Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plan (Tables)

v3.8.0.1
Equity Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2017
Share-based Compensation, Stock Options, Activity
A summary of the Company’s stock option activity and related information is as follows:
 
 
 
2017
 
2016
 
 
 
Stock Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Life
(in years)
 
Stock Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Life
(in years)
 
Outstanding at January 1
 
 
1,385,204
 
$
6.89
 
 
7.5
 
 
1,332,323
 
$
6.94
 
 
8.4
 
Granted
 
 
167,725
 
$
2.99
 
 
 
 
 
96,138
 
$
5.95
 
 
 
 
Exercised
 
 
(26,743)
 
$
0.42
 
 
 
 
 
(4,607)
 
$
5.00
 
 
 
 
Forfeited/Expired/Exchanged
 
 
(293,950)
 
$
7.14
 
 
 
 
 
(38,650)
 
$
6.68
 
 
 
 
Outstanding at December 31
 
 
1,232,236
 
$
6.44
 
 
6.8
 
 
1,385,204
 
$
6.89
 
 
7.5
 
Exercisable at December 31
 
 
910,436
 
$
6.52
 
 
6.6
 
 
862,354
 
$
6.56
 
 
7.2
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range
The following table sets forth additional information about stock options outstanding at December 31, 2017:
 
Range of Exercise Prices
 
Options
Outstanding
 
Weighted Average
Remaining Life
(in years)
 
Weighted Average
Exercise Price
 
Options
Exercisable
 
$2.23 – $5.00
 
 
318,170
 
 
7.2
 
$
3.65
 
 
226,495
 
$5.01 – $7.50
 
 
453,528
 
 
6.5
 
$
6.96
 
 
340,078
 
$7.51 – $8.27
 
 
460,538
 
 
6.9
 
$
7.86
 
 
343,863
 
 
 
 
1,232,236
 
 
 
 
 
 
 
 
910,436
 
Employee Stock Option [Member]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The assumptions used in the Black-Scholes model are as follows:
 
 
 
For the year ended December 31,
 
 
 
2017
 
2016
 
Average risk-free interest rate
 
 
2.16
%
 
1.55
%
Expected dividend yield
 
 
—
%
 
—
%
Expected life
 
 
5.31 to 6.25 years
 
 
5.31 to 6.25 years
 
Expected volatility
 
 
65
%
 
55
%