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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Stock Options Activity and Related Information

Summaries of the Company’s stock options, warrants and performance related options activity, and related information for the Current Quarter are as follows:

Options	Options		Weighted Average Exercise Price
Outstanding at January 1, 2018		20,000	$	12.29
Granted		—		—
Canceled		—		—
Exercised		—		—
Expired/Forfeited		—		—
Outstanding at March 31, 2018		20,000	$	12.29
Exercisable at March 31, 2018		20,000	$	12.29

Summary of Warrants and Related Information

Warrants	Warrants		Weighted Average Exercise Price
Outstanding at January 1, 2018		20,000	$	6.64
Granted		—		—
Canceled		—		—
Exercised		—		—
Expired/Forfeited		—		—
Outstanding at March 31, 2018		20,000	$	6.64
Exercisable at March 31, 2018		20,000	$	6.64

Summary of Unvested Restricted Stock

The following table summarize information about unvested restricted stock transactions:

	Shares			Weighted Average Grant Date Fair Value
Non-vested, January 1, 2018		1,308,084		$	25.29
Granted		—			—
Vested		(239,559	)		7.83
Forfeited/Canceled		19,244			6.37
Non-vested, March 31, 2018		1,087,769		$	28.81

Summary of Grant Date Fair Value of Awards Issued Based on Valuation Assumptions

The grant date fair value of the awards issued on January 7, 2016 was $4.25 and was based on the following range of assumptions for the Company and the peer group:

	January 7. 2016
Valuation Assumptions:
Beginning average stock price (20 trading days prior to January 7, 2016)	$4.85 - $63.41
Valuation date stock price (closing values on January 7, 2016)	$4.53 - $59.08
Risk free interest rate		1.21	%
Expected dividend yield used when simulating the total shareholder return		0.00	%
Expected dividend yield used when simulating the Company's stock price		0.00	%
Stock price volatility (based on historical stock price over the last 2.98 years)	21.09% - 72.17%
Correlation coefficients	0.04 - 0.47

Mr. Haugh, the Company’s Chief Executive Officer, was issued an Employment Inducement Award pursuant to his employment agreement. The terms of the Employment Inducement Award are similar to the retention stock awards provided to all other employees as described above. The grant date fair value of Mr. Haugh’s award issued on February 23, 2016 was $5.75 and was based on the following range of assumptions for the Company and the peer group:

	February 23. 2016
Valuation Assumptions:
Beginning average stock price (20 trading days prior to February 23, 2016)	$4.86 - $66.71
Valuation date stock price (closing values on February 23, 2016)	$5.52 - $69.92
Risk free interest rate		0.90	%
Expected dividend yield used when simulating the total shareholder return		0.00	%
Expected dividend yield used when simulating the Company's stock price		0.00	%
Stock price volatility (based on historical stock price over the last 3.00 years)	24.23% - 74.33%
Correlation coefficients	0.06 - 0.50

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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