Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v2.4.1.9
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2014
STOCK-BASED COMPENSATION  
Schedule of fair values of stock options granted, estimated using Black-Scholes option valuation model assumptions

 

 

Option Grants
Awarded During the
Year Ended December
31, 2014

 

Stock Price

 

$5.79 to $8.06

 

Dividend Yield

 

0%

 

Expected Volatility

 

56.6% - 82.2%

 

Risk-free interest rate

 

1.52% - 2.56%

 

Expected Life

 

4 to 7 years

 

 

 

Summary of stock option activity

 

 

Number of
Options

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Grant Date
Fair Value

 

Weighted
Average
Remaining
Life In
Years

 

Total Grant
Date Fair
Value

 

Outstanding, January 1, 2014

 

—

 

$

—

 

$

—

 

—

 

$

—

 

Granted

 
491,200 

 
6.29 

 
4.14 

 
9.42 

 
2,033,709 

 

Exercised

 

—

 

—

 

—

 

—

 

—

 

Forfeited

 

—

 

—

 

—

 

—

 

—

 

Outstanding, December 31, 2014

 
491,200 

 

$
6.29 

 

$
4.14 

 
9.42 

 

$
2,033,709 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, January 1, 2014

 

—

 

$

—

 

$

—

 

—

 

$

—

 

Vested

 
142,895 

 
6.02 

 
4.01 

 
9.41 

 
573,691 

 

Exercised

 

—

 

—

 

—

 

—

 

—

 

Forfeited

 

—

 

—

 

—

 

—

 

—

 

Exercisable, December 31, 2014

 
142,895 

 

$
6.02 

 

$
4.01 

 
9.41 

 

$
573,691 

 

 

Schedule of information related to stock options outstanding and exercisable

Options Outstanding

 

Options Exercisable

 

Exercise
Price

 

Outstanding
Number of
Options

 

Weighted
Average
Remaining
Life In
Years

 

Exercisable
Number
of Options

 

$5.79 - 6.00

 
369,000 

 
9.41 

 
139,250 

 

6.49 – 6.97

 
47,500 

 
9.69 

 
2,813 

 

7.20 – 8.06

 
74,700 

 
8.40 

 
832 

 

 

 
491,200 

 
9.41 

 
142,895 

 

 

 

Summary of restricted stock unit activity

 

 

Number of
Restricted Share
Units

 

Weighted-Average
Grant-Date Fair
Value

 

Outstanding at January 1, 2014

 

—

 

$

—

 

Granted

 
174,500

 
6.00

 

Vested

 
(43,233

)
6.00

 

Cancelled

 

—

 

—

 

Outstanding at December 31, 2014

 
131,267

 

$
6.00

 

 

 

Schedule of stock-based compensation

 

 

For the year ended
December 31, 2014

 

Research and development

 

 

 

Employees

 

$
320,114 

 

Non-employees

 
71,528 

 

General and administrative

 

 

 

Employees and directors

 
413,733 

 

Non-employees

 
224,399 

 

 

 

$
1,029,774