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Subsequent Events
6 Months Ended
Jun. 30, 2016
Subsequent Events  
Subsequent Events

 

Note 10. Subsequent Event

 

On June 24, 2016, the stockholders of the Company approved a one-time option exchange program (the “Option Exchange Program”) pursuant to which employees (excluding the chief executive officer and non-employees, including members of the Company’s board of directors) who hold certain options to purchase shares of the Company’s common stock (such options, “eligible options”) would be given the opportunity to exchange such eligible options for a lesser number of replacement options with a lower exercise price.

 

On July 22, 2016, the Company’s board of directors authorized the Option Exchange Program, and the Company commenced its tender offer to replace eligible options with replacement stock options. On July 26, 2016, the terms of the Option Exchange Program and all of the tender offer documents are contained in the Company’s Schedule TO filed with the Securities and Exchange Commission on July 26, 2016, and can be viewed in the Company’s filings located at https://www.sec.gov/edgar/searchedgar/companysearch.html.