|PACIRA PHARMACEUTICALS, INC. filed this Form 10-K on 03/01/2017|
PACIRA PHARMACEUTICALS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
NOTE 11—STOCK PLANS (Continued)
In November 2014, the Company’s Board of Directors approved amendments to stock options held by a departing Vice President. The amendments accelerated the vesting of nine months’ worth of options and as a result the Company recognized an additional $0.6 million in stock-based compensation expense for the year ended December 31, 2014.
The following table summarizes the Company’s stock option activity and related information for the period from January 1, 2014 to December 31, 2016:
As of December 31, 2016, $57.1 million of total unrecognized compensation cost related to non-vested stock options is expected to be recognized over a weighted average period of 2.8 years. The Company’s stock options have a maximum expiration date of ten years from the date of grant.
The weighted average fair value of stock options granted for the years ended December 31, 2016, 2015 and 2014 was $19.13, $37.82 and $42.62 per share, respectively. The fair values of stock options granted were estimated using the Black-Scholes model with the following weighted average assumptions: