Quarterly report pursuant to Section 13 or 15(d)

Share-based compensation

v2.4.0.6
Share-based compensation
 3 Months Ended
Oct. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 4 – Share-based compensation


The following table sets forth the amount of expense related to share-based payment arrangements included in specific line items in the accompanying statements of operations:


 

 

 

 

 

 

 

 

 

 

Three months ended
October 31,

 

 

 

2011

 

2010

 

 

 

 

 

Cost of clinical laboratory services

 

$

2

 

$

3

 

Research and development

 

 

3

 

 

3

 

Selling, general and administrative

 

 

208

 

 

321

 

 

 

 

 

 

 

$

213

 

$

327

 

 

 

 

 


No excess tax benefits were recognized during the three month periods ended October 31, 2011 and 2010.


Stock option plans


A summary of the activity relating to the Company’s stock option plans for the three month period ended October 31, 2011 is as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

Options

 

Weighted
Average
Exercise Price

 

Aggregate
Intrinsic Value

 

 

 

 

 

 

Outstanding at August 1, 2011

 

 

785,124

 

$

14.53

 

$

—

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

—

 

 

 

 

Cancelled

 

 

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding and exercisable at end of period

 

 

785,124

 

$

14.53

 

$

—

 

 

 

 

 

 

 

 


As of October 31, 2011, there was no unrecognized compensation cost related to unvested stock option-based compensation.


Restricted Stock Awards


A summary of the activity pursuant to the Company’s restricted stock awards for the three months ended October 31, 2011 is as follows:


 

 

 

 

 

 

 

 

 

 

Awards

 

Weighted
Average
Award Price

 

 

 

 

 

Unvested at August 1, 2011

 

 

311,952

 

$

4.84

 

Awarded

 

 

—

 

$

—

 

Vested

 

 

(2,850

)

$

10.07

 

Forfeited

 

 

(3,250

)

$

4.28

 

 

 

 

 

Unvested at end of period

 

 

305,852

 

$

4.80

 

 

 

 

 


The fair value of a restricted stock award is determined based on the closing stock price on the award date. As of October 31, 2011, there was approximately $0.8 million of unrecognized compensation cost related to unvested restricted stock-based compensation to be recognized over a weighted average remaining period of one year.


The total number of shares available for grant as stock options or award as restricted stock is approximately 2,821,000 as of October 31, 2011.