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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2014
Stock-Based Compensation  
Summary of the option activity under the Company's Amended and Restated 2000 Stock Option and Equity Incentive Plan (Amended 2000 Plan) and Amended and Restated 2010 Equity Incentive Plan (Amended 2010 Plan), referred to collectively as the "Plans"

A summary of the option activity under the Company’s Amended and Restated 2000 Stock Option and Equity Incentive Plan (Amended 2000 Plan) and Amended and Restated 2010 Equity Incentive Plan (Amended 2010 Plan), referred to collectively as the “Plans,” is presented below (in thousands, except exercise price):

 

 

 

 

 

Options Outstanding

 

 

 

Available
for Grant

 

Number of
Shares

 

Weighted
Average
Exercise
Prices

 

Balance at December 31, 2013

 

422

 

6,727

 

$

3.86

 

Additional shares authorized under the Amended 2010 Plan

 

500

 

 

 

Restricted stock units granted

 

(499

)

 

 

Options granted

 

(49

)

49

 

$

4.69

 

Options cancelled

 

60

 

(60

)

$

3.42

 

Options exercised

 

 

(300

)

$

3.58

 

Options expired

 

(60

)

 

3.42

 

Balance at March 31, 2014

 

374

 

6,416

 

$

3.89

 

Additional shares authorized under the Amended 2010 Plan

 

1,500

 

 

 

Restricted stock units granted

 

(9

)

 

 

Options cancelled

 

4

 

(4

)

$

5.21

 

Options exercised

 

 

(52

)

$

1.61

 

Options expired

 

(4

)

 

$

5.21

 

Balance at June 30, 2014

 

1,865

 

6,360

 

$

3.91

 

 

Summary of the inducement grant option activity

A summary of the inducement grant option activity is presented below (in thousands, except exercise price):

 

 

 

Options Outstanding

 

 

 

Number of
Shares

 

Weighted
Average
Exercise
Prices

 

Balance at December 31, 2013

 

3,178

 

$

4.42

 

Granted

 

118

 

$

5.22

 

Cancelled

 

(40

)

$

4.47

 

Exercised

 

(32

)

$

3.88

 

Balance at March 31, 2014

 

3,224

 

$

4.46

 

Granted

 

125

 

$

3.87

 

Exercised

 

(20

)

$

1.55

 

Balance at June 30, 2014

 

3,329

 

$

4.45

 

 

Summary of restricted stock unit activity

A summary of restricted stock unit activity is presented below (in thousands, except fair value):

 

 

 

Number of
Shares

 

Weighted
Average
Grant-Date
Fair Value

 

Non-vested shares at December 31, 2013

 

27

 

$

4.46

 

Granted

 

499

 

$

4.62

 

Vested

 

(122

)

$

4.62

 

Non-vested shares at March 31, 2014

 

404

 

$

4.61

 

Granted

 

9

 

$

4.62

 

Vested

 

(5

)

$

4.62

 

Non-vested shares at June 30, 2014

 

408

 

$

4.61

 

 

Summary of significant ranges of outstanding and exercisable options

The following table summarizes significant ranges of outstanding and exercisable options as of June 30, 2014 (in thousands, except contractual life and exercise price):

 

 

 

Options Outstanding

 

Options Exercisable

 

Range of Exercise Price

 

Number
Outstanding

 

Weighted
Average
Remaining
Contractual
Life
(in Years)

 

Weighted
Average
Exercise
Price

 

Aggregate
Intrinsic
value

 

Number
Exercisable

 

Weighted
Average
Remaining
Contractual
Life (in
Years)

 

Weighted
Average
Exercise
Price

 

Aggregate
Intrinsic
value

 

$1.50 - $3.23

 

2,683

 

2.90

 

$

2.63

 

$

1,430

 

1,807

 

2.33

 

$

2.40

 

$

1,362

 

$3.24 - $4.20

 

2,439

 

4.41

 

$

3.78

 

 

1,374

 

3.77

 

$

3.76

 

 

$4.21 - $5.61

 

3,627

 

3.80

 

$

4.90

 

 

2,625

 

2.01

 

$

5.04

 

 

$5.62 - $6.50

 

940

 

2.59

 

$

5.98

 

 

764

 

2.33

 

$

5.98

 

 

 

 

9,689

 

3.58

 

$

4.09

 

$

1,430

 

6,570

 

2.50

 

$

4.15

 

$

1,362

 

 

Schedule of assumptions used in estimation of fair value of the share-based payment awards on the grant date

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

Employee stock options:

 

2014

 

2013

 

2014

 

2013

 

Risk-free interest rate

 

1.6% - 1.7%

 

0.5% - 0.8%

 

1.5% – 1.7%

 

0.5% – 0.8%

 

Volatility

 

55.9% – 56.7%

 

58.0% – 58.3%

 

55.9% – 57.5%

 

58.0% – 59.1%

 

Expected life (years)

 

4.0-5.0

 

4.0

 

4.0-5.0

 

4.0

 

Dividend yield

 

0%

 

0%

 

0%

 

0%