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Employee Stock Compensation Plans | 12 Months Ended
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Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Employee Stock Compensation Plans | 10. Employee stock compensation plans: a.) The 2006 Plan On June 27, 2006, Solitario's shareholders approved the 2006 Stock Option Incentive Plan (the "2006 Plan"). Under the terms of the 2006 Plan, the Board of Directors may grant up to 2,800,000 options to Directors, officers and employees with exercise prices equal to the market price of Solitario's common stock at the date of grant. Solitario classifies its stock options under the 2006 Plan as equity options in accordance with the provisions of ASC 718 “Compensation – Stock Compensation.” b.) 2006 Plan stock option compensation Solitario’s outstanding options from the 2006 Plan on the date of grant have a five-year term, and vest 25% on date of grant and 25% on each of the next three anniversary dates. Solitario recognizes stock option compensation expense on the date of grant for 25% of the grant date fair value, and subsequently, based upon a straight line amortization of the unvested grant date fair value of each of its outstanding options. The following table shows the grant date fair value of Solitario’s options grants from the 2006 Plan as of the date of grant. Grant date fair value
Grant Date | 12/17/12 | 5/5/10 | 5/19/09
Option – grant date price (Cdn$) | $1.49 | $2.40 | $1.55
Options granted | 165,000 | 2,065,000 | 519,000
Expected life yrs. | 5.0 | 5.0 | 5.0
Expected volatility | 68% | 56% | 56%
Risk free interest rate | 0.7% | 2.2% | 1.9%
Weighted average fair value | $0.84 | $1.19 | $0.65
Grant date fair value | $139,000 | $2,449,000 | $339,000
Solitario recorded $189,000 and $732,000, respectively, of stock option expense from the 2006 Plan during 2013 and 2012 included in general and administrative expense, for the amortization of grant date fair value with a credit to additional paid-in capital. c.) 2006 Plan Stock option activity During the year ended December 31, 2013, options for 117,500 shares were exercised for cash proceeds of $184,000. During 2012 there were no shares exercised from the 2006 Plan. The following table summarizes the activity for stock options outstanding under the 2006 Plan as of December 31, 2013 and2012:
| 2013 | 2012
|  | Weighted |  |  | Weighted |
|  | Average | Aggregate |  | Average | Aggregate
|  | Exercise | Intrinsic |  | Exercise | intrinsic
| Options | Price (Cdn$) | value(1) | Options | Price (Cdn)$ | Value(1)
2006 Plan |  |  |  |  |  |
Outstanding, beginning of year | 2,598,400 | $2.22 |  | 2,433,400 | $2.27 |
Granted | - | - |  | 165,000 | $1.49 |
Exercised | (117,500) | 1.55 |  | - | - |
Cancelled | - | - |  | - | - |
Forfeited | (61,900) | 2.40 |  | - | - |
Outstanding, end of year | 2,419,000 | $2.25 | $ - | 2,598,400 | $2.22 | $1,650
Exercisable, end of year | 2,336,500 | $2.27 | $ - | 1,958,400 | $2.22 | $ 413
(1)The intrinsic value at December 31, 2013 and 2012 based upon the quoted market price of Cdn$0.87 and Cdn$1.50, respectively, per share for our common stock on the TSX and an exchange ratio of 0.93485 and 1.0031, respectively, United States dollars per Canadian dollar. a.) The 2013 Plan On June 18, 2013 Solitario’s shareholders approved the 2013 Solitario Exploration and Royalty Corp. Omnibus Stock and Incentive Plan (the “2013 Plan”). Under the terms of the 2013 Plan, the Board of Directors may grant awards for up to 1,750,000 shares to Directors, officers, employees and consultants. Such awards may take the form of stock options, stock appreciation rights, restricted stock, and restricted stock units. The terms and conditions of the awards are pursuant to the 2013 Plan and are granted by the Board of Directors or a committee appointed by the Board of Directors. Solitario classifies its awards from the 2013 Plan as equity awards under the provisions of ASC 718 “Compensation – Stock Compensation.” b.) Stock option compensation Solitario’s made two grants of options during 2013 from the 2013 Plan which on the date of grant have a five-year term, and vest 25% on date of grant and 25% on each of the next three anniversary dates. Solitario recognizes stock option compensation expense on the date of grant for 25% of the grant date fair value, and subsequently, based upon a straight line amortization of the unvested grant date fair value of each of its outstanding options. The following table shows the grant date fair value of Solitario’s options grants from the 2013 Plan as of the date of grant. Grant date fair value
Grant Date | 6/18/13 | 10/21/13
Option – grant date price | $1.14 | $0.94
Options outstanding | 120,000 | 1,280,000
Expected life yrs. | 5.0 | 5.0
Expected volatility | 68% | 67%
Risk free interest rate | 1.24% | 1.39%
Weighted average fair value | $0.65 | $0.53
Grant date fair value | $78,000 | $674,000
Solitario recorded $231,000 of stock option expense from the 2013 Plan during 2013included in general and administrative expense, for the amortization of grant date fair value with a credit to additional paid-in capital. c.) Stock option activity The following table summarizes the activity for stock options outstanding under the 2013 Plan as of December 31, 2013:
| 2013
|  | Weighted |
|  | Average | Aggregate
|  | Exercise | Intrinsic
| Options | Price | value(1)
20013 Plan |  |  |
Outstanding, beginning of year | - | - |
Granted | 1,400,000 | 0.96 |
Exercised | - | - |
Cancelled | - | - |
Forfeited | - | - |
Outstanding, end of year | 1,400,000 | $0.96 | $ -
Exercisable, end of year | 350,000 | $0.96 | $ -
(1)The intrinsic value at December 31, 2013 based upon the quoted market price of $0.85, per share for our common stock on the NYSE-MKT.

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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