Stock Option Plans
|6 Months Ended|
Jun. 30, 2016
|Disclosure of Compensation Related Costs, Share-based Payments [Abstract]|
|Stock Option Plans||
Note 10 Stock Option Plans
A summary of stock option activity for the six months ended June 30, 2016 is as follows:
The weighted average remaining contractual term for all options as of June 30, 2016 and December 31, 2015 was 7.1 years and 7.6 years respectively.
As of June 30, 2016, there were 518,054 options that were fully vested and exercisable at a weighted average exercise price of $5.02 per share. The weighted average remaining contractual term on the vested options is 7.2 years.
As of June 30, 2016 there were 480,712 unvested options exercisable at a weighted average exercise price of $4.07 per share. The weighted average remaining contractual term on the unvested options is 7.1 years.
No options were exercised during the six months ended June 30, 2016 and 2015.
The weighted average fair value of option grants was calculated using the Black-Scholes-Merton option pricing method. At June 30, 2016, the Company had approximately $1,874,254 of unrecognized stock compensation expense, which will be recognized over a weighted average period of approximately 1.8 years.
The following summary table shows the assumptions used to the fair value of options granted during the six-month period ended June 30, 2016 and their estimated value:
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef