Stockholder's Equity | Stockholder's Equity (a) Stock Equity and Incentive Plan The Company recognizes stock-based compensation in accordance with the provisions of ASC Topic 718, Compensation-Stock Compensation . Stock-based compensation expense, excluding compensation charges related to our employee stock purchase plan, or the ESPP, was $742 and $1,017 for the three months ended June 30, 2020 and 2019, respectively, and $1,531 and $1,877 for the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020, there was $2,412 of total unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 2.26 years. As of June 30, 2020, there was $2,598 of total unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted-average period of 2.08 years. Stock Options During the three months ended June 30, 2020, 6 stock options were exercised for common stock. Additionally, during the three months ended June 30, 2020, no stock options were granted and 11 stock options expired, were canceled or were forfeited. During the six months ended June 30, 2020, 6 stock options were exercised for common stock, $51 of which was delivered to the Company as payment for the exercise price and none of which were surrendered for minimum tax withholding obligations. Additionally, during the six months ended June 30, 2020, no stock options were granted and 106 stock options expired, were canceled or were forfeited. The Company has estimated the fair value of each option grant on the date of grant using the Black-Scholes option-pricing model. The weighted average assumptions utilized to determine the fair value of options granted during the six months ended June 30, 2020 and 2019 are as follows: Six months ended June 30, 2020 2019 Risk-free interest rate 0 % 1.93 % Expected volatility 0 % 36.95 % Expected life (in years) 0.00 4.27 Dividend yield 0 % 0 % As of June 30, 2020, there were 1,512 options outstanding with a weighted average exercise price of $9.68 per share and 686 options exercisable with a weighted average exercise price of $9.51 per share. Restricted Stock During the three months ended June 30, 2020, 20 shares of restricted stock were granted with a weighted average grant date fair value of $9.09 per share and 0.37 shares of restricted stock were forfeited. Additionally, during the three months ended June 30, 2020, 119 shares of restricted stock vested, of which no shares of common stock were surrendered to the Company as payment by employees in lieu of cash to satisfy minimum tax withholding obligations in connection with the vesting of restricted stock. During the six months ended June 30, 2020, 20 shares of restricted stock were granted with a weighted average grant date fair value of $9.09 per share and 0.37 shares of restricted stock were forfeited. Additionally, during the six months ended June 30, 2020, 221 shares of restricted stock vested, of which no shares of common stock were surrendered to the Company as payment by employees in lieu of cash to satisfy minimum tax withholding obligations in connection with the vesting of restricted stock. As of June 30, 2020, there were 297 shares of restricted stock outstanding that were still subject to service-based vesting conditions. As of June 30, 2020, the Company had no unvested outstanding options and no outstanding shares of restricted stock that were subject to performance-based or market-based vesting conditions. (b) Employee Stock Purchase Plan The Company's Amended and Restated 1996 Employee Stock Purchase Plan (ESPP) affords eligible employees the right to purchase common stock, via payroll deductions, through various offering periods at a purchase price equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. During the three and six months ended June 30, 2020, 0 and 20 shares were issued under the ESPP plan, respectively. During the three and six months ended June 30, 2019, 0 and 23 shares were issued under the ESPP plan, respectively. The Company recorded compensation charges related to the ESPP of $0 and $16 for the three months ended June 30, 2020 and 2019, respectively, and $16 and $30 for the six months ended June 30, 2020 and 2019, respectively. (c) Stock-Based Compensation Expense The following table presents stock-based compensation expense, including under the ESPP, in the Company's consolidated statements of operations for the three and six months ended June 30, 2020 and 2019: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Cost of product sales $ 34 $ 61 $ 74 $ 102 Research and development 137 196 290 368 Sales, marketing and support 139 212 293 394 General and administrative 432 564 890 1,043 $ 742 $ 1,033 $ 1,547 $ 1,907 (d) Accumulated Other Comprehensive Loss (AOCI) Comprehensive income (loss) includes net income (loss), unrealized gains and losses from foreign currency translation, unrealized gains and losses from available for sale marketable securities and changes in fair value related to interest rate swap derivative instruments, net of tax attributes. The components of the Company’s comprehensive income (loss) and the effect on earnings for the periods presented are detailed in the accompanying consolidated statements of comprehensive income (loss). The balances for the three months ended June 30, 2020 and 2019 are as follows: Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, March 31, 2020 $ (5,247) $ (5,247) Other comprehensive loss (130) (130) Net other comprehensive loss (130) (130) Balance, June 30, 2020 $ (5,377) $ (5,377) Foreign Currency Translation Interest Rate Swaps Total Accumulated Other Comprehensive Loss Balance, March 31, 2019 $ (13,640) $ (3) $ (13,643) Other comprehensive (loss) income before reclassifications (1,332) 3 (1,329) Amounts reclassified from AOCI 11,483 — 11,483 Net other comprehensive income 10,151 3 10,154 Balance, June 30, 2019 $ (3,489) $ — $ (3,489) The balances for the six months ended June 30, 2020 and 2019 are as follows: Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, December 31, 2019 $ (2,767) $ (2,767) Other comprehensive loss (2,610) (2,610) Net other comprehensive loss (2,610) (2,610) Balance, June 30, 2020 $ (5,377) $ (5,377) Foreign Currency Translation Interest Rate Swaps Total Accumulated Other Comprehensive Loss Balance, December 31, 2018 $ (14,720) $ (11) $ (14,731) Other comprehensive (loss) income before reclassifications (252) 3 (249) Amounts reclassified from AOCI 11,483 8 11,491 Net other comprehensive income 11,231 11 11,242 Balance, June 30, 2019 $ (3,489) $ — $ (3,489) For additional information, see Note 4, "Marketable Securities," and Note 17, "Derivative Instruments and Hedging Activities." |