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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Impact on results of operations of recording share-based compensation
The following table summarizes the impact on MRV's results of operations of recording share-based compensation for the years ended December 31, 2014, 2013 and 2012 (in thousands):

 
 
2014
 
2013
 
2012
Cost of goods sold
 
$
116

 
$
98

 
$
39

Product development and engineering
 
166

 
66

 
40

Selling, general and administrative
 
677

 
549

 
1,050

Total share-based compensation expense (1)
 
$
959

 
$
713

 
$
1,129

 
 
 
 
 
 
 

(1)
Income tax benefits realized from stock option exercises and similar awards were immaterial in all periods
Restricted stock awards
The following table summarizes the activity that relates to the Company's restricted stock awards for the years ended December 31, 2014, 2013 and 2012 (share amounts):
 
2014
 
2013
 
2012
Non-vested restricted stock awards, January 1, 2014
81,193
 
37,514
 
5,148
Granted
100,355
 
91,388
 
39,326
Vested
(39,238)
 
(37,428)
 
(5,148)
Forfeited
(39,276)
 
(10,281)
 
(1,812)
Non-vested restricted stock awards, December 31, 2014
103,034
 
81,193
 
37,514
 
 
 
 
 
 
Weighted average assumptions used for estimating the fair value of options granted
The following weighted average assumptions were used for estimating the fair value of options granted during the years ended December 31, 2014, 2013 and 2012:

Year ended December 31,
2014
 
2013
 
2012
Risk-free interest rate
2.0
%
 
1.2
%
 
0.8
%
Dividend yield (1)
—

 
—

 
—

Volatility
50
%
 
52
%
 
89
%
Expected life (in years)
5.9

 
5.7

 
5.5

 
 
 
 
 
 

(1)
As the Company does not pay a dividend on a regular basis, and dividends paid in the past have been special in nature, a dividend rate of zero was used.
Summary of nonvested options
A summary of the Company's non-vested options as of December 31, 2014:
 
 
Shares
under option
 
Weighted average
exercise price
Non-vested options outstanding, January 1, 2014
 
89,480

 
 
$
12.65

 
Granted
 
198,647

 
 
$
14.11

 
Vested
 
(79,805
)
 
 
$
13.77

 
Canceled, forfeited or adjusted
 
(66,783
)
 
 
$
13.36

 
Non-vested outstanding, December 31, 2014
 
141,539

 
 
$
13.73

 
Significant ranges of outstanding and exercisable options
The following table summarizes significant ranges of outstanding and exercisable options at December 31, 2014:
Range of Exercise prices
 
Options
outstanding
as of
December 31,
2014
 
Weighted
average
remaining
contractual
life (years)
 
Weighted
average
exercise
price
 
Options
exercisable
as of
December 31,
2014
 
Weighted
average
exercise
price of
exercisable
options
$9.10 - $10.55
 
57,787

 
7.02
 
$
9.80

 
40,148

 
$
9.65

$13.32 - $13.60
 
43,092

 
8.24
 
$
13.44

 
10,204

 
$
13.60

$14.51 - $14.51
 
99,234

 
8.43
 
$
14.51

 
8,409

 
$
14.51

$15.53 - $23.80
 
27,849

 
3.36
 
$
23.06

 
27,849

 
$
23.06

$25.00 - $25.00
 
87,500

 
0.93
 
$
25.00

 
87,500

 
$
25.00

$27.60 - $33.20
 
44,902

 
3.09
 
$
28.69

 
44,902

 
$
28.69

$34.60 - $52.60
 
44,211

 
1.75
 
$
47.12

 
44,024

 
$
47.17

$57.40 - $64.80
 
1,475

 
1.34
 
$
62.21

 
1,475

 
$
62.21

$73.20 - $73.20
 
500

 
1.33
 
$
73.20

 
500

 
$
73.20

$79.20 - $79.20
 
1,400

 
1.12
 
$
79.20

 
1,400

 
$
79.20

$9.10 - $79.20
 
407,950

 
4.89
 
$
22.12

 
266,411

 
$
26.58
Option share-based payment award activity
The following table summarizes certain stock option exercise activity during the periods presented (in thousands):
Year ended December 31,
 
2014
 
2013
 
2012
Total intrinsic value of stock options exercised
 
$
17

 
$
—

 
$
—

Cash received from stock options exercised
 
$
72

 
$
—

 
$
—

The following table summarizes option share-based payment award activity for the one-year period ended December 31, 2014:
 
 
Shares
under option
 
Weighted average
exercise price
 
Weighted average
remaining contractual term
(in years)
 
Aggregate
intrinsic value
Outstanding, January 1, 2014
 
349,454

 
 
$
28.15

 
 
 
 
 
 
 

Granted
 
198,647

 
 
$
14.11

 
 
 
 
 
 
 

Exercised
 
(6,812
)
 
 
$
10.55

 
 
 
 
 
 
 

Canceled, forfeited or adjusted
 
(133,339
)
 
 
$
26.58

 
 
 
 
 
 
 

Outstanding, December 31, 2014
 
407,950

 
 
$
22.12

 
 
 
4.89
 
 
$
22,479

Vested and expected to vest, December 31, 2014
 
383,752

 
 
$
22.66

 
 
 
4.60
 
 
$
22,065

Exercisable, December 31, 2014
 
266,411

 
 
$
26.58

 
 
 
2.56
 
 
$
20,594