Annual report pursuant to Section 13 and 15(d)

Stock Option and Incentive Plans (Tables)

v3.20.1
Stock Option and Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
Stock option activity for the year ended December 31, 2019, is summarized as follows:
    
Number of
Options
 
Weighted
Average
Exercise Price
 
Weighted
Average Remaining
Contractual Life
(in years)
  
Aggregate
Intrinsic Value
Options outstanding at December 31, 2018
  
 
  718,796  
 
   $ 31.70
 
       
 
Granted
  
 
  565,550  
 
     4.30
 
             
 
     
Exercised
  
 
   
 
    
 
             
 
     
Expired
  
 
  (53,258
 
     18.19
 
             
 
     
Forfeited
  
 
  (14,750
 
     11.87
 
            
 
     
  
 
 
 
 
 
        
 
Options outstanding at December 31, 2019
  
 
  1,216,338  
 
   $ 19.75
 
       7.13     
 
$ 1,098,143  
  
 
 
 
 
 
        
 
 
 
 
Vested and exercisable at December 31, 2019
  
 
  597,665  
 
   $ 33.17
 
       5.43     
 
$ 100,390  
  
 
 
 
 
 
        
 
 
 
 
Assumptions to Compute Fair Value of Stock Option Grants
The following weighted average assumptions were used to compute the fair value of stock option grants:
 
    
Year Ended December 31,
 
    
2019
   
2018
   
2017
 
Risk free interest rate
     2.35     2.58     2.07
Expected dividend yield
                  
Expected term (in years)
     6.06       6.02       6.01  
Expected volatility
     89.7     82.3     79.6