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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2012
Summary of Option Activity

Information regarding option activity for the six months ended June 30, 2012 under the Plans is summarized below:

 

     Options
Outstanding
    Weighted-
Average
Exercise
Price Per
Share
     Weighted-
Average
Remaining
Contractual
Term
(in years)
     Aggregate
Intrinsic
Value
 

Options outstanding at January 1, 2012

     2,823,400      $ 4.05         

Granted

     94,190        1.89         

Exercised

     (217,500     2.65         

Forfeited/Cancelled

     (70,600     4.31         
  

 

 

         

Options outstanding at June 30, 2012

     2,629,490      $ 4.08         5.95       $ 1,713,058   
  

 

 

         

Options exercisable at June 30, 2012

     1,678,700      $ 4.34         4.61       $ 926,194   
  

 

 

         

Vested and expected to vest at June 30, 2012 (1)

     2,506,271      $ 4.09         5.85       $ 1,647,742   
  

 

 

   

 

 

    

 

 

    

 

 

 

 

(1) This represents the number of vested options as of June 30, 2012 plus the number of unvested options expected to vest as of June 30, 2012 based on the unvested outstanding options at June 30, 2012 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.