XML 45 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions Used to Compute Share-Based Compensation Costs for Stock Options Granted

The assumptions used to compute the share-based compensation costs for the stock options granted during the years ended December 31, 2016, 2015, and 2014, respectively, using the Black-Scholes option pricing model, were as follows:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Weighted average grant-date fair value of

   stock options

 

$

1.40

 

 

$

3.08

 

 

$

2.28

 

Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate (weighted average)

 

 

1.1

%

 

 

1.1

%

 

 

1.2

%

Expected dividend yield

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average expected life (years)

 

 

4.8

 

 

 

4.0

 

 

 

3.5

 

Volatility (weighted average)

 

 

74.3

%

 

 

83.5

%

 

 

82.9

%

Forfeiture rate

 

 

23.0

%

 

 

23.3

%

 

 

25.5

%

 
Assumptions Used Estimate Fair Value of Employee Stock Purchase Plans

Following is a schedule of the shares purchased, the fair value per share, and the Black-Scholes model assumptions for each offering period:

 

 

 

(Ending)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

March 31,

 

 

September 30,

 

 

March 31,

 

 

September 30,

 

Offering Period Ended

 

2016

 

 

2016

 

 

2015

 

 

2015

 

 

2014

 

Shares purchased for offering

   period

 

 

3,536

 

 

 

3,498

 

 

 

3,113

 

 

 

2,804

 

 

 

3,405

 

Fair value per share

 

$

0.77

 

 

$

1.24

 

 

$

2.39

 

 

$

1.72

 

 

$

3.32

 

Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate (average)

 

 

0.47

%

 

 

0.18

%

 

 

0.11

%

 

 

0.40

%

 

 

0.80

%

Expected dividend yield

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average expected life

   (years)

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Volatility (average)

 

 

40.4

%

 

 

66.1

%

 

 

103.8

%

 

 

109.1

%

 

 

74.0

%

 
Non-Cash Stock-Based Compensation Expenses

Non-cash stock-based compensation expenses related to stock options, restricted stock grants and the ESPP were recorded in the financial statements as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Cost of revenues

 

$

3

 

 

$

12

 

 

$

13

 

Selling and marketing

 

 

277

 

 

 

335

 

 

 

270

 

Research and development

 

 

495

 

 

 

644

 

 

 

659

 

General and administrative

 

 

753

 

 

 

1,167

 

 

 

1,437

 

Restructuring expense

 

 

—

 

 

 

—

 

 

 

1,273

 

Total non-cash stock compensation expense

 

$

1,528

 

 

$

2,158

 

 

$

3,652

 

 
Summary of Outstanding Stock Options and Related Activity

A summary of the Company’s stock options outstanding under the 2015 and 2005 Plans as of December 31, 2016 and the activity during the years ended herein are as follows (in thousands except per share amounts):

 

 

 

 

 

 

 

Weighted Ave.

 

 

Aggregate

 

 

 

Shares

 

 

Exercise Price

 

 

Intrinsic Value

 

Outstanding as of December 31, 2013

 

 

543

 

 

$

27.04

 

 

$

—

 

(393 options exercisable at a weighted average

   exercise price of $35.24)

 

 

 

 

 

 

 

 

 

 

 

 

Granted (weighted average fair value of $2.28)

 

 

158

 

 

$

3.80

 

 

 

 

 

Exercised

 

 

(1

)

 

$

5.52

 

 

 

 

 

Cancelled

 

 

(166

)

 

$

23.92

 

 

 

 

 

Outstanding as of December 31, 2014

 

 

534

 

 

$

21.16

 

 

$

—

 

(322 options exercisable at a weighted average

   exercise price of $32.16)

 

 

 

 

 

 

 

 

 

 

 

 

Granted (weighted average fair value of $3.08)

 

 

18

 

 

$

5.08

 

 

 

 

 

Exercised

 

 

(2

)

 

$

4.76

 

 

 

 

 

Cancelled

 

 

(139

)

 

$

16.20

 

 

 

 

 

Outstanding as of December 31, 2015

 

 

411

 

 

$

21.56

 

 

$

—

 

(1,291 options exercisable at a weighted average

   exercise price of $8.04)

 

 

 

 

 

 

 

 

 

 

 

 

Granted (weighted average fair value of $1.40)

 

 

33

 

 

$

2.36

 

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

Cancelled

 

 

(71

)

 

$

8.04

 

 

 

 

 

Outstanding as of December 31, 2016

 

 

373

 

 

$

22.44

 

 

$

—

 

Exercisable as of December 31, 2016

 

 

307

 

 

$

26.48

 

 

$

—

 

Vested and expected to vest at December 31, 2016

 

 

366

 

 

$

22.79

 

 

$

—

 

 
Summary of Outstanding Restricted Stock Awards and Related Activity

A summary of the Company’s restricted stock awards outstanding under the 2015 and 2005 Plans as of December 31, 2016, and the activity during years ended therein, are as follows (in thousands):

 

 

 

 

 

 

 

Weighted average

 

 

 

Number

 

 

grant date

 

 

 

of shares

 

 

fair value

 

Unvested at December 31, 2013

 

 

436

 

 

$

9.92

 

Granted

 

 

406

 

 

$

7.16

 

Vested

 

 

(360

)

 

$

9.92

 

Cancelled and forfeited

 

 

(51

)

 

$

7.16

 

Unvested at December 31, 2014

 

 

431

 

 

$

7.64

 

Granted

 

 

343

 

 

$

6.00

 

Vested

 

 

(252

)

 

$

7.80

 

Cancelled and forfeited

 

 

(71

)

 

$

6.68

 

Unvested at December 31, 2015

 

 

451

 

 

$

6.44

 

Granted

 

 

375

 

 

$

2.70

 

Vested

 

 

(253

)

 

$

5.83

 

Cancelled and forfeited

 

 

(139

)

 

$

4.16

 

Unvested at December 31, 2016

 

 

434

 

 

$

4.30