Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Fair Values of Stock Options Granted and Assumptions used in Black-Scholes Model

The estimated fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows:

 

     Three months ended March 31,  
     2019      2018  

 

 

Estimated fair values of stock options granted

   $ 9.45         $ 10.39  

Assumptions:

     

Risk-free interest rate

     2.5%        2.5% - 2.7%  

Expected volatility

     78.9%        40.9% - 53.7%  

Expected term (in years)

         6.9 years        6.5 – 9.2 years  

 

 
Summary of Stock Option Activity

Information on stock option activity follows:

 

    

Options

Exercisable

    

Weighted-

Average

Exercise

Price Per

Share

    

Options

Outstanding

   

Weighted-

Average

Exercise

Price Per

Share

 

 

 

Balance as of December 31, 2018

     1,278,038      $ 7.45        3,201,887       $    10.67  

Granted

           180,000       13.01  

Exercised

           (34,402     3.63  

Forfeited or expired

           (2,205     13.29  

 

 

Balance as of March 31, 2019

     1,340,631      $ 7.59        3,345,280       $    10.87  

 

 
Schedule of Net Cash Proceeds from Exercise of Stock Options Less Shares Used for Minimum Withholding Taxes and Intrinsic Value of Options Exercised

Net cash proceeds from the exercise of stock options less shares used for minimum withholding taxes and the intrinsic value of options exercised were as follows:

 

     Three months ended March 31,  
In Thousands    2019      2018  

 

 

Net cash proceeds

   $ 125      $ 714  

 

 

Intrinsic value of options exercised

   $ 353      $ 3,260  

 

 
Summary of Activity of Restricted Stock Units

Information on restricted stock unit activity follows:

 

    

Number of

Restricted Stock

Units Outstanding

   

Weighted-Average

Grant Date Fair

Value

 

 

 

Unvested balance at December 31, 2018

     1,051,414     $ 10.15  

Vested

     (8,894     14.91  

Unvested balance at March 31, 2019

     1,042,520     $ 9.64