| Summary of Option Activity |
A summary of option activity for
years ended December 31, 2019 and 2018 is presented below:
| Options |
|
Shares |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Remaining
Contractual
Term in
Years |
|
|
Intrinsic
Value |
|
| Outstanding at December 31, 2017 |
|
|
7,844,966 |
|
|
$ |
3.75 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
2,378,500 |
|
|
$ |
7.58 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(139,069 |
) |
|
$ |
2.50 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(490,407 |
) |
|
$ |
7.85 |
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2018 |
|
|
9,593,990 |
|
|
$ |
4.51 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
4,125,800 |
|
|
$ |
6.91 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(107,029 |
) |
|
$ |
3.61 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(367,395 |
) |
|
$ |
7.10 |
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2019 |
|
|
13,245,366 |
|
|
$ |
5.19 |
|
|
|
7.02 |
|
|
$ |
20,076,015 |
|
| Exercisable at December 31, 2019 |
|
|
7,836,094 |
|
|
$ |
3.83 |
|
|
|
5.78 |
|
|
$ |
19,809,807 |
|
| Vested and expected to vest at December 31, 2019 |
|
|
12,913,044 |
|
|
$ |
5.15 |
|
|
|
6.97 |
|
|
$ |
20,058,031 |
|
|
| Summary of Non-Vested Stock Options |
As summary of non-vested stock options
for the years ended December 31, 2019 and 2018 is presented below:
| Options |
|
Shares |
|
|
Weighted
Average
Fair
Value |
|
| Non-vested at December 31, 2017 |
|
|
3,329,989 |
|
|
$ |
4.61 |
|
| Granted |
|
|
2,378,500 |
|
|
$ |
5.63 |
|
| Vested |
|
|
(1,643,772 |
) |
|
$ |
3.98 |
|
| Forfeited |
|
|
(438,428 |
) |
|
$ |
5.91 |
|
| Nonvested at December 31, 2018 |
|
|
3,626,289 |
|
|
$ |
5.32 |
|
| Granted |
|
|
4,125,800 |
|
|
$ |
5.03 |
|
| Vested |
|
|
(2,038,128 |
) |
|
$ |
4.95 |
|
| Forfeited |
|
|
(304,689 |
) |
|
$ |
5.22 |
|
| Non-vested at December 31, 2019 |
|
|
5,409,272 |
|
|
$ |
5.21 |
|
|