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Stock Based Compensation | 9 Months Ended
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Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock Based Compensation | Note 11. Stock Based Compensation Stock Options The following table summarizes the outstanding stock option activity during the period indicated (shares in thousands):
|  |  |  |  |  | Weighted average |
|  | Number of shares |  |  | Exercise price |  |  | Remaining contractual term (years) |
Balance at December 31, 2019 |  |  | 1,600 |  |  | $ | 9.98 |  |  |  |  |
Granted |  |  | 402 |  |  |  | 10.05 |  |  |  |  |
Exercised |  |  | (105 | ) |  |  | 8.24 |  |  |  |  |
Expired/Forfeited |  |  | (105 | ) |  |  | 10.42 |  |  |  |  |
Balance at September 30, 2020 |  |  | 1,792 |  |  |  | 10.07 |  |  |  | 7.8 |
Vested and exercisable at September 30, 2020 |  |  | 947 |  |  |  | 9.27 |  |  |  | 6.9 |
Vested and expected to vest at September 30, 2020 |  |  | 1,792 |  |  |  | 10.07 |  |  |  | 7.8 |
The weighted average grant date fair value of options granted during the nine months ended September 30, 2020 and for the year ended December 31, 2019, was $4.30 and $4.93, respectively. For fully vested stock options, the aggregate intrinsic value as of September 30, 2020 and December 31, 2019, was $4.1 million and $2.3 million, respectively. For stock options expected to vest, the aggregate intrinsic value as of September 30, 2020, and December 31, 2019, was $2.0 million and $0.3 million, respectively. At September 30, 2020, and December 31, 2019, there was $3.5 million and $3.2 million, respectively, of total unrecognized compensation cost related to unvested stock options granted under the Company’s equity plans. That cost is expected to be recognized over the next four years and is based on the date the options were granted. Restricted Stock The following table summarizes the Company's Restricted Stock Unit (RSU) activity during the period indicated (shares in thousands):
|  | Restricted stock units |  |  | Weighted average grant date fair value |
Non-vested balance at December 31, 2019 |  |  | 80 |  |  | $ | 11.43 |
Grants |  |  | 151 |  |  |  |  |
Vested and released |  |  | (28 | ) |  |  |  |
Non-vested balance at September 30, 2020 |  |  | 203 |  |  |  | 10.53 |
As of September 30, 2020, there was $1.7 million of total unrecognized compensation cost related to unvested RSUs having a weighted average remaining contractual term of 1.6 years. Employee Stock Purchase Plan (ESPP) The Company maintains the Employee Stock Purchase Plan (ESPP) that provides employees an opportunity to purchase common stock through payroll deductions. The ESPP is implemented through consecutive 6-month offering periods commencing on March 1 and September 1 of each year. The first offering period under the ESPP commenced on March 1, 2019. The purchase price is set at 85% of the fair market value of the Company's common stock on either the first or last trading day of the offering period, whichever is lower. Annual contributions are limited to the lower of 20% of an employee's eligible compensation or such other limits as apply under Section 423 of the Internal Revenue Code. The ESPP is intended to qualify as an employee stock purchase plan for purposes of Section 423 of the Internal Revenue Code. Based on the 15% discount and the fair value of the option feature of the ESPP, it is considered compensatory. Compensation expense is calculated using the fair value of the employees’ purchase rights under the Black-Scholes model. The Company currently uses authorized and unissued shares to satisfy share award exercises. Under the ESPP the Company received proceeds of $182,000 from the issuances of approximately 27,000 shares in February and August 2020.

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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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