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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation | 12. Stock-Based Compensation Stock Incentive Plans The Company maintains a stock-based compensation plan, the 2011 Incentive Compensation Plan (the “2011 Plan”), as amended, to attract, motivate, retain and reward employees, directors and consultants by providing its Board or a committee of the Board the discretion to award equity incentives to these persons. On June 6, 2011, the Company’s stockholders approved the 2011 Plan, which is administered by the Compensation Committee of the Board. The 2011 Plan provides that stock options, stock units, restricted shares, and stock appreciation rights may be granted to executive officers, directors, consultants, and other key employees. The Company reserved 400,000 shares of common stock under the 2011 Plan, plus 459,956 shares of common stock that remained available for delivery under the 2007 Plan and the 2010 Plan as of June 6, 2011. In aggregate, as of June 6, 2011, 859,956 shares were available for future grant under the 2011 Plan, including shares rolled over from the 2007 Plan and the 2010 Plan. Subsequent to June 6, 2011 through December 31, 2019, the number of shares of common stock authorized for issuance under the 2011 Plan has been increased by an aggregate of 3,500,000 shares. Stock Option Plans A summary of activity for the Company’s stock option plans for the three months ended March 31, 2020 is as follows:
|  | Number Outstanding |  |  | Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Average Intrinsic Value |
Balance as of December 31, 2019 |  |  | 562,102 |  |  | $ | 5.60 |  |  |  | 5.86 |  |  | $ | 572,869 |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Cancelled or Expired |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Balance as of March 31, 2020 |  |  | 562,102 |  |  | $ | 5.60 |  |  |  | 5.56 |  |  | $ | — |
Vested or expected to vest as of March 31, 2020 |  |  | 562,102 |  |  | $ | 5.60 |  |  |  | 5.56 |  |  | $ | — |
Exercisable as of March 31, 2020 |  |  | 562,102 |  |  | $ | 5.60 |  |  |  | 5.56 |  |  | $ | — |
The aggregate intrinsic value in the table above represents the difference between the fair value of the Company’s common stock and the option exercise price of in-the-money options multiplied by the number of such options. The following table summarizes information about options outstanding as of March 31, 2020:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$4.36 - $7.20 |  |  | 465,310 |  |  |  | 6.02 |  |  | $ | 4.45 |  |  |  | 465,310 |  |  | $ | 4.45 |
$7.50 - $11.30 |  |  | 75,198 |  |  |  | 3.74 |  |  |  | 9.89 |  |  |  | 75,198 |  |  |  | 9.89 |
$12.00 - $19.70 |  |  | 17,244 |  |  |  | 2.06 |  |  |  | 13.60 |  |  |  | 17,244 |  |  |  | 13.60 |
$21.70 - $24.20 |  |  | 4,350 |  |  |  | 1.43 |  |  |  | 23.27 |  |  |  | 4,350 |  |  |  | 23.27 |
$4.36 - $24.20 |  |  | 562,102 |  |  |  | 5.68 |  |  |  | 5.60 |  |  |  | 562,102 |  |  |  |  |
As of March 31, 2020, there was no unrecognized stock-based compensation expense related to stock options. Restricted Stock Units The following is a summary of RSU activity for the three months ended March 31, 2020:
|  | Number of RSUs |  |  | Weighted Average Fair Value |
Unvested as of December 31, 2019 |  |  | 1,148,110 |  |  | $ | 4.43 |
Granted |  |  | 136,396 |  |  |  | 2.73 |
Vested |  |  | (177,101 | ) |  |  | 4.02 |
Forfeited |  |  | (64,439 | ) |  |  | 4.65 |
Unvested as of March 31, 2020 |  |  | 1,042,966 |  |  | $ | 4.26 |
Shares vested but not released |  |  | 230,334 |  |  | $ | 5.16 |
The fair value of the Company’s RSUs is calculated based upon the fair market value of the Company’s stock on the date of grant. As of March 31, 2020, there was $3.7 million of unrecognized compensation expense related to unvested RSUs granted, which is expected to be recognized over a weighted average period of 2.6 years. Stock-Based Compensation Expense The following table illustrates all employee stock-based compensation expense related to stock options and RSUs included in the condensed consolidated statements of operations for the three months ended March 31, 2020 and 2019 (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2020 |  |  | 2019 |
Cost of revenue |  | $ | 40 |  |  | $ | 29 |
Research and development |  |  | 174 |  |  |  | 114 |
Selling and marketing |  |  | 126 |  |  |  | 180 |
General and administrative |  |  | 300 |  |  |  | 364 |
Total |  | $ | 640 |  |  | $ | 687 |
Restricted Stock Unit Net Share Settlements During the three months ended March 31, 2020 and 2019, the Company repurchased 48,335 and 42,880 shares, respectively, of common stock surrendered to the Company to satisfy tax withholding obligations in connection with the vesting of RSUs issued to employees.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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