Annual report pursuant to Section 13 and 15(d) 12-31-2014

Stock-Based Compensation (Tables)

v2.4.1.9
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Stock Option Activity

A summary of the Company’s stock option activity for the year ended December 31, 2014 was as follows:

 

 

 

Options

 

 

Weighted-Average

Exercise Price

 

 

Weighted-Average Remaining Contractual Life

(Years)

 

 

Intrinsic Value

 

Outstanding at December 31, 2013

 

 

106,544

 

 

$

28.90

 

 

 

 

 

 

 

 

 

Granted

 

 

1,448,751

 

 

$

3.30

 

 

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(157,102

)

 

$

3.84

 

 

 

 

 

 

 

 

 

Expired

 

 

(14,714

)

 

$

10.54

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2014

 

 

1,383,479

 

 

$

5.13

 

 

 

9.2

 

 

$

18,600

 

Exercisable at December 31, 2014

 

 

339,110

 

 

$

11.42

 

 

 

8.1

 

 

$

-

 

Vested and expected to vest at December 31, 2014

 

 

1,327,485

 

 

$

5.22

 

 

 

9.2

 

 

$

17,700

 

 

Schedule of Black-Scholes-Merton Option Pricing Model

The following assumptions were used in the Black-Scholes-Merton valuation model related to non-employee stock options granted during the years ended December 31, 2014 and 2013:

 

 

 

December 31,

2014

 

 

December 31,

2013

 

Weighted-average risk-free interest rate

 

 

2.52

%

 

 

2.74

%

Weighted-average expected life (in years)

 

 

9.7

 

 

 

10.0

 

Expected dividend yield

 

 

0

%

 

 

0

%

Weighted-average expected volatility

 

 

44

%

 

 

52

%

 

Summary of Restricted Stock Unit Activity

Restricted stock awards (“RSA”) activity for the year ended December 31, 2014 was as follows:

 

 

 

Number of

Awards

 

 

Weighted-Average

Grant Date

Fair Value

 

Unvested at December 31, 2013

 

 

168,832

 

 

$

14.36

 

Granted

 

 

1,815,259

 

 

$

5.71

 

Vested

 

 

(1,650,562

)

 

$

6.09

 

Forfeited

 

 

(333,529

)

 

$

5.98

 

Unvested at December 31, 2014

 

 

-

 

 

 

 

 

 

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Total stock-based compensation expense included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2014

 

 

2013

 

Cost of revenue

 

$

317

 

 

$

-

 

Research and development

 

 

1,318

 

 

 

56

 

General and administrative

 

 

6,244

 

 

 

224

 

Selling and marketing

 

 

2,338

 

 

 

273

 

Capitalized into inventory

 

 

784

 

 

 

2

 

Total stock-based compensation expense

 

$

11,001

 

 

$

555

 

 

Schedule of Unrecognized Compensation Cost, Nonvested Awards

Unrecognized stock-based compensation at December 31, 2014 was as follows (in thousands):

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Unrecognized

 

 

Remaining Period

 

 

 

Stock-Based

 

 

of Recognition

 

 

 

Compensation

 

 

(in years)

 

Stock options

 

$

1,197

 

 

 

2.1

 

 

Employee Stock Option  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Black-Scholes-Merton Option Pricing Model

Weighted-average risk-free interest rate

 

 

1.85

%

Weighted-average expected life (in years)

 

 

6.30

 

Expected dividend yield

 

 

0

%

Weighted-average expected volatility

 

 

47

%