Annual report pursuant to Section 13 and 15(d)

Employee Stock Options (Tables)

v3.6.0.2
Employee Stock Options (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
A summary of the option activity as of December 31, 2016 and changes during the fiscal year then ended is presented below:
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
Weighted
 
 
Average
 
 
 
 
 
 
 
 
 
Average
 
 
Remaining
 
 
Aggregate
 
 
 
Options
 
 
Exercise
 
 
Contractual
 
 
Intrinsic
 
 
 
Outstanding
 
 
Price
 
 
Life (Years)
 
 
Value
 
Outstanding as of December 31, 2015
 
 
1,963
 
 
$
7.09
 
 
 
 
 
 
 
 
 
Granted
 
 
813
 
 
$
5.40
 
 
 
 
 
 
 
 
 
Exercised
 
 
(44)
 
 
$
2.51
 
 
 
 
 
 
 
 
 
Forfeited
 
 
(224)
 
 
$
8.06
 
 
 
 
 
 
 
 
 
Expired
 
 
(31)
 
 
$
9.39
 
 
 
 
 
 
 
 
 
Outstanding as of December 31, 2016
 
 
2,477
 
 
$
6.50
 
 
 
7.46
 
 
$
674
 
Vested and expected to vest at December 31, 2016
 
 
2,321
 
 
$
6.49
 
 
 
7.34
 
 
$
672
 
Exercisable as of December 31, 2016
 
 
1,262
 
 
$
5.97
 
 
 
6.01
 
 
$
659
 
Schedule of Shares available for future grant
Shares available for future grant under the 2014 Plan is as follows for the year ended December 31, 2016:
 
 
 
Shares
 
 
 
Available For
 
 
 
Grant
 
Available as of December 31, 2015
 
 
1,506
 
Granted
 
 
(813)
 
Forfeited
 
 
224
 
Expired
 
 
31
 
Available as of December 31, 2016
 
 
948
 
Summary of information about stock options outstanding
The following table summarizes information about stock options outstanding as of December 31, 2016:
 
 
 
Options Outstanding
 
 
Options Exercisable
 
 
 
 
 
 
Weighted-Average
 
 
Weighted
 
 
 
 
 
Weighted
 
Range of
 
 
 
 
Remaining
 
 
Average
 
 
 
 
 
Average
 
Exercise
 
Number of
 
 
Contractual Life
 
 
Exercise
 
 
Number of
 
 
Exercise
 
Prices
 
Shares
 
 
(Years)
 
 
Price
 
 
Shares
 
 
Price
 
$0.28 - $0.49
 
 
106
 
 
 
1.89
 
 
$
0.36
 
 
 
106
 
 
$
0.36
 
$2.73 - $4.00
 
 
762
 
 
 
6.90
 
 
$
3.61
 
 
 
465
 
 
$
3.39
 
$4.67 - $7.42
 
 
876
 
 
 
8.03
 
 
$
6.55
 
 
 
387
 
 
$
6.81
 
$8.96 - $15.33
 
 
733
 
 
 
8.14
 
 
$
10.33
 
 
 
304
 
 
$
10.80
 
 
 
 
2,477
 
 
 
7.45
 
 
$
6.50
 
 
 
1,262
 
 
$
5.97
 
Allocation of Stock Option Compensation Expense
Stock-based compensation is included in the consolidated statements of operations and comprehensive loss in general and administrative, research and development or sales and marketing expenses, depending upon the nature of services provided. Stock-based compensation expense recorded to operations for stock options for both employees and non-employees was as follows:
 
 
 
Years Ended December 31,
 
 
 
2016
 
 
2015
 
 
2014
 
Sales and marketing
 
$
677
 
 
$
579
 
 
$
345
 
Research and development
 
 
632
 
 
 
414
 
 
 
180
 
General and administrative
 
 
1,812
 
 
 
738
 
 
 
618
 
 
 
$
3,121
 
 
$
1,731
 
 
$
1,143
 
Schedule of Fair Value Calculation Assumptions
The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option pricing model under the following assumptions:
 
 
 
Years Ended December 31,
 
 
 
2016
 
 
2015
 
 
2014
 
Dividend yield
 
—
 
 
—
 
 
—
 
Risk-free interest rate
 
1.24% - 2.37
%
 
1.41% - 2.50
%
 
0.97% - 2.61
%
Expected term (in years)
 
5.27-10
 
 
5.52-10
 
 
3-10
 
Volatility
 
77%-83
%
 
73%-76
%
 
66%-75
%