XML 55 R12.htm IDEA: XBRL DOCUMENT v3.3.0.814
Stock-Based Compensation
9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation

Note 7 - Stock-Based Compensation

The Company follows the guidance in ASC Topic 718, “Compensation – Stock Compensation, (“ASC 718”).

The Company granted 40,000 and 358,000 options in the three and nine months ended September 30, 2015. Options granted under the Company’s stock incentive plans were valued utilizing the Black-Scholes model using the following assumptions and had the following fair values:

 

     Three Months Ended    Nine Months Ended
     September 30,    September 30,
     2015    2014    2015    2014

Average risk-free interest rate

   1.06%    0.93%    0.95%    0.84%

Expected dividend yield

   None    None    None    None

Expected life

   3.5 years    3.5 years    3.5 years    3.5 years

Expected volatility

   74.6%    66.3% to 69.3%    60.5% to 74.6%    64.2% to 69.3%

Weighted average exercise price

   $3.85    $8.74    $6.62    $8.02

Weighted average fair value

   $2.02    $4.29    $3.19    $3.80

 

The amounts included in the consolidated statement of operations relating to stock based compensation expense are as follows:

 

     Three Months Ended      Nine Months Ended  
     September 30,      September 30,  
     2015      2014      2015      2014  

Cost of revenue

   $ 4       $ 3       $ 11       $ 10   

Engineering and product development

     53         43         165         126   

Marketing and sales

     162         97         495         237   

General and administrative

     318         217         930         593   
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 537       $ 360       $ 1,601       $ 966   
  

 

 

    

 

 

    

 

 

    

 

 

 

As of September 30, 2015 unrecognized compensation cost (in thousands) related to unexercisable options and unvested restricted stock and the weighted average remaining period is as follows:

 

Remaining expense

   $ 4,039   

Weighted average term

     1.21 years   

The Company’s aggregate intrinsic value for stock options and restricted stock outstanding is as follows (in thousands):

 

     Period Ended
September 30,
 

Aggregate intrinsic value

   2015      2014  

Stock options

   $ 584       $ 7,448   

Restricted stock

     1,470         3,047   

The intrinsic value of stock options exercised during the nine months ended September 30, 2015 and 2014 was $0.3 million and $0.9 million, respectively.