Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

v3.7.0.1
Stock-based compensation (Tables)
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of the Status of Stock Option Awards
A summary of the status of restricted stock awards and changes during the three months ended June 30, 2017 are presented below:
 
Number of Shares
 
Weighted Average
Grant Date Fair Value
 
 
 
 
Outstanding at December 31, 2016
716,250

 
$
2.73

Granted
410,000

 
2.13

Vested
(81,750
)
 
2.73

Cancelled, expired, or forfeited
(169,500
)
 
$
2.73

Outstanding at June 30, 2017
875,000

 
$
2.45

A summary of the status of stock option awards and changes during the three months ended June 30, 2017 is presented below:
 
Number of Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Intrinsic
Value
 
 
 
 
 
 
 
 
Outstanding at December 31, 2016
1,857,012

 
$
4.28

 
 
 
 
Granted
960,000

 
2.13

 
 
 
 
Cancelled, expired, or forfeited
656,477

 
$
3.21

 
 
 
 
Outstanding at June 30, 2017
2,160,535

 
$
3.65

 
7.47
 
$
35,400

Exercisable at June 30, 2017
897,718

 
$
4.74

 
5.15
 
$
—

Summary of Weighted Average Valuation Assumptions
A summary of the weighted-average assumptions utilized in the Black-Scholes option-pricing model to value the stock options granted during the six months ended June 30, 2017 are presented below:

Expected volatility
37
%
Risk-free rate of return
1.86
%
Expected life (in years)
6.50 years

Dividend yield
—

Weighted-average fair value
$
2.13