Stock-Based Compensation |
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| Stock-Based Compensation |
12. Stock-Based Compensation The 2003 Plan The following table presents a summary of activity for the three months ended March 31, 2018:
During the three ended March 31, 2018, no options were issued. We issue new shares upon the exercise of options. Options outstanding at March 31, 2018 had no intrinsic value. At March 31, 2018, unrecognized compensation expense related to options was less than $0.1 million, which is expected to be recognized over a weighted-average period of less than one year.
The 2013 Plan Under our 2013 Stock Incentive Plan, as amended (the “2013 Plan”), an aggregate of 1,600,000 shares of our common stock may be issued to officers, employees, non-employee directors and consultants of Revolution and its affiliates. On May 1, 2018, our shareholders will vote on a fifth amendment to the 2013 Plan to increase the number of shares that may be issued under the Plan to 2,600,000. Restricted Shares The following table presents a summary of activity for the three months ended March 31, 2018:
At March 31, 2018, there was $0.4 million of unrecognized compensation expense related to nonvested restricted shares, which is expected to be recognized over a weighted-average period of 1.9 years. The total fair value of restricted shares that vested during the three months ended 2017 was $0.2 million. Restricted Share Units During the three months ended March 31, 2018, we granted restricted share units to employees which vest ratably over a three-year period. These awards are classified as equity awards, and are accounted for using the fair value established at the grant date. The following table presents a summary of activity for the three months ended March 31, 2018:
At March 31, 2018, there was $2.2 million of unrecognized compensation expense related to nonvested restricted share units, which is expected to be recognized over a weighted-average period of 1.8 years. The total fair value of restricted shares that vested was less than $0.1 million for each of the three months ended March 31, 2018 and 2017. |
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