Stock Based Option Compensation and Restricted Stock Compensation |
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Sep. 30, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Based Option Compensation and Restricted Stock Compensation |
For the three and nine months ended September 30, 2018, we recognized stock-based option compensation expense of $2,499,000 and $7,072,000, respectively. For the three and nine months ended September 30, 2017, we recognized stock-based option compensation expense of $792,000 and $3,527,000, respectively. The following table summarizes stock-based option compensation for the three and nine months ended September 30, 2018 and 2017:
For the three and nine months ended September 30, 2018, we granted 157,000 and 1,026,800 stock options, respectively, and for the three and nine months ended September 30, 2017, we granted 0 and 185,000 stock options, respectively. For the three months ended September 30, 2018, the fair value of options was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions: dividend yield of 0%; volatility of 109%; risk-free interest rate of 2.78%; and expected lives of 5.0 years. The weighted average fair value of options granted was $11.44 per share. The weighted average grant date fair value is $11.44 and the weighted average exercise price is $14.45. For the nine months ended September 30, 2018, the fair value of options was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions: dividend yield of 0%; volatility of 109%; risk-free interest rate of 2.54%; and expected lives of 5.0 years. The weighted average fair value of options granted was $11.36 per share. The weighted average grant date fair value is $11.36 and the weighted average exercise price is $14.38. For the three and nine months ended September 30, 2018, we recognized restricted common stock compensation expense of $172,000 and $516,000, respectively. For the three and nine months ended September 30, 2017, we recognized restricted stock compensation expense of $293,000 and $979,000, respectively. The following table summarizes restricted common stock compensation expense for the three and nine months ended September 30, 2018 and 2017:
We did not grant any common stock to directors or employees during the three and nine months ended September 30, 2018 and September 30, 2017. |
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