Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

v3.5.0.2
Stock-based compensation (Tables)
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of the Status of Stock Option Awards
A summary of the status of stock option awards and changes during the six months ended June 30, 2016 are presented below:

 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Intrinsic
Value
 
 
 
 
 
 
 
 
Outstanding at December 31, 2015
1,672,578

 
$
5.01

 
 
 
 
Granted
1,250,000

 
$
2.75

 
 
 
 
Cancelled, expired, or forfeited
(296,066
)
 
$
4.88

 
 
 
 
Outstanding at June 30, 2016
2,626,512

 
$
4.06

 
7.96
 
$
—

Exercisable at June 30, 2016
749,205

 
$
4.87

 
6.91
 
$
—

A summary of the status of restricted stock awards and changes during the six months ended June 30, 2016 are presented below:


 
Shares
 
Weighted Average
Grant Date Fair Value
 
 
 
 
Outstanding at December 31, 2015
—

 
 
Granted
787,500

 
$
2.73

Cancelled, expired, or forfeited
(26,250
)
 
$
2.73

Outstanding at June 30, 2016
761,250

 
$
2.73

 
 
 
 
Exercisable at June 30, 2016
—

 
 
 
 
 
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
A summary of the weighted-average assumptions utilized in the Black-Scholes option-pricing model to value the stock options granted in the six months ended June 30, 2016 are presented below:

Expected volatility
37
%
Risk-free rate of return
1.16
%
Expected life (in years)
6.51 years

Dividend yield
—

Weighted-average fair value per share at date of grant
$
1.07