Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.7.0.1
Stock-Based Compensation
6 Months Ended
Jun. 30, 2017
Stock-Based Compensation [Abstract]  
STOCK-BASED COMPENSATION

12. STOCK-BASED COMPENSATION

 

Restricted Stock

 

The following table summarizes the Company’s restricted stock activity during the six months ended June 30, 2017:

 

          Weighted Average  
    Number of     Grant Date  
    Shares     Fair Value  
Outstanding at January 1, 2017     722,097     $ 6.56  
Granted     1,300,000       0.07  
Vested     (229,542 )     2.37  
Forfeited/Cancelled     (81,980 )     3.70  
Outstanding at March 31, 2017     1,710,575     $ 2.33  
                 
Vested     (371,928 )     15.73  
Forfeited/Cancelled     (10,384 )     8.90  
Outstanding at June 30, 2017     1,328,263     $ (1.47 )

 

For the three months ended June 30, 2017 and 2016, the Company did not incur stock compensation expense from the issuance of common stock to employees and consultants. For the six months ended June 30, 2017 and 2016, the Company incurred $13 and $71, respectively, in stock compensation expense from the issuance of common stock to employees and consultants.

 

The Company recorded an additional $490 and $632 in stock compensation expense on shares subject to vesting terms in previous periods during the three months ended June 30, 2017 and 2016, respectively. The Company recorded an additional $977 and $1,309 in stock compensation expense on shares subject to vesting terms in previous periods during the six months ended June 30, 2017 and 2016, respectively.

 

Options

 

There were no options granted during the six months ended June 30, 2017 or 2016.

 

The following table summarizes the Company’s stock option activity and related information for the six months ended June 30, 2017:

 

          Weighted Average        
                Remaining     Aggregate  
    Shares Underlying     Exercise     Contractual Term     Intrinsic
Value
 
    Options     Price     (in years)     (in thousands)  
Outstanding at January 1, 2017     43,750     $ 14.88       5.29     $ 646  
Granted     -       -       -       -  
Forfeited and expired     (2,083 )     14.88       -       -  
Exercised     -       -       -       -  
Outstanding at June 30, 2017     41,667     $ 14.88       4.80     $ -  
Exercisable at June 30, 2017     41,667     $ 14.88       4.80     $ -  

 

The aggregate intrinsic value for outstanding options is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock as of June 30, 2017 and December 31, 2016 of $0.12 and $0.12, respectively.