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Employee Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Grant Date Fair Value
Grant Date 6/22/16
Option – grant date price (Cdn$) $0.72
Options granted 350,000
Expected life years 5.0
Expected volatility 63%
Risk free interest rate 1.0%
Weighted average fair value $0.30
Grant date fair value $105,000

 

 

The following table shows the grant date fair value of Solitario’s only award during either 2016 or 2015 from the 2013 Plan as of the date of grant.

 

Grant date fair value

Grant Date 7/28/16
Option – grant date price $0.72
Options granted 1,699,000
Expected life years 5.0
Expected volatility 63%
Risk free interest rate 0.9%
Weighted average fair value $0.50
Grant date fair value $850,000
Summary Stock Options
  2016 2015
    Weighted     Weighted  
    Average Aggregate   Average Aggregate
    Exercise Intrinsic   Exercise Intrinsic
  Options Price (Cdn$) Value(1) Options Price (Cdn)$ Value(1)
2006 Plan            
Outstanding, beginning of year 40,000  $1.66    2,348,000  $1.66  
Granted 350,000  $0.72    -   -    
Exercised -   -     -   -    
Cancelled/expired (2) (390,000) $0.82    (2,188,000) 1.66  
Forfeited -   -     (120,000) 1.60  
Outstanding, end of year -   -   $   -    40,000  $1.60 $   -   
Exercisable, end of year -   -   $   -    20,000  $1.60 $   -   

 

(1)The intrinsic value at December 31, 2015 based upon the quoted market price of Cdn$0.70, respectively, per share for our common stock on the TSX and an exchange ratio of 0.72120, United States dollars per Canadian dollar. There were no options outstanding from the 2006 Plan at December 31, 2016.

(2)On August 24, 2016, holders of option awards from the 2006 Plan voluntarily cancelled awards for 350,000 options with an option price of Cdn$.072 with an expiration date of June 21, 2021 and 40,000 options with an option price of Cdn$1.66 with an expiration date of August 14, 2019 to allow Solitario to have additional financial flexibility. No consideration was given or received by the holders of the options to cancel the awards.

 

 

During 2016 and 2015 no options granted from the 2013 Plan were exercised. The following table summarizes the activity for stock options and RSUs outstanding under the 2013 Plan as of December 31, 2016 and 2015:

 

  2016 2015
    Weighted     Weighted  
    Average Aggregate   Average Aggregate
  RSUs/ Exercise Intrinsic RSUs/ Exercise Intrinsic
  Options Price Value(1) Options Price Value(1)
2013 Plan            
Outstanding, beginning of year -   -     1,400,000  $0.96   
Granted 1,699,000  $0.72    -   -    
Exercised -   -     -   -    
Cancelled/expired(2) (1,699,000) 0.94    (1,250,000) 0.94   
Forfeited -   1.10    (150,000) 1.10   
Outstanding, end of year -   -   $   -    -   -   $   -   
Exercisable, end of year -   -   $   -    -   -   $   -