Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.20.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
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 year ended December 31, 2019:

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life In

Years

 

 

Intrinsic

Value

 

Outstanding at January 1, 2019

 

 

656,494

 

 

$

5.57

 

 

 

4.6

 

 

$

252,887

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(80,201

)

 

 

4.99

 

 

 

 

 

 

 

Forfeited

 

 

(25,308

)

 

 

5.33

 

 

 

 

 

 

 

Outstanding at December 31, 2019

 

 

550,985

 

 

$

5.67

 

 

 

4.3

 

 

$

2,538

 

Exercisable at December 31, 2019

 

 

550,985

 

 

$

5.67

 

 

 

4.3

 

 

$

2,538

 

Schedule of Restricted Stock Units Activity A summary of the activity related to RSUs for the year ended December 31, 2019 is presented below:

 

 

 

Total

 

 

Weighted

Average Grant

Date Fair Value

 

Outstanding at January 1, 2019

 

 

2,469,174

 

 

$

15.07

 

RSUs granted

 

 

1,120,401

 

 

$

4.10

 

RSUs forfeited

 

 

(656,906

)

 

$

14.23

 

RSUs vested

 

 

(1,110,817

)

 

$

12.73

 

Outstanding at December 31, 2019

 

 

1,821,852

 

 

$

10.05

 

 

Summary of Activity Related to PSUs A summary of the activity related to PSUs for the year ended December 31, 2019 is presented below:

 

 

 

Total

 

 

Weighted

Average Grant

Date Fair Value

 

Outstanding at January 1, 2019

 

 

 

 

$

 

PSUs granted

 

 

434,000

 

 

$

2.09

 

PSUs forfeited

 

 

(6,000

)

 

$

2.09

 

PSUs vested

 

 

 

 

$

 

Outstanding at December 31, 2019

 

 

428,000

 

 

$

2.09

 

 

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

 

 

For the Year Ended

December 31, 2019

Stock price range

$

4.27 – 5.79

 

Dividend yield

 

0

%

Expected volatility range

 

83 – 96

%

Risk-free interest rate range

 

2.10 – 2.51

%

Expected life

 

6 months

 

 

 

 

 

 

For the Year Ended

December 31, 2018

Stock price range

$

14.48 – 22.34

 

Dividend yield

 

0

%

Expected volatility range

 

72 – 177

%

Risk-free interest rate range

 

1.61 – 2.14

%

Expected life

 

6 months

 

 

 

 

 

 

Summary of Stock-based Compensation Costs Recognized

The following tables summarize total stock-based compensation costs recognized for years ended December 31, 2019 and 2018:

 

 

 

For the Years Ended December 31,

 

 

 

2019

 

 

2018

 

RSUs

 

$

10,190,211

 

 

$

15,359,011

 

PSUs

 

 

88,348

 

 

 

819,816

 

ESPP

 

 

368,021

 

 

 

574,927

 

Total

 

$

10,646,580

 

 

$

16,753,754

 

 

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:

 

 

 

For the Years Ended December 31,

 

 

 

2019

 

 

2018

 

Research and development

 

$

5,419,627

 

 

$

9,676,156

 

Sales and marketing

 

 

1,561,319

 

 

 

1,416,136

 

General and administrative

 

 

3,665,634

 

 

 

5,661,462

 

Total

 

$

10,646,580

 

 

$

16,753,754