Options granted during the nine months ended September 30, 2012
were as follows:
| Grant
Date |
|
Expire
Date |
|
Shares |
|
|
Exercise Price |
|
|
Fair Value(1)
|
|
| January 31, 2012(2)
|
|
January 31, 2022 |
|
|
3,630,000 |
|
|
$ |
2.80 |
|
|
$ |
4,346 |
|
| May 29, 2012(2)
|
|
May 29, 2022 |
|
|
25,000 |
|
|
$ |
1.47 |
|
|
$ |
26 |
|
| July 12, 2012(3)
|
|
July 12, 2022 |
|
|
20,000 |
|
|
$ |
1.55 |
|
|
$ |
19 |
|
| September 28, 2012(3)
|
|
September 28, 2022 |
|
|
450,000 |
|
|
$ |
1.32 |
|
|
$ |
329 |
|
|
(1) |
Fair value is calculated using the Black-Scholes option pricing
model. |
|
(2) |
Options vest in four equal annual installments beginning on the
first anniversary of the respective grant dates. |
|
(3) |
Options fully vest on the first anniversary of the respective
grant dates. |
|