Annual report pursuant to Section 13 and 15(d)

Compensation and Other Benefit Plans (Tables)

v3.10.0.1
Compensation and Other Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

The following table summarizes the Company’s stock option activity for the year ended December 31, 2018:

 

 

Number of

shares

 

 

Weighted

Average

Exercise

Price

Per Share

 

 

Weighted

Average

Contractual Term

(in years)

 

 

Aggregate

Intrinsic

Value

(in

thousands)

 

Outstanding at beginning of year

 

1,622,065

 

 

$

24.54

 

 

 

 

 

 

 

 

 

Granted

 

305,708

 

 

 

27.09

 

 

 

 

 

 

 

 

 

Exercised

 

(68,093

)

 

 

5.39

 

 

 

 

 

 

 

 

 

Forfeited, expired or cancelled

 

(234,934

)

 

 

43.46

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 

1,624,746

 

 

$

23.09

 

 

 

7.5

 

 

$

8,104

 

Exercisable at end of period

 

1,102,036

 

 

$

26.01

 

 

 

7.0

 

 

$

6,089

 

Unvested RSU Activity

Unvested RSU activity for the year ended December 31, 2018 is summarized below:

 

 

 

 

 

 

Weighted-

 

 

Restricted Stock Units:

Number of

 

 

Average Grant-

 

 

 

Shares

 

 

Date Fair Value

 

 

Unvested balance at January 1, 2018

 

18,480

 

 

$

18.00

 

 

Vested

 

(18,047

)

 

 

18.27

 

 

Unvested balance at December 31, 2018

 

433

 

 

$

7.01

 

 

Weighted Average Assumptions

The fair value of stock options granted during the years ended December 31, 2018 and 2017, was estimated based on the following weighted average assumptions for:

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

Dividend yield

 

0

%

 

 

0

%

 

Expected volatility

 

101

%

 

 

100

%

 

Risk-free interest rate

 

2.72

%

 

 

1.90

%

 

Expected term

5.60 years

 

 

5.55 years

 

 

 

Stock-based Compensation Expense

The following table shows total stock-based compensation expense for stock options, RSUs and ESPP in the consolidated statements of operations and comprehensive (loss) income (in thousands):

 

 

Year Ended December 31,

 

 

2018

 

 

2017

 

Research and development

$

369

 

 

$

876

 

General and administrative

 

3,533

 

 

 

6,425

 

Total stock-based compensation expense

$

3,902

 

 

$

7,301