Annual report pursuant to Section 13 and 15(d)

Stock Plans (Tables)

v3.21.1
Stock Plans (Tables)
12 Months Ended
Dec. 31, 2020
Stock Plans  
Schedule of option activity

The following table summarizes option activity for the year ended December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Weighted

    

Weighted

    

 

 

 

 

 

 

Average

 

Average

 

Aggregate

 

 

 

 

Exercise

 

Remaining

 

Intrinsic

 

 

Shares

 

Price per

 

Contractual

 

Value

 

 

(in thousands)

 

Share

 

Term (years)

 

(in thousands)

Outstanding at January 1, 2020

 

40

 

$

187.09

 

7.85

 

$

 —

Granted

 

 2

 

 

7.95

 

  

 

 

  

Cancelled/expired

 

(14)

 

 

49.76

 

  

 

 

  

Outstanding at December 31, 2020

 

28

 

$

242.70

 

6.35

 

$

 —

Exercisable at December 31, 2020

 

27

 

$

247.27

 

6.29

 

$

 —

 

Schedule of assumptions to estimate the fair value of options

We use the Black-Scholes-Merton option-pricing model with the following assumptions to estimate the stock-based compensation expense:

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

    

2020

    

2019

    

Weighted-average risk-free interest rate

 

0.4

%  

2.21

%  

Expected dividend payments

 

 

 —

 

Expected holding period (years)(1)

 

5.79

 

5.41

 

Weighted-average volatility factor(2)

 

1.04

 

0.94

 

Estimated forfeiture rates for options granted

 

27

%  

21

%  


(1)

Expected holding period is based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and the expectations of future employee behavior.

(2)

Weighted average volatility is based on the historical volatility of our common stock.

(3)Estimated forfeiture rates are based on historical data.

Schedule of the stock-based compensation expense

The following table summarizes the stock-based compensation expense (in thousands):

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

2020

 

2019

Research and development

    

$

 —

    

$

91

General and administrative

 

 

 7

 

 

481

Total stock-based compensation expenses

 

$

 7

 

$

572