Annual report pursuant to Section 13 and 15(d)

Compensation and Other Benefit Plans (Tables)

v2.4.0.6
Compensation and Other Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2012
Compensation and Other Benefit Plans [Abstract]  
Stock option activity
A summary of the status of the Company's stock option plans as of December 31, 2012, 2011 and 2010, and changes during the years ended on those dates is presented below:
 
2012
 
 
2011
 
 
2010
 
Options:
 
Shares
 
 
Price*
 
 
Shares
 
 
Price*
 
 
Shares
 
 
Price*
 
Outstanding at beginning of year
 
 
5,053,435
 
 
$
12.55
 
 
 
2,331,450
 
 
$
25.36
 
 
 
1,520,102
 
 
$
38.40
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
2,351,445
 
 
 
2.59
 
 
 
2,920,166
 
 
 
2.81
 
 
 
978,264
 
 
 
7.07
 
Exercised
 
 
(90,252
 )
 
 
1.68
 
 
 
-
 
 
 
-
 
 
 
(19
 )
 
 
8.40
 
Forfeited, expired or cancelled
 
 
(526,245
 )
 
 
15.84
 
 
 
(198,181
 )
 
 
35.56
 
 
 
(166,897
 )
 
 
37.26
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at end of year
 
 
6,788,383
 
 
 
8.99
 
 
 
5,053,435
 
 
 
12.55
 
 
 
2,331,450
 
 
 
25.36
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at end of year
 
 
4,276,834
 
 
$
12.42
 
 
 
3,366,807
 
 
$
16.33
 
 
 
1,259,272
 
 
$
36.51
 

*
Weighted-average exercise price
Unvested RSU activity
Unvested RSU activity for the year ended December 31, 2012 is summarized below:
 
 
 
 
Weighted-
 
 
Number of
 
 
Average Grant-
 
 
Shares
 
 
Date Fair Value
 
Unvested balance at December 31, 2011
 
 
903,874
 
 
$
1.69
 
Granted
 
 
1,292,923
 
 
 
2.83
 
Vested
 
 
(590,862
 )
 
 
2.27
 
Forfeited
 
 
(212,055
 )
 
 
1.69
 
Unvested balance at December 31, 2012
 
 
1,393,880
 
 
$
2.75
 
Weighted average assumptions
The fair value of stock option awards was estimated using the Black-Scholes model with the following weighted average assumptions for the years ended December 31, 2012, 2011 and 2010:
 
Year Ended December 31,
 
 
2012
 
 
2011
 
 
2010
 
Dividend yield
 
 
0
 %
 
 
0
 %
 
 
0
 %
Expected volatility
 
 
92
 %
 
 
88
 %
 
 
79
 %
Risk-free interest rate
 
 
0.82
 %
 
 
1.48
 %
 
 
1.67
 %
Expected term
 
5.6 years
 
 
5.4 years
 
 
5.3 years
 
Stock-based compensation expense
The following table shows total stock-based compensation expense included in the consolidated statements of comprehensive loss for the years ended December 31, 2012, 2011 and 2010 (in thousands):
 
Year Ended December 31,
 
 
2012
 
 
2011
 
 
2010
 
Research and development
 
$
2,391
 
 
$
3,672
 
 
$
2,302
 
Selling, general and administrative
 
 
1,893
 
 
 
4,087
 
 
 
2,611
 
Total stock-based compensation expense
 
$
4,284
 
 
$
7,759
 
 
$
4,913