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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2015
Stock-Based Compensation  
Schedule of assumptions used in estimation of fair value of the share-based payment awards on the grant date

                                                                                                                                                                

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

Employee stock options:

 

2015

 

2014

 

2015

 

2014

 

Risk-free interest rate

 

1.4%

 

1.3% - 1.7%

 

0.6% – 1.7%

 

1.3% – 1.7%

 

Volatility

 

59.3%

 

53.7% – 55.6%

 

55.7% – 59.3%

 

53.7% – 57.5%

 

Expected life (years)

 

4.0

 

4.0-5.0

 

4.0-5.0

 

4.0-5.0

 

Dividend yield

 

0%

 

0%

 

0%

 

0%

 

 

Summary of option and RSU activity under Amended and Restated 2000 Stock Option and Equity Incentive Plan and Amended and Restated 2010 Equity Incentive Plan

 

A summary of the option and RSU 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, 2014

 

1,760

 

5,994

 

$

3.87

 

Additional shares authorized under the Amended 2010 Plan

 

500

 

 

 

Restricted stock units cancelled

 

6

 

 

 

Options granted

 

(1,323

)

1,323

 

$

2.05

 

Options cancelled

 

153

 

(153

)

$

5.00

 

Options exercised

 

 

(22

)

$

1.60

 

Options expired

 

(78

)

 

$

5.79

 

 

 

 

 

 

 

 

 

 

Balance at March 31, 2015

 

1,018

 

7,142

 

$

3.52

 

Additional shares authorized under the Amended 2010 Plan

 

 

 

 

Restricted stock units cancelled

 

10

 

 

 

Options granted

 

(95

)

95

 

$

2.04

 

Options cancelled

 

128

 

(128

)

$

4.00

 

Options exercised

 

 

(40

)

$

1.65

 

Options expired

 

(15

)

 

$

4.35

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 2015

 

1,046

 

7,069

 

$

3.50

 

Additional shares authorized under the Amended 2010 Plan

 

 

 

 

Restricted stock units cancelled

 

4

 

 

 

Options granted

 

(120

)

120

 

$

1.70

 

Options cancelled

 

203

 

(203

)

$

2.90

 

Options exercised

 

 

(20

)

$

1.65

 

Options expired

 

(121

)

 

$

2.26

 

Balance at September 30, 2015

 

1,012

 

6,966

 

$

3.49

 

 

 

 

 

 

 

 

 

 

 

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, 2014 and March 31, 2015

 

2,233

 

$

3.68

 

Granted

 

 

 

Cancelled

 

(2

)

$

3.86

 

Exercised

 

(512

)

$

1.55

 

Expired

 

(16

)

$

1.55

 

 

 

 

 

 

 

 

Balance at June 30, 2015

 

1,703

 

$

4.34

 

Granted

 

 

 

Cancelled

 

(28

)

$

3.57

 

Exercised

 

(6

)

$

1.50

 

Expired

 

 

$

 

 

 

 

 

 

 

 

Balance at September 30, 2015

 

1,669

 

$

4.36

 

 

 

 

 

 

 

 

 

Summary of RSU activity under the Plans

 

A summary of RSU activity under the Plans is presented below (in thousands, except for fair value):

                                                                                                                                                                                                      

 

 

Number
of
Shares

 

Weighted
Average
Grant-Date
Fair Value

 

Non-vested shares at December 31, 2014

 

394

 

$

4.61

 

Vested

 

(120

)

$

4.60

 

Cancelled

 

(6

)

$

4.60

 

 

 

 

 

 

 

 

Non-vested shares at March 31, 2015

 

268

 

$

4.61

 

Vested

 

(3

)

$

4.46

 

Cancelled

 

(10

)

$

4.62

 

 

 

 

 

 

 

 

Non-vested shares at June 30, 2015

 

255

 

$

4.60

 

Vested

 

(8

)

$

4.46

 

Cancelled

 

(4

)

$

4.62

 

 

 

 

 

 

 

 

Non-vested shares at September 30, 2015

 

243

 

$

4.76

 

 

 

 

 

 

 

 

 

Summary of significant ranges of outstanding and exercisable options

 

The following table summarizes significant ranges of outstanding and exercisable options as of September 30, 2015 (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

 

Number
Exercisable

 

Weighted
Average
Exercise
Price

 

Aggregate
Intrinsic
Value

 

$1.68 - $2.24

 

1,612 

 

9.19 

 

$

2.01 

 

261 

 

$

2.05 

 

 

 

$2.25 - $3.15

 

1,429 

 

2.94 

 

$

2.97 

 

1,196 

 

$

2.96 

 

 

 

$3.16 - $3.80

 

1,483 

 

2.90 

 

$

3.42 

 

1,239 

 

$

3.43 

 

 

 

$3.81 - $4.34

 

1,435 

 

3.33 

 

$

3.96 

 

1,222 

 

$

3.96 

 

 

 

$4.35 - $4.69

 

1,386 

 

5.58 

 

$

4.47 

 

974 

 

$

4.46 

 

 

 

$4.70 - $6.11

 

1,290 

 

2.01 

 

$

5.56 

 

1,217 

 

$

5.57 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$1.68 - $6.11

 

8,635 

 

4.45 

 

$

3.66 

 

6,109 

 

$

3.98 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest

 

8,415 

 

4.35 

 

$

3.69 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable

 

6,109 

 

3.13 

 

$

3.98 

 

 

 

 

 

$