Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased 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:

 

 

 

Six months ended June 30,

 

 

 

2019

 

 

2018

 

Estimated fair values of stock options granted

 

$

10.61

 

 

$

10.26

 

Assumptions:

 

 

 

 

 

 

 

 

Risk-free interest rate

 

1.9% - 2.5%

 

 

2.5% - 2.8%

 

Expected volatility

 

77.9% - 78.9%

 

 

40.9% - 54.7%

 

Expected term (in years)

 

6.8 – 10.0 years

 

 

6.3 – 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

 

 

 

 

 

 

 

 

 

 

1,490,000

 

 

 

14.75

 

Exercised

 

 

 

 

 

 

 

 

 

 

(85,452

)

 

 

3.61

 

Forfeited or expired

 

 

 

 

 

 

 

 

 

 

(12,085

)

 

 

17.72

 

Other activity

 

 

 

 

 

 

 

 

 

 

12,495

 

 

 

13.29

 

Balance as of June 30, 2019

 

 

1,585,276

 

 

$

8.34

 

 

 

4,606,845

 

 

$

12.11

 

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 June 30,

 

 

Six months ended June 30,

 

In Thousands

2019

 

 

2018

 

 

2019

 

 

2018

 

Net cash proceeds

$

183

 

 

$

527

 

 

$

308

 

 

$

1,241

 

Intrinsic value of options exercised

$

527

 

 

$

1,899

 

 

$

880

 

 

$

5,159

 

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

 

Granted

 

 

100,000

 

 

 

12.48

 

Vested

 

 

(168,718

)

 

 

8.36

 

Forfeited

 

 

(2,000

)

 

 

8.00

 

Unvested balance at June 30, 2019

 

 

980,696

 

 

$

10.62