Severance Charge

12 Months Ended

Dec. 31, 2015

16. Severance Charge

In 2015, the Company recorded a severance charge of $289,000 related to the departure of an executive, which included severance period compensation and benefits and stock-based compensation related to the accelerated vesting of stock options.

The Company incurred a severance charge of $1,864,000 in 2014 related to the departure of its Chief Executive Officer in September 2014. The charge consisted of severance-period cash compensation and benefits and non-cash stock-based compensation expense related to the accelerated vesting of stock options, pursuant to his employment agreement with the Company.

The severance accrual related to cash compensation and benefits as of December 31, 2014 and December 31, 2015 is as follows:



Accrued severance, December 31, 2014	$	555,000
Cash payments in 2015		(529,000)
Additions in 2015		282,000
Accrued severance, December 31, 2015	$	308,000