Annual report pursuant to Section 13 and 15(d)

Stock Option and Incentive Plans (Tables)

v3.21.1
Stock Option and Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity Stock option activity for the year ended December 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
     806,500     
 
$ 9.67     
 
        
 
     
Exercised
     (1,250   
 
$ 4.54     
 
        
 
     
Expired
     (65,778   
 
$ 60.00     
 
        
 
     
Forfeited
     (101,969   
 
$ 12.85     
 
        
 
     
    
 
 
    
 
 
 
    
 
        
 
     
Options outstanding at December 31, 2020
     1,853,841     
 
$ 14.33     
 
  7.46     
 
$ 445,147  
    
 
 
    
 
 
 
    
 
        
 
 
 
 
Vested and exercisable at December 31, 2020
     954,898     
 
$ 20.52     
 
  6.10     
 
$ 182,106  
    
 
 
    
 
 
 
    
 
        
 
 
 
 
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,
 
    
2020
   
2019
   
2018
 
Risk free interest rate
     1.14     2.35     2.58
Expected dividend yield
     —         —         —    
Expected term (in years)
     6.03       6.06       6.02  
Expected volatility
     94.6     89.7     82.3