Stock Option Plans (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Weighted-average Assumptions to Estimate the Fair Value of the Options Granted |
We used the following weighted-average
assumptions to estimate the fair value of the options granted for the years indicated:
| |
|
For the years ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
|
2017 |
|
| Expected volatility |
|
|
108 |
% |
|
|
109 |
% |
|
|
111 |
% |
| Expected term |
|
|
5.1 years |
|
|
|
5 years |
|
|
|
5 years |
|
| Risk-free interest rate |
|
|
2.21 |
% |
|
|
2.62 |
% |
|
|
1.81 |
% |
| Expected dividend yield |
|
|
0.00 |
% |
|
|
0.00 |
% |
|
|
0.00 |
% |
|
| 2015 Equity Incentive Plan [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Options Activity |
Summarized information for the 2015
Equity Incentive Plan is as follows:
| |
|
Options |
|
|
Weighted-
average
exercise
price |
|
| Outstanding options at January 1, 2017 |
|
|
4,443,000 |
|
|
$ |
4.94 |
|
| Granted, fair value of $11.35 per share |
|
|
1,077,000 |
|
|
|
14.31 |
|
| Exercised |
|
|
(81,719 |
) |
|
|
4.22 |
|
| Expired/forfeited |
|
|
(325,314 |
) |
|
|
5.52 |
|
| Outstanding options at December 31, 2017 |
|
|
5,112,967 |
|
|
$ |
9.07 |
|
| |
|
|
|
|
|
|
|
|
| Granted, fair value of $10.23 per share |
|
|
1,497,300 |
|
|
$ |
12.95 |
|
| Exercised |
|
|
(360,853 |
) |
|
|
6.22 |
|
| Expired/forfeited |
|
|
(724,009 |
) |
|
|
10.65 |
|
| Outstanding options at December 31, 2018 |
|
|
5,525,405 |
|
|
$ |
8.08 |
|
| |
|
|
|
|
|
|
|
|
| Granted, fair value of $5.14 per share |
|
|
1,490,490 |
|
|
$ |
6.53 |
|
| Exercised |
|
|
(303,129 |
) |
|
|
3.20 |
|
| Expired/forfeited |
|
|
(917,371 |
) |
|
|
7.95 |
|
| Outstanding options at December 31, 2019 |
|
|
5,795,395 |
|
|
$ |
7.96 |
|
| |
|
|
|
|
|
|
|
|
| Non-vested options at December 31, 2017 |
|
|
2,641,832 |
|
|
$ |
8.21 |
|
| Non-vested options at December 31, 2018 |
|
|
2,355,719 |
|
|
$ |
10.41 |
|
| Non-vested options at December 31, 2019 |
|
|
2,342,706 |
|
|
$ |
8.78 |
|
|
| Schedule of Options Outstanding and Exercisable |
Further information regarding options
outstanding under the 2015 Equity Incentive Plan at December 31, 2019 is summarized below:
| |
|
|
|
|
|
|
|
|
Weighted-average |
|
|
|
|
|
Weighted-average |
|
| Range of exercise prices |
|
|
Number of options outstanding |
|
|
Remaining life in years |
|
|
Exercise price |
|
|
Number of options exercisable |
|
|
Remaining life in years |
|
|
Exercise price |
|
| $ |
2.26 |
|
|
$ |
5.44 |
|
|
|
1,989,150 |
|
|
|
7.0 |
|
|
$ |
3.66 |
|
|
|
1,462,346 |
|
|
|
6.5 |
|
|
$ |
3.46 |
|
| |
5.90 |
|
|
|
9.23 |
|
|
|
2,425,240 |
|
|
|
7.6 |
|
|
|
7.35 |
|
|
|
1,253,189 |
|
|
|
6.2 |
|
|
|
7.32 |
|
| |
11.43 |
|
|
|
14.45 |
|
|
|
456,619 |
|
|
|
8.5 |
|
|
|
13.49 |
|
|
|
204,025 |
|
|
|
8.4 |
|
|
|
13.56 |
|
| |
15.25 |
|
|
|
17.30 |
|
|
|
924,386 |
|
|
|
8.0 |
|
|
|
16.09 |
|
|
|
533,129 |
|
|
|
8.0 |
|
|
|
16.07 |
|
| |
|
|
|
|
|
|
|
|
5,795,395 |
|
|
|
|
|
|
|
|
|
|
|
3,452,689 |
|
|
|
|
|
|
|
|
|
|
| 2005 Equity Incentive Plan [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Options Activity |
Summarized information for the 2005
Equity Incentive Plan is as follows:
| |
|
Options |
|
|
Weighted-
average
exercise
price |
|
| Outstanding options at January 1, 2017 |
|
|
328,560 |
|
|
$ |
14.57 |
|
| Expired/forfeited |
|
|
(11,800 |
) |
|
|
21.53 |
|
| Outstanding options at December 31, 2017 |
|
|
316,760 |
|
|
$ |
14.31 |
|
| |
|
|
|
|
|
|
|
|
| Expired/forfeited |
|
|
(360 |
) |
|
|
150.00 |
|
| Outstanding options at December 31, 2018 |
|
|
316,400 |
|
|
$ |
14.15 |
|
| |
|
|
|
|
|
|
|
|
| Expired/forfeited |
|
|
(56,400 |
) |
|
|
19.75 |
|
| Outstanding options at December 31, 2019 |
|
|
260,000 |
|
|
$ |
12.94 |
|
|
| Schedule of Options Outstanding and Exercisable |
Further information regarding options
outstanding under the 2005 Equity Incentive Plan at December 31, 2019 is summarized below:
| |
|
|
|
|
|
|
|
|
Weighted-average |
|
|
|
|
|
Weighted-average |
|
| Range of exercise prices |
|
|
Number of options outstanding |
|
|
Remaining life in years |
|
|
Exercise price |
|
|
Number of options exercisable |
|
|
Remaining life in years |
|
|
Exercise price |
|
| $ |
3.25 |
|
|
$ |
3.25 |
|
|
|
120,000 |
|
|
|
0.1 |
|
|
$ |
3.25 |
|
|
|
120,000 |
|
|
|
0.1 |
|
|
$ |
3.25 |
|
| |
11.50 |
|
|
|
30.50 |
|
|
|
136,100 |
|
|
|
4.1 |
|
|
|
18.48 |
|
|
|
136,100 |
|
|
|
4.1 |
|
|
|
18.48 |
|
| |
113.50 |
|
|
|
122.50 |
|
|
|
3,900 |
|
|
|
0.9 |
|
|
|
117.65 |
|
|
|
3,900 |
|
|
|
0.9 |
|
|
|
117.65 |
|
| |
|
|
|
|
|
|
|
|
260,000 |
|
|
|
|
|
|
|
|
|
|
|
260,000 |
|
|
|
|
|
|
|
|
|
|