STOCK OPTIONS

Stock Options.

The Company's 2006 Equity Incentive Plan (the "2006 Plan") was terminated as to future awards on July 12, 2016. The Company's 2017 Stock Option and Incentive Plan (the "2017 Plan") was adopted by the Company's stockholders on June 5, 2017 and will expire on June 5, 2027. The following table summarizes stock option activity under our plans during the six months ended June 30, 2017:



	Number of Options		Weighted-Average Exercise Price
Outstanding at January 1, 2017	24,600		$	107.83
Granted	—		—
Forfeited	(2,460	)	75.76
Outstanding at June 30, 2017	22,140		$	111.39
Exercisable at June 30, 2017	19,908		$	119.13

As of June 30, 2017, there were 21,713 options that were vested or expected to vest with an aggregate intrinsic value of zero with a remaining weighted average contractual life of 6.9 years.

Stock Appreciation Rights (“SARs”)

As of June 30, 2017, 2,777 outstanding and exercisable SARs shares were vested or expected to vest. All outstanding SARs were issued solely to a former chief executive officer. The weighted-average exercise price of these SARs was $129.60 per share and the aggregate intrinsic value was zero with a remaining weighted average contractual life of 6.25 years. During the six months ended June 30, 2017, the SARs liability decreased approximately $5,000 and at June 30, 2017, a liability of approximately $7,000 was recorded in accrued expenses.