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Stockholder's Equity and Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Transactions Under the Stock Option Plans
Transactions under the stock option plans are summarized as follows:
 
Option Price
per Share
 
Outstanding
 
Vested
 
Available
for Grant
January 1, 2016
$34.20 - $245.85

 
560,797

 
384,305

 
97,003

Increase in shares authorized

 

 

 
1,150,940

Granted
3.10

 
415,000

 

 
(415,000
)
Vested

 

 
67,480

 

Cancelled/forfeited
3.10 - 245.85

 
(128,162
)
 
(103,432
)
 
18,895

Restricted stock granted out of option plans

 

 

 
(259,300
)
Restricted stock forfeited or cancelled for employee minimum income taxes and returned to the plans

 

 

 
7,182

December 31, 2016
$3.10 - $245.85

 
847,635

 
348,353

 
599,720

Granted
13.15

 
156,000

 

 
(156,000
)
Vested

 

 
149,537

 

Exercised
3.10

 
(15,000
)
 
(15,000
)
 

Cancelled/forfeited
3.10 - 245.85

 
(98,294
)
 
(47,612
)
 
82,118

Restricted stock granted out of option plans

 

 

 
(59,500
)
Restricted stock forfeited or cancelled for employee minimum income taxes and returned to the plans

 

 

 
22,065

December 31, 2017
3.10 - 245.85

 
890,341

 
435,278

 
488,403

Increase in shares authorized

 

 

 
1,200,000

Granted
24.50

 
10,000

 

 
(10,000
)
Vested

 

 
153,944

 

Exercised
3.10

 
(70,086
)
 
(70,086
)
 

Cancelled/forfeited
3.10 - 245.85

 
(44,365
)
 
(44,231
)
 
2,568

Restricted stock granted out of option plans

 

 

 
(996,775
)
Restricted stock forfeited or cancelled for employee minimum income taxes and returned to the plans

 

 

 
48,524

December 31, 2018
$3.10 - $151.35

 
785,890

 
474,905

 
732,720

Summary of Stock Options Outstanding
Stock options outstanding at December 31, 2018 are summarized as follows:
Option Price per Share
Outstanding
 
Weighted Average Exercise Price of Outstanding Options
 
Weighted Average Remaining Contract Life
 
Vested
 
Weighted Average Exercise Price of Vested Options
$3.10 - $57.90
558,997

 
$
15.64

 
7.2 years
 
248,012

 
$
24.32

$61.05 - $71.85
75,231

 
$
62.17

 
4.7 years
 
75,231

 
$
62.17

$81.60 - $99.60
108,610

 
$
88.94

 
3.6 years
 
108,610

 
$
88.94

$106.05 - $151.35
43,052

 
$
108.84

 
2.3 years
 
43,052

 
$
108.84

Totals
785,890

 
$
35.33

 
5.4 years
 
474,905

 
$
52.76

Additional Information Related to the Company's Stock Options
Additional information related to the Company’s stock options follows:
 
Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average Grant Date Fair Value
 
Weighted Average Remaining Contractual Life
 
Aggregate Intrinsic Value (000’s)
Total outstanding at January 1, 2018
890,341

 
$
36.17

 
 
 
6.4 years
 
$
6,774

Options granted
10,000

 
$
24.50

 
$
15.23

 
 
 
 
Options exercised
(70,086
)
 
$
3.10

 
 
 
 
 
 
Options cancelled
(134
)
 
$
61.05

 
 
 
 
 
 
Options forfeited
(44,231
)
 
$
100.85

 
 
 
 
 
 
Total outstanding at December 31, 2018
785,890

 
$
35.33

 
 
 
5.4 years
 
$
572

Options exercisable and vested at December 31, 2018
474,905

 
$
52.76

 
 
 
5 years
 
$
213

Schedule of Valuation Assumptions
The Company calculated the fair value of each stock option on the date of grant using the Black-Scholes option pricing model. The following assumptions were used for each respective period:
 
Years Ended December 31,
 
2018
 
2017
 
2016
Risk-free interest rates
2.78%
 
2.14%
 
1.3%
Expected lives (in years)
5.0
 
5.0
 
5.5
Expected dividend yield
—%
 
—%
 
—%
Expected volatility
73.67%
 
74.41%
 
78.76%
The following assumptions were used:
Risk-free interest rates
3.0
%
Expected lives (in years)
5.31

Expected dividend yield
%
Expected volatility
82.9
%
Status of the Company's Restricted Stock and Restricted Stock Unit Awards
The status of the Company’s restricted stock and restricted stock unit awards for 2018 follows:
 
Number of 
Shares/Units
Total nonvested at January 1, 2018
201,702

Granted
996,775

Vested
(151,852
)
Forfeited
(2,500
)
Total nonvested at December 31, 2018
1,044,125

Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity
Additional information related to the Company's SARs follows:
 
Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average Grant Date Fair Value
 
Weighted Average Remaining Contractual Life
 
Aggregate Intrinsic Value (000’s)
Total outstanding at January 1, 2016
216,532

 
$
34.67

 
 
 

 


SARs granted
1,210,000

 
$
3.10

 
$
17.55

 
 
 
 
SARs cancelled
(10,399
)
 
$
34.20

 
 
 
 
 
 
Total outstanding at December 31, 2016
1,416,133

 
$
7.70

 
 
 
 
 
 
SARs exercised
(713,330
)
 
$
3.10

 
 
 
 
 
 
SARs cancelled
(136,939
)
 
$
7.70

 
 
 
 
 
 
Total outstanding at December 31, 2017
565,864

 
$
13.49

 
 
 
 
 
 
SARs granted
960,009

 
$
8.85

 
8.85

 
 
 
 
SARs exercised
(34,999
)
 
$
3.10

 
 
 
 
 
 
SARs forfeited
(9,333
)
 
$
45.00

 
 
 
 
 
 
Total outstanding at December 31, 2018
1,481,541

 
$
10.53

 
 
 
8.1 years
 
$
718

SARs exercisable and vested at December 31, 2018

 
$

 
 
 
 
 
 
Summary of Stock-based Compensation Expense
The following tables summarizes stock-based compensation expense for the years ended December 31, 2018, 2017 and 2016 as follows (in thousands):
 
Years Ended December 31,
 
2018
 
2017
 
2016
Stock-based compensation expense
$
3,337

 
$
2,552

 
$
3,267

Tax benefit related thereto
(698
)
 
(862
)
 
(1,168
)
Stock-based compensation expense, net of tax
$
2,639

 
$
1,690

 
$
2,099


 
Years Ended December 31,
 
2018
 
2017
 
2016
Stock appreciation rights expense
$
822

 
$
6,611

 
547

Tax benefit related thereto
(173
)
 
(2,314
)
 
(191
)
Stock appreciation rights expense, net of tax
$
649

 
$
4,297

 
$
356