Nautilus 2015 Annual Report Download - page 58
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Please find page 58 of the 2015 Nautilus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Stock-Based Compensation
We receive income tax deductions as a result of the exercise of certain stock options and vesting of RSUs and PSUs. Stock-based compensation expense, primarily
included in general and administrative expense, was as follows (in thousands):
Year Ended December 31,
2015
2014
2013
Stock options $ 327
$ 592
$ 337
RSUs 544
121
54
PSUs 575
353
63
ESPP 38
—
—
$ 1,484
$ 1,066
$ 454
Certain other information regarding our stock-based compensation was as follows (in thousands, except per share amounts):
Year Ended December 31,
2015
2014
2013
Weighted average grant-date per share fair value of stock options granted $ 8.94
$ 5.36
$ 4.37
Total intrinsic value of stock options exercised 4,142
736
451
Fair value of RSUs vested 673
872
545
Fair value of PSUs vested 1,454
—
386
As of December 31, 2015 , unrecognized compensation expense for outstanding, but unvested stock option awards was $0.4 million , which is expected to be
recognized over a weighted average period of 1.2 years.
Employee Stock Purchase Plan
On April 28, 2015, our shareholders approved our Employee Stock Purchase Plan (the “ESPP”). The ESPP is administered by the Compensation Committee of the
Board of Directors and provides a means by which eligible employees may be given an opportunity to purchase shares of our common stock at a discount using
payroll deductions. The ESPP authorizes the issuance of up to 0.5 million shares of our common stock, subject to adjustment as provided in the ESPP for stock
splits, stock dividends, recapitalizations and other similar events.
Pursuant to the ESPP, and subject to certain limitations specified therein, eligible employees may elect to purchase shares of our common stock in one or more of a
series of offerings conducted pursuant to the procedures set forth in the ESPP at a purchase price equal to 90% of the lower of the fair market value of the common
stock on the first trading day of the offering period or on the last day of the offering period. Offering periods commence on May 15 and November 15 of each year
and are six-months in duration, with the exception of the first offering period in 2015, which was a four-month offering. Purchases under the ESPP may be made
exclusively through payroll deductions.
Persons eligible to participate in the ESPP generally include employees who have been employed for at least 12 months prior to the applicable offering date and
who, immediately upon purchasing shares under the ESPP, would own directly or indirectly, an aggregate of less than 5% of the total combined voting power or
value of all outstanding shares of our common stock.
ESPP activity was as follows (shares in thousands):
Shares Available
for Issuance
Weighted-
Average
Purchase Price
Weighted-
Average
Discount per
Share
Balance at December 31, 2014 —
Shares upon ESPP adoption 500
Employee shares purchased (7)
$ 16.69
$ 1.85
Balance at December 31, 2015 493
54