Annual report pursuant to Section 13 and 15(d)

Incentive Stock Plan (Tables)

v3.6.0.2
Incentive Stock Plan (Tables)
 12 Months Ended
Dec. 31, 2016
Incentive Stock Plan  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

 

 

 

 

 

 

Year ended December 31,

    

2016

    

2015

    

 

 

 

 

Expected term (in years)

 
4.6

 
4.0

 

Expected volatility

 
59.58

%  
69.08

%

Risk free rate

 
1.72

%  
1.40

%

Expected dividends

 

 —

%  

 —

%

 

Summary of stock option activity

 

 

 

 

 

 

 

 

 

    

 

    

 

    

Weighted

 

 

 

 

 

 

 

Average

 

 

 

 

 

Weighted

 

Remaining

 

 

 

 

 

Average

 

Contractual

 

 

 

Options

 

Exercise Price

 

Term(Years)

 

Outstanding at December 31, 2014:

 
2,743,818

 
3.03

 
5.94

 

Granted

 
946,250

 
4.31

 

 

 

Forfeited

 
(290,478)

 
(3.12)

 

 

 

Exercised

 
(171,563)

 
(2.99)

 

 

 

Outstanding at December 31, 2015:

 
3,228,027

 
3.40

 
5.43

 

Granted*

 
1,529,850

 
7.67

 

 

 

Forfeited

 
(75,938)

 
(3.74)

 

 

 

Exercised

 
(340,942)

 
(3.16)

 

 

 

Outstanding at December 31, 2016

 
4,340,997

 
4.92

 
5.93

 

Exercisable at December 31, 2016

 
2,219,671

 
3.19

 
7.83

 

 

Schedule of non-vested share-based payment activity with employees

 

 

 

 

 

 

 

    

 

    

Weighted Average

 

 

 

Number of Options

 

Exercise Price

 

Nonvested options -  December 31, 2014:

 
1,159,486

 
3.37

 

Granted

 
946,250

 
4.31

 

Vested

 
(635,289)

 
(3.32)

 

Forfeited

 
(290,478)

 
(3.12)

 

Nonvested options -  December 31, 2015:

 
1,179,969

 
4.21

 

Granted*

 
1,529,850

 
7.67

 

Vested

 
(512,562)

 
(4.21)

 

Forfeited

 
(75,938)

 
(3.74)

 

Nonvested options -  December 31, 2016:

 
2,121,319

 
6.72