Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.20.1
Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following is a summary of the Company’s stock option activity during the three months ended March 31, 2020:

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life In

Years

 

 

Intrinsic

Value

 

Outstanding at January 1, 2020

 

 

550,985

 

 

$

5.67

 

 

 

4.3

 

 

$

2,538

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at March 31, 2020

 

 

550,985

 

 

$

5.67

 

 

 

4.3

 

 

$

 

Exercisable at January 1, 2020

 

 

550,985

 

 

$

5.67

 

 

 

4.3

 

 

$

2,538

 

Vested

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at March 31, 2020

 

 

550,985

 

 

$

5.67

 

 

 

4.3

 

 

$

 

Schedule of Restricted Stock Units Activity A summary of the activity related to RSUs for the three months ended March 31, 2020 is presented below:

 

 

 

Total

 

 

 

Weighted

Average

Grant

Date Fair

Value

 

Outstanding at January 1, 2020

 

 

1,821,852

 

 

 

$

10.05

 

RSUs granted

 

 

665,031

 

 

 

$

1.27

 

RSUs forfeited

 

 

(41,784

)

 

 

$

2.09

 

RSUs vested

 

 

(396,559

)

 

 

$

11.62

 

Outstanding at March 31, 2020

 

 

2,048,540

 

 

 

$

6.93

 

 

Summary of Activity Related to PSUs

A summary of the activity related to PSUs for the three months ended March 31, 2020 is presented below:

 

 

 

Total

 

 

Weighted

Average Grant

Date Fair Value

 

Outstanding at January 1, 2020

 

 

428,000

 

 

$

2.09

 

PSUs granted

 

 

267,677

 

 

 

1.27

 

PSUs forfeited

 

 

(28,000

)

 

 

6.38

 

PSUs vested

 

 

 

 

 

 

Outstanding at March 31, 2020

 

 

667,677

 

 

 

1.76

 

Summary of Fair Values of Stock Options Granted The fair values of stock options granted were estimated using the following assumptions:

 

 

 

Three Months Ended

March 31, 2020

 

 

Three Months Ended

March 31, 2019

 

Stock price

 

$

1.77

 

 

$

5.79

 

Dividend yield

 

 

0

%

 

 

0

%

Expected volatility

 

 

61

%

 

 

96

%

Risk-free interest rate

 

 

1.57

%

 

 

2.51

%

Expected life

 

6 months

 

 

6 months

 

 

 

Summary of Stock-based Compensation Costs Recognized

The following tables summarize total stock-based compensation costs recognized for the three months ended March 31, 2020 and 2019:

 

 

 

Three Months Ended March 31,

 

 

 

 

 

2020

 

 

2019

 

 

 

RSUs

 

 

2,321,820

 

 

$

3,083,567

 

 

 

PSUs

 

 

(88,348

)

 

 

 

 

 

ESPP

 

 

42,827

 

 

 

87,825

 

 

 

Total

 

$

2,276,299

 

 

$

3,171,392

 

 

 

Summary of Stock-based Compensation Reflected within Statements of Operations

The total amount of stock-based compensation was reflected within the statements of operations as:

 

 

 

Three Months Ended March 31,

 

 

 

 

 

2020

 

 

2019

 

 

 

Research and development

 

$

1,100,978

 

 

$

1,656,553

 

 

 

Sales and marketing

 

 

364,458

 

 

 

377,048

 

 

 

General and administrative

 

 

810,863

 

 

 

1,137,791

 

 

 

Total

 

$

2,276,299

 

 

$

3,171,392