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Stockholder's Equity and Stock-Based Compensation Expense
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stockholder's Equity and Stock-Based Compensation Expense
Stockholder's Equity and Stock-Based Compensation Expense
Public Equity Offering
On February 21, 2018, the Company announced its successful completion of a public equity offering.  The Company issued and sold 1,820,000 shares of common stock at a public offering price of $27.50 per share, and warrants to purchase an additional 1,820,000 shares of the Company’s common stock.  The net proceeds from this offering were $47.0 million, including transaction expenses.  A portion of the net proceeds were used to retire the Company’s $28.5 million Third Lien Notes in March 2018 (several weeks before their maturity date). The warrants have an exercise price of $33.60 per share, are immediately exercisable and expire on March 21, 2019.  If the warrants are exercised in full prior to their expiration, the Company would receive additional proceeds of $61.2 million, excluding underwriter fees and other transaction expenses.
Stock-Based Compensation
The total number of shares issued or reserved for future issuance under outstanding stock options at September 30, 2018 and 2017 was 804,936 and 782,739, respectively, and the total number of shares of restricted stock and shares reserved for restricted stock units outstanding at September 30, 2018 and 2017 was 128,131 and 163,184, respectively. The total number of stock appreciation rights awards outstanding at September 30, 2018 and 2017 was 530,865 and 1,416,133, respectively. The following table presents a summary of the activity related to stock options, restricted stock, restricted stock unit awards and stock appreciation rights awards for the nine months ended September 30, 2018:
 
Stock Options
 
Restricted Stock and Unit Awards
 
Stock Appreciation Rights
 
Number of Shares
Outstanding at December 31, 2017
890,341

 
201,702

 
565,864

Granted
10,000

 
66,773

 
—

Stock options and stock appreciation rights exercised/restricted stock and unit awards vested
(70,086
)
 
(137,844
)
 
(34,999
)
Cancelled/forfeited
(25,319
)
 
(2,500
)
 
—

Outstanding at September 30, 2018
804,936

 
128,131

 
530,865


Stock-based compensation expense recognized for the nine months ended September 30, 2018 and 2017, totaled $2.5 million and $1.7 million, respectively. Stock appreciation rights expense recognized for the nine months ended September 30, 2018 and 2017, totaled $2.8 million and $0.5 million, respectively.