|3 Months Ended|
Mar. 31, 2016
|Disclosure of Compensation Related Costs, Share-based Payments [Abstract]|
9. Stock-Based Compensation
Option and Equity Plans
In January 2016, the aggregate number of shares issuable under the 2012 Employee, Director and Consultant Equity Incentive Plan (the 2012 Plan) was increased by 37,879 to 342,425, in accordance with the 2012 plan.
The total number of shares available for grant under the 2012 Plan at March 31, 2016 was 121,248.
A summary of the Companys stock option activity for the three months ended March 31, 2016 was as follows:
The Company estimates the fair value of each stock option on the grant date using the Black-Scholes-Merton valuation model, which requires several estimates including an estimate of the fair value of the underlying common stock on grant date. The expected volatility was based on an average of the historical volatility of a peer group of similar companies. The expected term was calculated utilizing the simplified method. The risk-free interest rate was based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option. The following weighted average assumptions were used in the calculation to estimate the fair value of options granted to employees during the three months ended March 31, 2016 and 2015:
Summary of Stock-Based Compensation Expense
Total stock-based compensation expense included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows (in thousands):
Unrecognized stock-based compensation at March 31, 2016 was as follows (in thousands):
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef