v3.4.0.3
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used to Estimate Fair Value

The fair value of each share-based award is estimated at grant date for the years ended 2013, 2014 and 2015 using the Black-Scholes option-pricing model based on the following assumptions:

 

Year ended December 31   2013    2014    2015 
                
Risk-free interest rate (1)   0.11% - 2.66%     0.11% - 2.66%     0.11% - 2.66%  
Expected life (2)    2-5 years     2-5 years     2-5 years 
Expected volatility (3)   39.17% - 42.04%     38.15% - 42.04%     38.15% - 42.04%  
Dividend yield (4)    Nil     Nil     Nil 

 

  (1) Risk-free interest rate

 

Risk-free interest rate adopted the yield to maturity of United States government bonds with the same maturity as the respective expected term of the options.

 

  (2) Expected life

 

The expected life was estimated as the average between the vesting term of the options and the original contractual term.

 

  (3) Expected volatility

 

The expected volatility of the underlying ADS during the life of the options was calculated based on the Company's historical stock price volatility over the period from initial public offering through to the grant date.

 

  (4) Dividend yield

 

The dividend yield was expected to be nil based on the Company's historical dividend distribution record and its policy.

 

  (5) Share price

 

The fair value of the ordinary shares on the grant date was the closing price of the Company's stock at each grant date.

The fair value for the share equity of Actions Technology Zhuhai was the valuation value analyzed by the independent third party.
Summary of Stock Options Activity

A summary of stock option activity is as follows:

 

       Weighted   Weighted 
       average   average 
   Number   exercise price   fair value 
   of options   per option   at grant date 
             
Outstanding at December 31, 2012   4,878,097   $1.40   $1.01 
Granted on April 1, 2013   280,000   $2.58   $0.05 
Exercised   (2,172,103)  $1.40   $1.21 
Forfeited   (68,005)  $1.40   $1.12 
Expired   (21,650)  $1.40   $1.27 
Outstanding at December 31, 2013   2,896,339   $1.51   $0.77 
Exercised   (1,815,259)  $1.40   $1.20 
Forfeited   (10,000)  $1.40   $1.28 
Expired   (96,796)  $1.40   $1.09 
Outstanding at December 31, 2014   974,284   $1.73   $0.86 
Exercised   (544,584)  $1.40   $1.23 
Expired   (52,800)  $1.40   $1.20 
Outstanding at December 31, 2015   376,900   $2.28   $0.28 

  
Summary of Stock Options Outstanding

The following table summarizes information with respect to stock options outstanding at December 31, 2014 and 2015:

 

                   Options exercisable 
   Options outstanding as of December 31, 2014   as of December 31, 2014 
           Weighted           Weighted     
       Weighted   average           average     
       average   exercise   Aggregate   Number   exercise   Aggregate 
   Number   contractual   price   intrinsic   of   price   intrinsic 
   of option   period   per option   value   options   per option   value 
                                    
Ordinary shares   974,284    5 years   $1.73   $375    694,284   $1.40   $375 

 

       Options exercisable 
   Options outstanding as of December 31, 2015   as of December 31, 2015 
           Weighted           Weighted     
       Weighted   average           average     
       average   exercise   Aggregate   Number   exercise   Aggregate 
   Number   contractual   price   intrinsic   of   price   intrinsic 
   of option   period   per option   value   options   per option   value 
                                    
Ordinary shares   376,900    5 years   $2.28   $27    96,900   $1.40   $27 

 
RSU of share-based compensation plan A and B [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of RSU Activity

A summary of RSU activity is as follows:

 

   Number 
   of RSU 
     
Outstanding at December 31, 2012   581,650 
Granted on April 1, 2013   1,217,600 
Exercised   (173,350)
Forfeited   (51,900)
Outstanding at December 31, 2013   1,574,000 
Granted on November 4, 2014   20,000
Exercised   (237,400)
Expired   (26,500)
Forfeited   (227,900)
Outstanding at December 31, 2014   1,102,200 
Exercised   (52,300)
Expired   (18,800)
Forfeited   (172,700)
Outstanding at December 31, 2015   858,400 

  
RSU of share-based compensation plan C [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of RSU Activity

A summary of RSU activity is as follows:

 

   Number 
   of RSU 
Granted on May 12, 2015   6,698,000 
Granted on August 14, 2015   9,477,000 
Exercised   (47,700)
Forfeited   (667,500)
Outstanding at December 31, 2015   15,459,800