Stock-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
|
| Summary of Stock Options Outstanding |
The following table
summarizes stock options outstanding and changes during the years ended December 31, 2015 and 2014:
| |
|
December 31, 2015 |
|
|
December 31, 2014 |
|
| |
|
Number of
Stock Options |
|
|
Weighted
Average
Exercise Price |
|
|
Number of
Stock Options |
|
|
Weighted
Average
Exercise Price |
|
| Stock options outstanding at beginning of period |
|
|
13,388 |
|
|
$ |
302.16 |
|
|
|
25,781 |
|
|
$ |
237.00 |
|
| Granted |
|
|
314,086 |
|
|
|
14.21 |
|
|
|
- |
|
|
|
- |
|
| Expired |
|
|
(1,075 |
) |
|
|
356.93 |
|
|
|
(11,227 |
) |
|
|
144.84 |
|
| Canceled or forfeited |
|
|
- |
|
|
|
- |
|
|
|
(1,166 |
) |
|
|
375.72 |
|
| Stock options outstanding at end of period |
|
|
326,399 |
|
|
$ |
24.89 |
|
|
|
13,388 |
|
|
$ |
302.16 |
|
| Stock options exercisable at end of period |
|
|
316,005 |
|
|
$ |
25.16 |
|
|
|
9,611 |
|
|
$ |
405.72 |
|
|
| Summary of Stock Options Outstanding and Exercisable by Stock Option Plan |
The following table
summarizes stock options outstanding and exercisable by stock option plan at December 31, 2015:
| |
|
Outstanding Stock Options |
|
|
Exercisable Stock Options |
|
| Stock Option Plan |
|
Number of Stock
Options
Outstanding |
|
|
Weighted
Average Exercise
Price |
|
|
Number of Stock
Options
Exercisable |
|
|
Weighted
Average Exercise
Price |
|
| 2004 Plan |
|
|
5,790 |
|
|
$ |
121.20 |
|
|
|
4,263 |
|
|
$ |
152.89 |
|
| 2004 Directors’ Plan |
|
|
6,107 |
|
|
|
482.34 |
|
|
|
5,899 |
|
|
|
497.57 |
|
| 2013 Plan |
|
|
416 |
|
|
|
35.88 |
|
|
|
208 |
|
|
|
35.88 |
|
| Replacement Stock Options |
|
|
314,086 |
|
|
|
14.21 |
|
|
|
305,635 |
|
|
|
14.26 |
|
| |
|
|
326,399 |
|
|
$ |
24.89 |
|
|
|
316,005 |
|
|
$ |
25.16 |
|
|
| Schedule of Fair Value Assumption Using Black-Scholes Option Pricing Model |
The fair value of
the replacement options granted upon completion of the Anatolia Transaction was estimated as of November 9, 2015 using the Black-Scholes
option pricing model using the following assumptions:
| Expected volatility |
|
|
90% - 100 |
% |
| Risk-free interest rate |
|
|
0.51% - 1.72 |
% |
| Expected life (years) |
|
|
0.89 - 4.20 |
|
| Dividend yield |
|
|
N/A |
|
|
| Summary of Status of Non-Vested Restricted Shares |
The following table
summarizes RSU activity for the years ending December 31, 2015 and 2014:
| |
|
December 31, 2015 |
|
|
December 31, 2014 |
|
| |
|
Number of
RSUs |
|
|
Weighted-
Average Grant
Date Fair
Value |
|
|
Number of
RSUs |
|
|
Weighted-
Average Grant
Date Fair
Value |
|
| Unvested RSUs at beginning of period |
|
|
45,397 |
|
|
$ |
34.12 |
|
|
|
23,329 |
|
|
$ |
39.69 |
|
| Granted |
|
|
- |
|
|
|
- |
|
|
|
35,989 |
|
|
|
31.36 |
|
| Forfeited |
|
|
(1,667 |
) |
|
|
32.20 |
|
|
|
(2,480 |
) |
|
|
40.54 |
|
| Vested |
|
|
(11,024 |
) |
|
|
34.04 |
|
|
|
(11,441 |
) |
|
|
35.38 |
|
| Unvested RSUs at end of period |
|
|
32,706 |
|
|
$ |
34.25 |
|
|
|
45,397 |
|
|
$ |
34.12 |
|
|
| Summary of Restricted Stock Awards |
The following table
summarizes RSA activity during the years ended December 31, 2015 and 2014:
| |
|
December 31, 2015 |
|
|
December 31, 2014 |
|
| |
|
Number of
RSAs |
|
|
Weighted-
Average Grant
Date Fair
Value |
|
|
Number of
RSAs |
|
|
Weighted-
Average Grant
Date Fair
Value |
|
| Unvested RSAs at beginning of period |
|
|
2,223 |
|
|
$ |
62.65 |
|
|
|
4,508 |
|
|
$ |
65.87 |
|
| Forfeited |
|
|
(104 |
) |
|
|
80.40 |
|
|
|
(466 |
) |
|
|
64.66 |
|
| Vested |
|
|
(753 |
) |
|
|
101.26 |
|
|
|
(1,819 |
) |
|
|
70.11 |
|
| Unvested RSAs at end of period |
|
|
1,366 |
|
|
$ |
40.01 |
|
|
|
2,223 |
|
|
$ |
62.65 |
|
|