Stock-Based Compensation |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation |
10. Stock-Based Compensation
Equity Incentive Plans – The Company’s 2013 Equity Compensation Plan (the “2013 Plan”) was adopted for the purpose of providing equity incentives to employees, officers, directors and consultants including options, restricted stock, restricted stock units, stock appreciation rights, other equity awards, annual incentive awards and dividend equivalents. The Company amended the 2013 Plan to increase the number of authorized shares of common stock under the 2013 Plan by 390,000 shares, which the Company’s stockholders approved on June 26, 2017. The Company is now authorized to issue 615,000 shares under the amended 2013 Plan.
Stock Options
The following table summarizes the Company’s stock option activity for the three months ended March 31, 2018:
The Company recorded non-cash compensation expense of approximately $88,000 and $488,000 as a component of general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2018 and 2017, respectively, pertaining to stock options.
Total unrecognized compensation expense related to unvested stock options at March 31, 2018 amounts to approximately $324,000 and is expected to be recognized over a remaining weighted average period of 1.0 year.
Warrants
As of March 31, 2018, there were 170,314 warrants outstanding and exercisable, with a weighted average exercise price of $32.44 per share. The weighted average remaining contractual life of the warrants at March 31, 2018 and December 31, 2017 was 3.1 and 3.3 years, respectively, and the aggregate intrinsic value was $0.
The Company did not grant any warrants to purchase shares of common stock during the three months ended March 31, 2018.
No compensation cost was recognized for the three months ended March 31, 2018 and 2017 pertaining to warrants.
Restricted Stock
As of March 31, 2018 and December 31, 2017, there were 15,544 shares of unvested restricted stock outstanding.
The Company recorded non-cash compensation expense of approximately $30,000 and $28,000 for the three months ended March 31, 2018 and 2017, respectively, pertaining to restricted stock.
Total unrecognized compensation expense related to unvested restricted stock at March 31, 2018 amounts to approximately $30,000 and is expected to be recognized over a weighted average period of 0.24 years. |
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