Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.3.1.900
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation expense is included in the consolidated statements of operations as follows (in thousands):
 
 
Years Ended December 31,
 
2015
 
2014
 
2013
Research and development
$
935

 
$
953

 
$
1,201

Selling, general and administrative
4,191

 
3,667

 
3,188

 
$
5,126

 
$
4,620

 
$
4,389

Assumptions used to estimate the fair value of option grants
The following summarize the ranges of weighted-average assumptions used to estimate the fair value of employee stock options granted:
 
Years Ended December 31,
 
2015
 
2014
 
2013
Expected life (years)
6.1

 
6.0

 
6.0

Volatility
66.1
%
 
65.0
%
 
65.0
%
Risk-free interest rate
1.7
%
 
1.9
%
 
1.2
%
Expected dividend yield (1)
0.0
%
 
0.0
%
 
0.0
%
(1)
We do not currently pay dividends, and thus the dividend rate variable in the Black-Scholes-Merton option-pricing model is zero.
Schedule of share-based compensation, stock options, activity
The following table summarizes stock option activity in 2015:
 
Number
of
Shares
 
Weighted
Average
Exercise Price Per Share
 
Weighted
Average
Remaining
Contractual Term
 
Aggregate Intrinsic
Value
 
(in thousands)
 
 
 
(in years)
 
(in thousands)
Balance at January 1, 2015
3,480

 
$
4.53

 
 
 
 
Granted
742

 
$
3.45

 
 
 
 
Exercised
(172
)
 
$
1.68

 
 
 
 
Forfeited/Expired
(132
)
 
$
3.58

 
 
 
 
Outstanding at December 31, 2015
3,918

 
$
4.49

 
6.41
 
$
4,206

 
 
 
 
 
 
 
 
Exercisable at December 31, 2015
2,499

 
$
5.42

 
5.20
 
$
2,252

Vested and expected to vest at December 31, 2015
3,771

 
$
4.54

 
6.31
 
$
4,036

Schedule of share-based compensation, RSA activity
The following table summarizes the RSAs activity in 2015:
 
Number
of
Shares
 
Weighted Average
Grant Date
Fair Value
Per Share
 
(in thousands)
 
 
Nonvested balance at January 1, 2015
912

 
$
2.51

Granted
145

 
$
4.10

Vested
(577
)
 
$
2.27

Forfeited/Expired

 

Nonvested balance at December 31, 2015
480

 
$
3.29

Schedule of share-based compensation, RSU activity
The following table summarizes the RSUs activity in 2015:
 
Number
of
Shares
 
Weighted Average
Grant Date
Fair Value
Per Share
 
(in thousands)
 
 
Nonvested balance at January 1, 2015
1,052

 
$
2.22

Granted
339

 
$
3.65

Vested
(711
)
 
$
2.09

Forfeited/Expired
(135
)
 
$
2.73

Nonvested balance at December 31, 2015
545

 
$
3.15

Share-based compensation, performance shares sward outstanding activity
The following table summarizes the PSUs activity in 2015:
 
Number
of
Shares
 
Weighted Average
Grant Date
Fair Value
Per Share
 
(in thousands)
 
 
Nonvested balance at January 1, 2015
749

 
$
2.00

Granted
684

 
$
3.45

Vested
(195
)
 
$
2.00

Forfeited/Expired
(249
)
 
$
2.27

Nonvested balance at December 31, 2015
989

 
$
2.94