Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
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| 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:
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Year Ended December 31, |
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2016 |
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2015 |
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2014 |
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Weighted average grant-date fair value of
stock options |
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$ |
1.40 |
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$ |
3.08 |
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$ |
2.28 |
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Assumptions |
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Risk-free interest rate (weighted average) |
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1.1 |
% |
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1.1 |
% |
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1.2 |
% |
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Expected dividend yield |
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— |
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— |
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— |
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Weighted average expected life (years) |
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4.8 |
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4.0 |
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3.5 |
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Volatility (weighted average) |
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74.3 |
% |
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83.5 |
% |
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|
82.9 |
% |
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Forfeiture rate |
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|
23.0 |
% |
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23.3 |
% |
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25.5 |
% |
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| 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:
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(Ending) |
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September 30, |
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March 31, |
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September 30, |
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March 31, |
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September 30, |
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Offering Period Ended |
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2016 |
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2016 |
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2015 |
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2015 |
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2014 |
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Shares purchased for offering
period |
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3,536 |
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3,498 |
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3,113 |
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2,804 |
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3,405 |
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Fair value per share |
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$ |
0.77 |
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$ |
1.24 |
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$ |
2.39 |
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$ |
1.72 |
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$ |
3.32 |
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Assumptions |
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Risk-free interest rate (average) |
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0.47 |
% |
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0.18 |
% |
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0.11 |
% |
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0.40 |
% |
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|
0.80 |
% |
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Expected dividend yield |
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— |
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— |
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— |
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— |
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— |
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Weighted average expected life
(years) |
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0.5 |
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0.5 |
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0.5 |
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0.5 |
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0.5 |
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Volatility (average) |
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40.4 |
% |
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66.1 |
% |
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103.8 |
% |
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109.1 |
% |
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74.0 |
% |
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| 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):
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Year Ended December 31, |
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2016 |
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2015 |
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2014 |
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Cost of revenues |
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$ |
3 |
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$ |
12 |
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$ |
13 |
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Selling and marketing |
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277 |
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335 |
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270 |
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Research and development |
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495 |
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644 |
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659 |
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General and administrative |
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753 |
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1,167 |
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1,437 |
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Restructuring expense |
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— |
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— |
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1,273 |
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Total non-cash stock compensation expense |
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$ |
1,528 |
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$ |
2,158 |
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$ |
3,652 |
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| 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):
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Weighted Ave. |
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Aggregate |
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Shares |
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Exercise Price |
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Intrinsic Value |
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Outstanding as of December 31, 2013 |
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543 |
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$ |
27.04 |
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$ |
— |
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(393 options exercisable at a weighted average
exercise price of $35.24) |
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Granted (weighted average fair value of $2.28) |
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158 |
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$ |
3.80 |
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Exercised |
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(1 |
) |
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$ |
5.52 |
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Cancelled |
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(166 |
) |
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$ |
23.92 |
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Outstanding as of December 31, 2014 |
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|
534 |
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$ |
21.16 |
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$ |
— |
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(322 options exercisable at a weighted average
exercise price of $32.16) |
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Granted (weighted average fair value of $3.08) |
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18 |
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$ |
5.08 |
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Exercised |
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(2 |
) |
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$ |
4.76 |
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Cancelled |
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(139 |
) |
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$ |
16.20 |
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Outstanding as of December 31, 2015 |
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|
411 |
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$ |
21.56 |
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$ |
— |
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(1,291 options exercisable at a weighted average
exercise price of $8.04) |
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Granted (weighted average fair value of $1.40) |
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33 |
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$ |
2.36 |
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Exercised |
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— |
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$ |
— |
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Cancelled |
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(71 |
) |
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$ |
8.04 |
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Outstanding as of December 31, 2016 |
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373 |
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$ |
22.44 |
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$ |
— |
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Exercisable as of December 31, 2016 |
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307 |
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$ |
26.48 |
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$ |
— |
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Vested and expected to vest at December 31, 2016 |
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366 |
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$ |
22.79 |
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$ |
— |
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| 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):
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Weighted average |
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Number |
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grant date |
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of shares |
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fair value |
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Unvested at December 31, 2013 |
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436 |
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$ |
9.92 |
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Granted |
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406 |
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$ |
7.16 |
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Vested |
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(360 |
) |
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$ |
9.92 |
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Cancelled and forfeited |
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(51 |
) |
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$ |
7.16 |
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Unvested at December 31, 2014 |
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431 |
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$ |
7.64 |
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Granted |
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343 |
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$ |
6.00 |
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Vested |
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(252 |
) |
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$ |
7.80 |
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Cancelled and forfeited |
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(71 |
) |
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$ |
6.68 |
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Unvested at December 31, 2015 |
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451 |
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$ |
6.44 |
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Granted |
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375 |
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$ |
2.70 |
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Vested |
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(253 |
) |
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$ |
5.83 |
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Cancelled and forfeited |
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(139 |
) |
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$ |
4.16 |
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Unvested at December 31, 2016 |
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434 |
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$ |
4.30 |
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