Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.20.1
Stock Option and Incentive Plans (Tables)
3 Months Ended
Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
A summary of stock option activity for the three months ended March 31, 2020, 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, 2019
     1,216,338      $ 19.75        
Granted
     634,500        10.78        
Exercised
     —          —          
Expired
     (8,000      27.77        
Forfeited
     (24,250      11.76        
  
 
 
          
Options outstanding at March 31, 2020
     1,818,588        16.69        7.93      $  844,718
  
 
 
          
 
 
 
Vested and exercisable at March 31, 2020
     663,055        30.71        5.66      $ 90,400
  
 
 
          
 
 
 
Assumptions to Compute Fair Value of Stock Option Grants
The following assumptions were used to compute the fair value of stock options granted during the period:
 
    
Three Months Ended

March 31,
 
    
2020
   
2019
 
Risk free interest rate
     1.35     2.51
Expected dividend yield
     —         —    
Expected term (in years)
     6.06       6.06  
Expected volatility
     94.0     89.3