Annual report pursuant to Section 13 and 15(d)

Stock Plans and Stock-Based Compensation (Tables)

v2.4.0.8
Stock Plans and Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions used to calculate fair value for stock based awards
The following assumptions were used:
 
 
 
 
2013
 
 
 
2012
 
Stock option plans
 
 
 
 
 
 
 
 
Exercise price
 
 
$1.71–$9.21
 
 
 
$4.75–$7.84
 
Expected stock price volatility
 
 
81.3%–112.7%
 
 
 
87.3%–114.3%
 
Risk free rate of interest
 
 
1.01%–3.04%
 
 
 
0.16%–2.23%
 
Expected life of options
 
 
6 years–10 years
 
 
 
2 years–10 years
 
Components of Stock-Based Compensation Expenses
The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted common stock awards and warrants for the years ended December 31, 2013, 2012 and 2011, and from the period June 28, 2006 (Date of Inception) December 31, 2013:
 
 
 
 
 
 
 
 
 
Period from
 
 
 
 
 
 
 
 
 
June 28, 2006
 
 
 
 
 
 
 
 
 
(Date of Inception) to
 
 
 
2013
 
2012
 
2011
 
December 31, 2013
 
($ in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
Employee awards
 
$
4,867
 
$
2,408
 
$
520
 
$
8,072
 
Non-employee awards
 
 
897
 
 
664
 
 
662
 
 
4,310
 
Non-employee warrants
 
 
138
 
 
566
 
 
287
 
 
1,032
 
Total compensation expense
 
$
5,902
 
$
3,638
 
$
1,469
 
$
13,414
 
Summary of Stock Option Activity
The following table summarizes stock option activity:
 
 
 
Outstanding Options
 
Weighted
 
 
 
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Total
Weighted
Average
Intrinsic
Value
 
Average
Remaining
Contractual
Life
(in years)
 
($ in thousands except per share amounts)
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2012
 
2,519,070
 
$
3.37
 
$
2,860
 
8.54
 
Options granted
 
2,466,590
 
$
5.34
 
 
—
 
 
 
Options exercised
 
(550,157)
 
$
1.76
 
 
478
 
 
 
Options cancelled/forfeited
 
(1,317,726)
 
$
5.51
 
 
—
 
 
 
Outstanding at December 31, 2013
 
3,117,777
 
$
4.31
 
$
—
 
8.36
 
Options vested and expected to vest
 
3,117,777
 
$
4.31
 
$
—
 
8.36
 
Options vested and exercisable
 
2,169,444
 
$
3.75
 
$
—
 
7.87
 
Nonvested Restricted Stock Shares Activity
The following table summarizes restricted stock activity:
 
 
 
Restricted Stock
 
 
 
 
 
Weighted
 
 
 
 
 
Average Grant
 
 
 
Number of
 
Date
 
 
 
Shares
 
Fair Value
 
Unvested balance at December 31, 2012
 
—
 
$
—
 
Restricted stock granted
 
3,958,692
 
 
1.93
 
Restricted stock vested
 
—
 
 
—
 
Restricted stock forfeited
 
—
 
 
—
 
 
 
 
 
 
 
 
Unvested balance at December 31, 2013
 
3,958,692
 
$
1.93