Summary of Stock Option Activity |
The following table summarizes the Company’s stock option activity during the three months ended March 31, 2017 and 2016:
|
|
Number of Common Shares |
|
|
Weighted- |
|
|
|
Options |
|
|
|
|
|
|
Available |
|
|
Average |
|
|
|
Outstanding |
|
|
Exercisable |
|
|
for Grant |
|
|
Exercise Price |
|
2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2016 |
|
|
3,402,481 |
|
|
|
411,029 |
|
|
|
274,596 |
|
|
$ |
9.02 |
|
Authorized |
|
|
— |
|
|
|
|
|
|
|
889,259 |
|
|
|
— |
|
Granted |
|
|
847,000 |
|
|
|
|
|
|
|
(847,000 |
) |
|
|
13.36 |
|
Exercised |
|
|
(19,989 |
) |
|
|
|
|
|
|
— |
|
|
|
7.70 |
|
Cancelled |
|
|
(16,459 |
) |
|
|
|
|
|
|
16,459 |
|
|
|
10.48 |
|
Balance at March 31, 2017 |
|
|
4,213,033 |
|
|
|
391,040 |
|
|
|
333,314 |
|
|
$ |
9.90 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2015 |
|
|
2,419,529 |
|
|
|
724,529 |
|
|
|
837,635 |
|
|
$ |
8.16 |
|
Authorized |
|
|
— |
|
|
|
|
|
|
|
874,709 |
|
|
|
— |
|
Granted |
|
|
160,000 |
|
|
|
|
|
|
|
(160,000 |
) |
|
|
10.53 |
|
Exercised |
|
|
(159,626 |
) |
|
|
|
|
|
|
— |
|
|
|
10.24 |
|
Balance at March 31, 2016 |
|
|
2,419,903 |
|
|
|
564,903 |
|
|
|
1,552,344 |
|
|
$ |
8.49 |
|
|