Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.7.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of share-based payment arrangements
The Company recognized the following amounts related to the Company’s share-based payment arrangements (in thousands):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Stock-based compensation cost charged against loss, before income tax benefit
 
 
 
 
 
Stock options
$
554

 
$
686

 
$
812

Restricted stock and restricted stock units
867

 
1,148

 
1,029

Total expense included in continuing operations
$
1,421

 
$
1,834

 
$
1,841

Stock-based compensation cost included in:
 
 
 
 
 
Cost of revenues
$
49

 
$
159

 
$
55

Operating expenses
1,372

 
1,675

 
1,786

Total expense included in continuing operations
$
1,421

 
$
1,834

 
$
1,841

Schedule of assumptions used to determine the fair value of stock options awards granted
The fair value of each option award is estimated at the date of grant using the Black-Scholes option pricing model. The assumptions used to determine the fair value of stock option awards granted were as follows:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Expected life of options in years
4.75
 
4.75
 
4.75
Risk-free interest rate
1.1% - 1.4%
 
1.3% - 1.6%
 
1.4% - 1.6%
Expected volatility
57.4% - 63.7%
 
34.5% - 53.2%
 
33.1% - 34.5%
Expected dividend yield
—%
 
—%
 
—%
Schedule of share-based compensation pertaining to stock options
A summary of share option activity is presented in the table below (in thousands, except per share data):
 
Shares
 
Weighted Average Exercise Price
 
Weighted
Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic Value(1)
Options outstanding at December 31, 2013
1,748

 
$
12.95

 
 
 
 

Granted
133

 
14.58

 
 
 
 

Exercised
(86
)
 
12.28

 
 
 
 

Canceled
(160
)
 
15.75

 
 
 
 

Options outstanding at December 31, 2014
1,635

 
12.84

 
 
 
 
Granted
617

 
4.73

 
 
 
 
Exercised
(20
)
 
7.27

 
 
 
 
Canceled
(419
)
 
13.45

 
 
 
 
Options outstanding at December 31, 2015
1,813

 
10.00

 
 
 
 
Granted
374

 
2.86

 
 
 
 

Exercised

 

 
 
 
 

Canceled
(679
)
 
12.66

 
 
 
 

Options outstanding at December 31, 2016
1,508

 
7.03

 
4.7
 
$

Total vested and expected to vest as of December 31, 2016
1,501

 
7.05

 
4.7
 

Options exercisable as of:
 
 
 
 
 
 
 
December 31, 2014
1,003

 
$
14.15

 
 
 
 
December 31, 2015
969

 
13.09

 
 
 
 
December 31, 2016
703

 
10.06

 
3.1
 
$

________________________________________________________________
(1) 
Aggregate intrinsic value includes only those options with intrinsic value (options where the exercise price is below the market value).
Schedule of other share-based compensation, activity
Other information pertaining to options is as follows (in thousands, except per share data):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Fair value of options granted
$
556

 
$
1,119

 
$
612

Per share weighted average fair value of options granted
$
1.49

 
$
1.81

 
$
4.60

Total intrinsic value of stock options exercised
$

 
$
131

 
$
242

Nonvested restricted stock shares activity
A summary of restricted stock and restricted stock units activity is presented in the table below (in thousands, except per share data):
 
Number of Shares
 
Weighted Average
Grant-Date Fair Value
Nonvested at December 31, 2013
118

 
$
10.94

Granted
184

 
14.92

Vested
(76
)
 
10.35

Canceled
(12
)
 
10.63

Nonvested at December 31, 2014
214

 
14.59

Granted
129

 
9.96

Vested
(92
)
 
14.52

Canceled
(76
)
 
12.64

Nonvested at December 31, 2015
175

 
12.05

Granted
120

 
4.00

Vested
(76
)
 
11.27

Canceled
(29
)
 
13.03

Nonvested at December 31, 2016
190

 
$
7.13

Schedule of share-based compensation pertaining to restricted stock and restricted stock units
Other information pertaining to restricted stock and restricted stock units is as follows (in thousands, except per share data):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Per share weighted average grant-date fair value of restricted stock and restricted stock units granted
$
4.00

 
$
9.96

 
$
14.92

Total fair value of restricted stock and restricted stock units vested
$
294

 
$
667

 
$
1,076