Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED BENEFIT PLANS

v3.4.0.3
SHARE-BASED BENEFIT PLANS
3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE-BASED BENEFIT PLANS
SHARE-BASED BENEFIT PLANS
 
2015 Equity Incentive Plan. As of March 31, 2016, we had 987,285 share-based awards available for grant from the 2015 Equity Incentive Plan (the “2015 Plan”).

The following table summarizes information related to our common stock options as of March 31, 2016:
 
Number
of Stock
Options
 
Weighted
Average
Exercise Price
Options outstanding at January 1, 2016
1,563,834

 
$
1.33

Granted

 
n/a

Exercised

 
n/a

Canceled/Forfeited

 
n/a

Options outstanding at March 31, 2016
1,563,834

 
$
1.33

Options exercisable at March 31, 2016
379,324

 
$
1.28



Compensation Costs. Stock-based compensation expense totaled $57,000 and $37,000 for the three months ended March 31, 2016 and 2015, respectively.

As of March 31, 2016, there was approximately $0.6 million of unrecognized compensation cost related to unvested stock options granted by the Company. This unrecognized compensation cost is expected to be recognized over a weighted average period of 2.6 years.

The aggregate intrinsic value of options outstanding was $0.2 million at March 31, 2016. The aggregate intrinsic value represents the total pre-tax intrinsic value that would have been realized by the option holders had all option holders exercised their options on the applicable date. The intrinsic value of a stock option is the excess of our closing stock price on that date over the exercise price, multiplied by the number of in-the-money options.