Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

v3.8.0.1
Stock-based compensation (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2017 are presented below:
 
Number of Shares
 
Weighted Average
Grant Date Fair Value
 
 
 
 
Non-vested 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

Non-vested at September 30, 2017
875,000

 
$
2.45

A summary of the status of stock option awards and changes during the nine months ended September 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
674,977

 
$
3.24

 
 
 
 
Outstanding at September 30, 2017
2,142,035

 
$
3.65

 
7.23
 
$
—

Exercisable at September 30, 2017
986,211

 
$
4.63

 
5.36
 
$
—

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 nine months ended September 30, 2017 are presented below:

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

Dividend yield
—

Stock price at grant date
$
2.13