Juno 2014 Annual Report Download - page 116
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Table of Contents
The weighted-average grant date fair value of restricted stock units granted during the years ended December 31, 2014, 2013 and 2012 was $11.26,
$11.71 and $9.62, respectively. The fair value of restricted stock units that vested during the years ended December 31, 2014, 2013 and 2012 was
$7.7 million, $10.8 million and $7.6 million, respectively. At December 31, 2014, the intrinsic value of nonvested restricted stock units was $11.7 million. At
December 31, 2014, nonvested restricted stock units expected to vest totaled 0.8 million with an intrinsic value totaling $11.0 million. At December 31,
2014, total unrecognized compensation cost related to nonvested restricted stock units, net of expected forfeitures, was $5.8 million and was expected to be
recognized over a weighted-average period of 1.0 years.
The following table summarizes stock option activity:
The weighted-average grant date fair value of stock options granted during the year ended December 31, 2014 and 2012 was $5.39 and $2.02,
respectively. The Company did not grant any stock options during the year ended December 31, 2013. The total intrinsic value of stock options exercised
during the years ended December 31, 2014, 2013 and 2012 was $0, $1.5 million, and $6,000, respectively. Cash received from the exercise of stock options
for the years ended December 31, 2014, 2013 and 2012 was $0, $5.1 million and $5,000, respectively. Tax benefits realized from stock options exercised in
the years ended December 31, 2013 was $1.2 million, prior to consideration of our deferred tax asset valuation allowance, and was immaterial for the years
ended December 31, 2014 and 2012. At December 31, 2014, total unrecognized compensation cost related to unvested stock options, net of expected
forfeitures, was $3.2 million and was expected to be recognized over a weighted-average period of 1.1 years.
The fair value of stock options granted during the year ended December 31, 2014 was estimated using the Black-Scholes option pricing model with the
following weighted-average assumptions:
F-34
Outstanding at December 31,
2013 471 $ 17.03
Granted 906 $ 11.24
Forfeited/canceled (430) $ 15.29
Outstanding at December 31,
2014 947 $ 12.28 8.4 $ 2,772
Exercisable at December 31,
2014 186 $ 16.55 4.5 $ 251
Expected to vest at
December 31, 2014 728 $ 11.23 9.3 $ 2,417
Risk-free interest rate 1.87%
Expected term (in years) 5.96
Dividend yield 0%
Volatility 48.93%