XML 28 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION
9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
BioScrip Equity Incentive Plans
Under the Company’s 2018 Equity Incentive Plan (the “2018 Plan”), approved at the annual meeting by the stockholders on May 3, 2018, the Company may issue, among other things, incentive stock options, non-qualified stock options, stock appreciation rights (“SARs”), restricted stock units, stock grants, and performance units to key employees and directors. The 2018 Plan is administered by the Company’s Management Development and Compensation Committee (the “Compensation Committee”), a standing committee of the Board of Directors.
A total of 16,406,939 shares of stock are authorized for issuance under the 2018 Plan, to include shares that remained available for grant under the 2008 Plan as of the effective date of the 2018 Plan. The authorized shares were reduced by all shares granted under the 2008 Plan after December 31, 2017 in accordance with the terms of the 2018 Plan. No key employee in any calendar year will be granted more than 3,000,000 shares of Stock with respect to (i) Options to purchase shares of Stock, (ii) Stock Appreciation Rights (based on the appreciation with respect to shares of Stock); and (iii) Stock Grants and Restricted Stock Units that are intended to comply with the requirements of Section 162(m) of the Code.
As of September 30, 2018, 13,339,067 shares remain available for grant under the 2018 Plan.
Stock Options
The Company recognized compensation expense related to stock options of $0.3 million and $0.1 million during the three months ended September 30, 2018 and 2017, respectively, and $0.9 million and $0.8 million during the nine months ended September 30, 2018 and 2017, respectively.
Restricted Stock
The Company recognized $0.8 million and $0.4 million of compensation expense related to restricted stock awards during the three months ended September 30, 2018 and 2017, respectively, and $1.8 million and $0.6 million of compensation expense during the nine months ended September 30, 2018 and 2017, respectively.
Stock Appreciation Rights and Market Based Cash Awards
The Company recognized nominal amounts of compensation expense related to stock appreciation rights awards during the three months ended September 30, 2018 and 2017 and the nine months ended September 30, 2018 and 2017.
The Company recognized $0.1 million and a nominal amount of compensation expense related to market based cash awards during the three months ended September 30, 2018 and 2017, respectively, and $0.2 million and $0.1 million of compensation expense during nine months ended September 30, 2018 and 2017, respectively.
Employee Stock Purchase Plan
On May 3, 2018, the Company’s stockholders approved an amendment to the BioScrip, Inc. Employee Stock Purchase Plan (the “ESPP”). The ESPP provides all eligible employees, as defined under the ESPP, the opportunity to purchase up to a maximum number of shares of Common Stock of the Company as determined by the Compensation Committee. Participants in the ESPP may acquire the Common Stock at a cost of 85% of the lower of the fair market value on the first or last day of the quarterly offering period.
As of September 30, 2018, 1,422,842 shares remained available for grant under the ESPP. Since inception, the ESPP’s third-party service provider has purchased 827,158 shares on the open market and delivered these shares to the Company’s employees pursuant to the ESPP. During the three months ended September 30, 2018 and 2017, the Company incurred less than $0.1 million of expense. During the nine months ended September 30, 2018 and 2017, the company incurred $0.1 million of expense related to the ESPP.