Capital Stock

12 Months Ended

Dec. 31, 2011

Capital Stock [Abstract]

Capital Stock

(10) Capital Stock

In October 1998, pursuant to a Stockholder Rights Agreement between Nanophase and LaSalle National Association, as Rights Agent, the Company declared a dividend of one Preferred Stock Purchase Right (a "Right") for each outstanding share of Company common stock on November 10, 1998 and each share of common stock issued by the Company after such date. The Stockholder Rights Agreement, as subsequently amended, terminated pursuant to the terms of the plan during October 2011. The underlying Rights terminated upon termination of the Stockholder Rights Agreement.

On August 23, 2010, our shareholders approved an increase to our authorized number of shares of common stock from 30,000,000 to 35,000,000. As of December 31, 2011 and 2010, the Company has 24,088 authorized shares of preferred stock, of which 2,500 shares had been designated as Series A Junior Participating Preferred Stock and reserved for issuance in connection with the Rights described above. In addition, as of December 31, 2011, 1,604,905 authorized but unissued shares of common stock have been reserved for future issuance upon exercise of stock options.