|9 Months Ended|
Sep. 30, 2019
|Share-based Payment Arrangement [Abstract]|
9. Stock-Based Compensation
A summary of the Company’s outstanding stock option activity for the nine months ended September 30, 2019 is 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 entire disclosure for share-based payment arrangement.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef