Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

4.	Stock-Based Compensation

For the three-month periods ended March 31, 2016 and 2015, our total stock-based compensation expense, which includes reversals of expense for certain forfeited or cancelled awards, was approximately $341,000 and $1.1 million, respectively. We have not recorded any income tax benefit related to stock-based compensation in either of the three-month periods ended March 31, 2016 and 2015.

A summary of the status of our stock options as of March 31, 2016, and changes during the three-month period then ended, is presented below:

	Three Months Ended March 31, 2016
	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at beginning of period		5,437,064		$	1.96
Granted		366,457			0.96
Exercised		—			—
Canceled and Forfeited		(112,000	)		1.86
Expired		(299,000	)		2.42
Outstanding at end of period		5,392,521		$	1.87	7.5 years	$	104,600
Exercisable at end of period		3,337,968		$	2.03	6.8 years	$	101,276

A summary of the status of our unvested restricted stock as of March 31, 2016, and changes during the three-month period then ended, is presented below:

	Three Months Ended March 31, 2016
	Number of Shares			Weighted Average Grant-Date Fair Value
Unvested at beginning of period		361,000		$	1.69
Granted		—			—
Vested		(66,000	)		1.65
Forfeited		(161,000	)		1.75
Unvested at end of period		134,000		$	1.63

During the three-month period ended March 31, 2016, 66,000 shares of restricted stock held by non-employee directors with an aggregate fair value of $63,360 vested as scheduled according to the terms of the restricted stock agreements. Also during the three-month period ended March 31, 2016, 161,000 shares of unvested restricted stock were forfeited upon termination of certain directors and an officer.

As of March 31, 2016, there was approximately $815,000 of total unrecognized compensation expense related to unvested stock-based awards, which we expect to recognize over the remaining weighted average vesting term of 1.7 years.