Table of Contents
Amended and Restated 2014 Stock Plan
Our board of directors adopted and our stockholders initially approved the 2014 Plan in January 2014 and amended and restated the 2014
Plan in August 2014. As of September 30, 2015, options to purchase 1,583,521 shares of common stock were outstanding under the 2014 Plan, with a weighted average exercise price per share
of $13.99. As of September 30, 2015, up to a maximum of 424,932 shares remained available for future issuance pursuant to the grant of options or other stock awards under the 2014 Plan.
Stock Awards. The 2014 Plan provides for the grant of incentive stock options, or ISOs, non-qualified stock options, or
NSOs, stock appreciation
rights, restricted stock awards, restricted stock unit awards and other stock awards. ISOs may be granted only to employees. All other awards may be granted to directors, officers and employees of the
Share Reserve. In connection with our Class D preferred stock financing, the board of directors and stockholders
approved an amendment to the
2014 Plan to increase the total share reserve to 2,146,452 shares. The maximum number of shares of common stock that may be granted to any individual in any given year under the 2014 Plan is 67% of
the shares authorized under the 2014 Plan. These amounts are subject to adjustment for stock splits, stock dividends and other changes in our capital structure. We may use authorized and unissued
shares or treasury shares in connection with grants under the 2014 Plan. Shares underlying the unexercised or undistributed portion of any terminated, expired or forfeited award are available for
further awards under the 2014 Plan. Shares withheld or delivered for tax withholding or as the exercise price of a stock option are not available for future awards. In addition, certain awards may be
payable in cash.
awards may be made under the 2014 Plan on or after the tenth anniversary of the effective date of the 2014 Plan. However, upon effectiveness of the 2016 Plan, we will not issue any
further awards under the 2014 Plan.
Stock options granted under the 2014 Plan may vest on the basis of the satisfaction of performance conditions established by the
compensation committee or on the basis of the passage of time and continued employment or both. Options will have up to a ten-year term. All options are granted with an exercise price not less than
the fair market value of our common stock on the date of grant.
2014 Plan permits the grant of either incentive stock options or options not qualifying as incentive stock options under the Code.
or changing the terms of an option to lower its option price or taking any other action which has the economic effect of repricing options is not permitted under the terms of
the 2014 Plan without stockholder approval.
The compensation committee may award shares of common stock that are subject to restrictions and conditions as determined by the
compensation committee. Restricted stock awards may vest on the basis of the satisfaction of performance goals established by the compensation committee or on the basis of the passage of time and
continued employment. Recipients of restricted stock receive dividends on, and may vote the shares subject to a grant. Shares of restricted stock may not, however, be sold or otherwise transferred
prior to the lapse of the restrictions.