Stockholders' Equity (Tables)
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3 Months Ended |
Mar. 31, 2016 |
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| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
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| Schedule of Share-based Compensation, Activity |
The following table summarizes the stock-based compensation expense from stock option awards, restricted common stock awards, employee stock purchase programs and warrants granted by Fortress for the three months ended March 31, 2016 and 2015: | | | For the Three Months Ended March 31, | | | ($ in thousands) | | 2016 | | 2015 | | | Employee awards | | $ | 1,584 | | $ | 1,463 | | | Non-employee awards | | | 3 | | | 7 | | | Fortress Companies (1) | | | 1,279 | | | - | | | Total stock-based compensation expense | | $ | 2,866 | | $ | 1,470 | | | (1) | Consists of approximately $9,000 of Avenue's compensation expenses, approximately $1.1 million of Checkpoint's compensation expense, and approximately $181,000 of JMC's compensation expenses on equity grants for the three months ended March 31, 2016. |
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| Schedule of Share-based Compensation, Stock Options, Activity |
The following table summarizes Fortress stock option activities excluding activity related to Fortress Companies: | | | | | | | | | Weighted average | | | | | | | | | Total weighted | | remaining | | | | | | | | Weighted average | | average intrinsic | | contractual life | | | | | Number of shares | | exercise price | | value | | (years) | | | Options vested and expected to vest at December 31, 2015 | | | 1,779,365 | | $ | 4.37 | | $ | 666,396 | | | 6.32 | | | Options granted | | | - | | | - | | | - | | | | | | Options vested and expected to vest at March 31, 2016 | | | 1,779,365 | | $ | 4.37 | | $ | 853,984 | | | 6.07 | | | Options vested and exercisable | | | 1,082,168 | | $ | 3.75 | | $ | 805,651 | | | 5.62 | |
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| Nonvested Restricted Stock Shares Activity |
The following table summarizes Fortress’ restricted stock and restricted stock unit award activity, excluding activity related to Fortress Companies (which is discussed below): | | | | | Weighted average | | | | | Number of shares | | grant price | | | Unvested balance at December 31, 2015 | | | 8,757,935 | | $ | 2.47 | | | Restricted stock granted | | | 1,240,868 | | | 2.77 | | | Restricted stock vested | | | (989,782) | | | 2.73 | | | Restricted stock units granted | | | 165,000 | | | 3.22 | | | Restricted stock units cancelled | | | (25,000) | | | 3.71 | | | Restricted stock units vested | | | (341,917) | | | 3.55 | | | Unvested balance at March 31, 2016 | | | 8,807,104 | | $ | 2.45 | |
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| Schedule of Warrant Activities |
The following table summarizes Fortress warrant activities, excluding activities related to Fortress Companies: | | | | | | | Total weighted | | Weighted average | | | | | | | Weighted average | | average intrinsic | | remaining contractual | | | | | Number of shares | | exercise price | | value | | life (years) | | | Outstanding as of December 31, 2015 | | | 569,835 | | $ | 6.31 | | $ | 120,700 | | | 1.84 | | | Exercised (*) | | | (25,000) | | | 1.37 | | | 43,250 | | | | | | Outstanding as of March 31, 2016 | | | 544,835 | | $ | 6.53 | | $ | 103,800 | | | 1.67 | | | Exercisable as of March 31, 2016 | | | 544,835 | | $ | 6.53 | | $ | 103,800 | | | 1.67 | | (*) - cashless
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The fair value of options granted in 2016 was estimated using the following assumptions: | | | For the three | | | | | months ended | | | | | March 31, | | | | | 2016 | | | Risk-free interest rate | | | 1.46% - 1.82 | % | | Expected dividend yield | | | - | | | Expected term in years | | | 5.23-6.95 | | | Expected volatility | | | 96.89% - 102.05 | % |
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