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Employee Stock Compensation Plans
3 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Employee Stock Compensation Plans

8.       Employee Stock Compensation Plans

 

Solitario had no outstanding options or equity awards at March 31, 2017 or December 31, 2016. Solitario had outstanding options exercisable to acquire 40,000 shares during the three months ended March 31, 2016, which had on the date of grant, a five year term, and vested 25% on date of grant and 25% on each of the next three anniversary dates. Solitario recognized 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 such options. During the three months ended March 31, 2016, Solitario recorded $2,000 of stock option expense for the amortization of grant date fair value with a credit to additional paid-in-capital.

 

The 2006 Plan

On June 27, 2006, Solitario’s shareholders approved the 2006 Stock Option Incentive Plan (the “2006 Plan”). On June 27, 2016, the 2006 Plan terminated and no additional options may be granted pursuant to the 2006 Plan. There were no new options granted during the three months ended March 31, 2017 and 2016 under the 2006 Plan. No options were exercised during the three months ended March 31, 2017 and 2016 under the 2006 Plan.

 

The 2013 Plan

On June 18, 2013, Solitario’s shareholders approved the 2013 Solitario Exploration & Royalty Corp. Omnibus Stock and Incentive Plan (the “2013 Plan”). Under the terms of the 2013 Plan, the Board of Directors, or a committee appointed by 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.

 

There were no stock grants or awards or exercises of options or awards under the 2013 Plan during the three months ended March 31, 2017 and 2016.