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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
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 continuing operations of recording share-based compensation for the years ended December 31, 2015, 2014 and 2013 (in thousands):

Year Ended December 31:
 
2015
 
2014
 
2013
Cost of goods sold
 
$
131

 
$
113

 
$
92

Product development and engineering
 
232

 
166

 
66

Selling, general and administrative
 
756

 
653

 
509

Total share-based compensation expense (1)
 
$
1,119

 
$
932

 
$
667


(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, 2015, 2014 and 2013 (share amounts):
Year Ended December 31:
 
2015
 
2014
 
2013
Non-vested restricted stock awards, January 1, 2015
 
103,034
 
81,193
 
37,514
Granted
 
95,587
 
100,355
 
91,388
Vested
 
(41,136)
 
(39,238)
 
(37,428)
Forfeited
 
(14,306)
 
(39,276)
 
(10,281)
Non-vested restricted stock awards, December 31, 2015
 
143,179
 
103,034
 
81,193
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, 2015, 2014 and 2013:
Year ended December 31:
 
2015
 
2014
 
2013
Risk-free interest rate
 
1.7
%
 
2.0
%
 
1.2
%
Dividend yield (1)
 
—

 
—

 
—

Volatility
 
43
%
 
50
%
 
52
%
Expected life (in years)
 
5.9

 
5.9

 
5.7


(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.
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:
 
2015
 
2014
 
2013
Total intrinsic value of stock options exercised
 
$
42

 
$
17

 
$
—

Cash received from stock options exercised
 
$
190

 
$
72

 
$
—

The following table summarizes option share-based payment award activity for the one-year period ended December 31, 2015:
 
 
Shares
under option
 
Weighted average
exercise price
 
Weighted average
remaining contractual term
(in years)
 
Aggregate
intrinsic value
Outstanding, January 1, 2015
 
407,950

 
 
$
22.12

 
 
 
 
 
 
 

Granted
 
255,914

 
 
$
10.46

 
 
 
 
 
 
 

Exercised
 
(16,878
)
 
 
$
11.27

 
 
 
 
 
 
 

Canceled, forfeited or adjusted
 
(183,073
)
 
 
$
23.84

 
 
 
 
 
 
 

Outstanding, December 31, 2015
 
463,913

 
 
$
15.10

 
 
 
7.96
 
 
$
614,591

Vested and expected to vest, December 31, 2015
 
407,713

 
 
$
15.67

 
 
 
7.78
 
 
$
516,599

Exercisable, December 31, 2015
 
151,858

 
 
$
23.23

 
 
 
5.55
 
 
$
97,866
Summary of nonvested options
A summary of the Company's non-vested options as of December 31, 2015:
 
 
Shares
under option
 
Weighted average
exercise price
Non-vested options outstanding, January 1, 2015
 
140,276

 
$
13.73

Granted
 
255,914

 
$
10.46

Vested
 
(63,976
)
 
$
13.46

Canceled, forfeited or adjusted
 
(20,159
)
 
$
13.08

Non-vested outstanding, December 31, 2015
 
312,055

 
$
11.20
Significant ranges of outstanding and exercisable options
The following table summarizes significant ranges of outstanding and exercisable options at December 31, 2015:
Range of Exercise prices
 
Options
outstanding
as of
December 31,
2015
 
Weighted
average
remaining
contractual
life (years)
 
Weighted
average
exercise
price
 
Options
exercisable
as of
December 31,
2015
 
Weighted
average
exercise
price of
exercisable
options
$9.10 - $9.10
 
24,812

 
7.42
 
$
9.10

 
24,812

 
$
9.10

$9.63 - $9.63
 
193,848

 
9.30
 
$
9.63

 
—

 
$
—

$9.72 - $13.32
 
63,928

 
8.90
 
$
11.98

 
27,331

 
$
12.19

$13.40 - $13.60
 
38,589

 
8.95
 
$
13.45

 
11,095

 
$
13.52

$14.51 - $14.51
 
73,932

 
7.85
 
$
14.51

 
24,816

 
$
14.51

$16.80 - $48.80
 
50,004

 
3.73
 
$
30.38

 
45,004

 
$
31.57

$51.20 - $57.40
 
16,675

 
1.40
 
$
52.62

 
16,675

 
$
52.62

$64.80 - $64.80
 
375

 
0.42
 
$
64.80

 
375

 
$
64.80

$73.20 - $73.20
 
500

 
0.33
 
$
73.20

 
500

 
$
73.20

$79.20 - $79.20
 
1,250

 
0.25
 
$
79.20

 
1,250

 
$
79.20

$9.10 - $79.20
 
463,913

 
7.96
 
$
15.10

 
151,858

 
$
23.23