Stock-Based Compensation (Tables)
|
3 Months Ended |
Jun. 30, 2015 |
|---|
| Stockholders' Equity |
|
| Summary of stock-based compensation expense by statement of operations line item |
The following table summarizes, by statement of operations line item, stock-based compensation expense for the first quarter of Fiscal 2016 and 2015 (in thousands):
|
|
|
Three
Months
Ended
June 30, 2015
|
|
Three
Months
Ended
June 30, 2014
|
|
|
Cost of goods sold
|
|
$
|
34
|
|
$
|
21
|
|
|
Research and development
|
|
(14
|
)
|
77
|
|
|
Selling, general and administrative
|
|
443
|
|
589
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense
|
|
$
|
463
|
|
$
|
687
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of stock option activity |
|
|
|
Shares
|
|
Weighted
Average
Exercise Price
|
|
Weighted-
Average
Remaining
Contractual
Term
(in years)
|
|
Aggregate
Intrinsic Value
|
|
|
Options outstanding at March 31, 2015
|
|
13,163,363
|
|
$
|
1.28
|
|
|
|
|
|
|
Granted
|
|
584,500
|
|
0.64
|
|
|
|
|
|
|
Exercised
|
|
—
|
|
—
|
|
|
|
|
|
|
Forfeited, cancelled or expired
|
|
(1,746,669
|
)
|
1.53
|
|
|
|
|
|
|
Options outstanding at June 30, 2015
|
|
12,001,194
|
|
$
|
1.21
|
|
4.5
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options fully vested at June 30, 2015 and those expected to vest beyond June 30, 2015
|
|
11,836,554
|
|
$
|
1.21
|
|
4.5
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at June 30, 2015
|
|
9,830,748
|
|
$
|
1.25
|
|
3.6
|
|
$
|
—
|
|
|
| Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option |
|
|
|
Three
Months
Ended
June 30, 2015
|
|
Three
Months
Ended
June 30, 2014
|
|
|
Risk-free interest rates
|
|
1.5
|
%
|
1.8
|
%
|
|
Expected lives (in years)
|
|
5.7
|
|
5.7
|
|
|
Dividend yield
|
|
—
|
%
|
—
|
%
|
|
Expected volatility
|
|
59.0
|
%
|
77.0
|
%
|
|
Weighted average grant date fair value of options granted during the period
|
|
$
|
0.34
|
|
$
|
0.94
|
|
|
| Schedule of addition information on stock options |
|
|
|
Three Months
Ended June 30,
|
|
|
|
|
2015
|
|
2014
|
|
|
Stock option compensation expense (in thousands)
|
|
$
|
139
|
|
$
|
359
|
|
|
Cash received for exercise price (in thousands)
|
|
$
|
—
|
|
$
|
—
|
|
|
Intrinsic value (in thousands)
|
|
$
|
—
|
|
$
|
—
|
|
|
Weighted average grant date fair value of options exercised during the period
|
|
$
|
—
|
|
$
|
—
|
|
|
| Summary of restricted stock unit activity |
|
|
|
Shares
|
|
Weighted
Average
Grant-Date
Fair Value
|
|
|
Nonvested restricted stock units outstanding at March 31, 2015
|
|
1,868,574
|
|
$
|
1.19
|
|
|
|
|
|
|
|
|
|
Granted
|
|
457,240
|
|
0.70
|
|
|
Vested and issued
|
|
(341,410
|
)
|
1.22
|
|
|
Forfeited
|
|
(183,149
|
)
|
1.14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonvested restricted stock units outstanding at June 30, 2015
|
|
1,801,255
|
|
$
|
1.06
|
|
|
|
|
|
|
|
|
|
|
Restricted stock units expected to vest beyond June 30, 2015
|
|
1,664,259
|
|
$
|
1.06
|
|
|
|
|
|
|
|
|
|
|
| Schedule of additional information on restricted stock units |
|
|
|
Three Months
Ended June 30,
|
|
|
|
|
2015
|
|
2014
|
|
|
Restricted stock compensation expense (in thousands)
|
|
$
|
294
|
|
$
|
299
|
|
|
Aggregate fair value of restricted stock units vested and issued (in thousands)
|
|
$
|
198
|
|
$
|
652
|
|
|
Weighted average grant date fair value of restricted stock units granted during the period
|
|
$
|
0.70
|
|
$
|
1.49
|
|
|
| Schedule of Non-employee directors stock awards |
|
|
|
Three Months
Ended June 30,
|
|
|
|
|
2015
|
|
2014
|
|
|
Non-employee directors stock awards compensation expense (in thousands)
|
|
$
|
30
|
|
$
|
29
|
|
|
Non-employee director deferred stock awards granted
|
|
69,178
|
|
18,944
|
|
|
Weighted average grant date fair value of restricted stock awards granted during the period
|
|
$
|
0.43
|
|
$
|
1.55
|
|
|
| Schedule of nonqualified common stock options and restricted stock units |
|
Outside of 2000 Plan
|
|
Options
|
|
RSUs
|
|
|
Executive Vice President and Chief Executive Officer
|
|
2,000,000
|
|
—
|
|
|
Executive Vice President of Sales and Marketing
|
|
850,000
|
|
—
|
|
|
Vice President of Operations
|
|
250,000
|
|
46,875
|
|
|
Former Senior Vice President of Program Management
|
|
250,000
|
|
—
|
|
|
Former Senior Vice President of Human Resources
|
|
200,000
|
|
—
|
|
|
Outstanding stock outside of 2000 Plan
|
|
3,550,000
|
|
46,875
|
|
|