Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

v3.5.0.2
Stock-based compensation (Tables)
 9 Months Ended
Sep. 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 nine months ended September 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
560,000

 
2.73

 
 
 
 
Cancelled, expired, or forfeited
(353,566
)
 
$
5.01

 
 
 
 
Outstanding at September 30, 2016
1,879,012

 
$
4.29

 
7.86
 
$
—

Exercisable at September 30, 2016
765,311

 
$
4.77

 
7.12
 
$
—

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


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

 
 
Granted
795,000

 
$
2.73

Cancelled, expired, or forfeited
(30,000
)
 
$
2.73

Outstanding at September 30, 2016
765,000

 
$
2.73

 
 
 
 
Exercisable at September 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 during the nine months ended September 30, 2016 are presented below:

Expected volatility
37
%
Risk-free rate of return
1.37
%
Expected life (in years)
7.16 years

Dividend yield
—

Weighted-average fair value
$
1.12