v3.3.1.900
Equity (Tables)
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12 Months Ended |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Stock options activity |
Activity with respect to the stock options is summarized as follows: | | | | | | | | | | | | | | | Number of Shares | | Weighted- Average Exercise Price | | Weighted- Average Remaining Contractual Term (in years) | | Aggregate Intrinsic Value | | 16,474,227 |
| | $ | 3.43 |
| | | | | Granted | 75,100 |
| | $ | 9.66 |
| | | | | Exercised | (2,220,881 | ) | | $ | 2.08 |
| | | | | Unvested options forfeited | (239,322 | ) | | $ | 6.66 |
| | | | | Vested options expired | (69,495 | ) | | $ | 2.61 |
| | | | | | 14,019,629 |
| | $ | 3.62 |
| | 6.5 | | $ | 80,740,577 |
| | 10,951,694 |
| | $ | 2.80 |
| | 6.2 | | $ | 71,955,234 |
| | 13,917,122 |
| | $ | 3.60 |
| | 6.5 | | $ | 80,496,150 |
|
| | (a) | Includes forfeiture adjusted unvested shares. |
|
| Summary of stock options outstanding and exercisable |
Following is a summary of stock options outstanding and exercisable at December 31, 2015: | | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | Range of Exercise Prices | Number outstanding | | Weighted- Average Remaining Contractual Term (in years) | | Weighted- Average Exercise Price | | Number Exercisable | | Weighted- Average Exercise Price | $0.50 - $0.76 | 441,429 |
| | 3.4 | | $ | 0.72 |
| | 441,429 |
| | $ | 0.72 |
| $0.87 - $1.35 | 4,783,304 |
| | 5.7 | | 1.19 |
| | 4,783,304 |
| | 1.19 |
| $1.40 - $2.45 | 1,641,928 |
| | 5.1 | | 1.93 |
| | 1,641,928 |
| | 1.93 |
| $2.66 - $3.99 | 957,454 |
| | 6.8 | | 3.05 |
| | 907,452 |
| | 3.00 |
| $4.19 - $6.38 | 3,552,323 |
| | 7.4 | | 5.35 |
| | 2,229,386 |
| | 5.32 |
| $6.45- $9.78 | 2,527,525 |
| | 8.1 | | 7.29 |
| | 914,703 |
| | 7.18 |
| $9.90 - $10.99 | 115,666 |
| | 8.9 | | 10.43 |
| | 33,492 |
| | 10.50 |
| | 14,019,629 |
| | 6.5 | | $ | 3.62 |
| | 10,951,694 |
| | $ | 2.80 |
|
|
| Unvested stock options roll forward |
| | | | | | | | Unvested Stock Options | Number of
Shares | | Weighted-
Average
Grant Date Fair Value | | 7,193,577 |
| | $ | 3.08 |
| Granted | 75,100 |
| | $ | 5.15 |
| Cancelled | (239,322 | ) | | $ | 3.79 |
| Vested | (3,961,420 | ) | | $ | 2.53 |
| | 3,067,935 |
| | $ | 3.81 |
|
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| Fair value of options valuation assumptions |
The assumptions used in calculating the fair value of options using the Black-Scholes-Merton option-pricing model are set forth in the following table: | | | | | | | | | | | | | 2015 | | 2014 | | 2013 | Expected volatility | 54.35 - 58.14% |
| | 58.14 - 64.50% |
| | 61.41 - 64.77% |
| Expected life (in years) | 6 |
| | 6 |
| | 6 |
| Expected dividend yield | — |
| | — |
| | — |
| Risk-free interest rate | 1.51 - 1.68% |
| | 1.64 - 1.96% |
| | 0.85 - 1.88% |
|
|
| Restricted stock awards roll forward |
Following is summary information for restricted stock awards for the year ended December 31, 2015. Shares vest over a one to three year period. As of December 31, 2015, there was approximately $16,606,000 of total unrecognized stock-based compensation related to time-based, non-vested restricted stock. That expense is expected to be recognized on a straight-line basis over a weighted-average period of 2.1 years. Additionally, during the twelve months ended December 31, 2015, 5,172 shares of common stock valued at approximately $57,000 were issued under the 2006 Plan to a consultant in return for services performed. | | | | | | | | | | | Number of
Shares | | Weighted-Average Grant Date
Fair Value | | | 1,228,898 |
| | $ | 7.16 |
| Granted | | 1,974,259 |
| | $ | 9.80 |
| Vested | | (517,883 | ) | | $ | 6.90 |
| Forfeited | | (72,007 | ) | | $ | 9.77 |
| | | 2,613,267 |
| | $ | 9.14 |
|
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| Allocation of share-based compensation |
For the years ended December 31, 2015, 2014, and 2013 the Company recognized stock-based compensation as follows (in thousands): | | | | | | | | | | | | | | | | 2015 | | 2014 | | 2013 | Cost of sales | $ | 352 |
| | $ | 322 |
| | $ | 279 |
| Research and development | 790 |
| | 660 |
| | 417 |
| Selling, general and administrative | 15,754 |
| | 10,471 |
| | 5,314 |
| | $ | 16,896 |
| | $ | 11,453 |
| | $ | 6,010 |
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| X |
- DefinitionTabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 14.F)
-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
-Section F
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- DefinitionTabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.
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| X |
- DefinitionTabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.
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| X |
- DefinitionTabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.
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| X |
- DefinitionDisclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.
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| X |
- DefinitionTabular disclosure of the change in stock options.
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