Annual report pursuant to Section 13 and 15(d)

Stock Options (Tables)

v3.6.0.2
Stock Options (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Weighted Average Assumptions Used in Estimating Fair Value of Stock Options

 

 

 

December 31, 2016

 

 

December 31, 2015

 

 

December 31, 2014

 

Valuation assumptions:

 

 

 

 

 

 

 

 

 

 

 

 

Expected dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

Expected volatility

 

 

41.82

%

 

 

56.74

%

 

 

64.40

%

Expected term (years)

 

 

6.07

 

 

 

5.42

 

 

 

5.74

 

Risk-free interest rate

 

 

1.6

%

 

 

1.7

%

 

 

1.9

%

 

Summary of Outstanding Stock Option Activity

Stock option activity during the periods indicated is as follows:

 

 

 

Number

of shares

 

 

Weighted

average

exercise

price

 

 

Weighted average remaining contractual term

 

Balance at December 31, 2013

 

 

364,450

 

 

$

2.73

 

 

 

4.3

 

Granted

 

 

255,600

 

 

 

2.70

 

 

 

9.2

 

Exercised

 

 

(100

)

 

 

2.20

 

 

-

 

Expired/Forfeited

 

 

(115,400

)

 

 

3.22

 

 

-

 

Balance at December 31, 2014

 

 

504,550

 

 

$

2.60

 

 

 

5.8

 

Granted

 

 

512,402

 

 

 

2.00

 

 

 

9.2

 

Exercised

 

 

(24,260

)

 

 

3.19

 

 

 

 

Expired/Forfeited

 

 

(236,000

)

 

 

2.77

 

 

 

 

Balance at December 31, 2015

 

 

756,692

 

 

$

2.10

 

 

 

7.6

 

Granted

 

 

359,319

 

 

 

2.60

 

 

 

9.4

 

Exercised

 

 

(58,155

)

 

 

2.36

 

 

 

3.5

 

Expired/Forfeited

 

 

(17,469

)

 

 

2.13

 

 

 

2.6

 

Balance at December 31, 2016

 

 

1,040,387

 

 

$

2.25

 

 

 

7.8

 

Vested and exercisable at

   December 31, 2016

 

 

628,933

 

 

$

2.05

 

 

 

7.0

 

Vested and expected to vest at

   December 31, 2016

 

 

1,012,596

 

 

$

2.24

 

 

 

7.8