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