Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation

v2.4.1.9
Stock-based compensation
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Stock-based compensation
Stock-based compensation
Stock-Based Compensation
In 2006, the Company adopted the 2006 Stock Option and Incentive Plan or the Plan, under which the Board of Directors may grant incentive or non-qualified stock options and stock grants to key employees, directors, advisors and consultants of the Company. The Plan was amended at various dates by the Board of Directors to increase the reserved shares of common stock issuable under the Plan to 3,838,750 as of March 31, 2015, or the Amended Plan.
Stock options vest based upon the terms within the individual option grants, with an acceleration of the unvested portion of such options upon a change in control event, as defined in the Amended Plan. The options are not transferable except by will or domestic relations order. The option price per share under the Amended Plan cannot be less than the fair market value of the underlying shares on the date of the grant. The number of shares remaining available for future issuance under the Amended Plan as of March 31, 2015 was 1,748,783.
Stock option activity for the three months ended March 31, 2015 was as follows: 
Common Stock Options
Number of
Options
 
Exercise
Price
Per
Share
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Life
 
Aggregate
Intrinsic
Value
Outstanding, December 31, 2014
1,356,325

 
 $1.20-$5.39

 
$
2.77

 
5.12 years

 
$
3,618,935

Granted
—

 


 
—

 
—

 
—

Exercised
(222,375
)
 
$1.20-$2.60

 
1.62

 
—

 
—

Canceled and forfeited
(13,150
)
 
 $2.60-$4.50

 
3.15

 
—

 
—

Expired
—

 
—

 
—

 
—

 
—

Outstanding, March 31, 2015
1,120,800

 
 $1.20-$5.39

 
$
2.99

 
6.20 years

 
$
2,330,359

Exercisable, March 31, 2015
759,144

 
 
 
$
2.21

 
 
 
$
2,171,496

Vested and expected to vest, March 31, 2015
1,120,800

 
 
 
$
2.99

 
 

 
$
2,330,359


Stock-Based Compensation - Ilios
In 2009, Ilios adopted the 2009 Stock Incentive Plan, or the 2009 Plan, under which the Board of Directors may grant incentive or non-qualified stock options and stock grants to key employees, directors, advisors and consultants of the Company. The maximum number of shares allowable for issuance under the 2009 Plan is 2,000,000 shares of common stock. The 2009 Plan has 1,325,000 available for grant as of March 31, 2015. There were no grants during 2015 to date. Stock options vest based upon the terms within the individual option grants, with an acceleration of the unvested portion of such options upon a change in control event, as defined in the Plan.