NOTE 13: - STOCKHOLDERS' EQUITY
|12 Months Ended|
Dec. 31, 2014
|Disclosure Text Block Supplement [Abstract]|
|Shareholders' Equity and Share-based Payments [Text Block]||
NOTE 13:– STOCKHOLDERS’ EQUITY
a. Stockholders’ rights:
The Company’s shares confer upon the holders the right to receive notice to participate and vote in the general meetings of the Company and right to receive dividends, if and when declared.
b. The Company has adopted the following stock award plans, whereby options may be granted for purchase of shares of the Company’s common stock and where restricted shares and restricted stock units may be granted if approved by the Board of Directors. Each restricted stock unit is equal to one share of Company stock and is redeemable only for stock. Under the terms of the award plans, the Board of Directors or the designated committee grants options, restricted stock and restricted stock units. The Board of Directors or the designated committee also determines the vesting period and the exercise terms.
1. 2007 Non-Employee Director Equity Compensation Plan – 750,000 shares reserved for issuance, of which 344,050 were available for future grants to outside directors as of December 31, 2014.
2. 2009 Equity Incentive Plan – 5,000,000 shares reserved for issuance, of which 2,641,568 were available for future grants to employees and consultants as of December 31, 2014.
3. Under these plans, restricted shares and restricted stock units generally vest after one to three years or pursuant to defined performance criteria; in the event that employment is terminated within that period, unvested restricted shares and restricted stock units generally revert back to the Company.
4. Stock compensation expense is recorded ratably over the vesting period of the option or the restriction period of the restricted shares and restricted stock units. The stock compensation expense that has been charged in the consolidated statements of comprehensive income in respect of restricted shares and restricted stock units to employees and directors in 2014 and 2013 was $1,411,970 and $437,306, respectively. All stock options were fully vested as of December 31, 2102.
5. A summary of the status of the Company’s plans and other share options, restricted shares and restricted stock units granted as of December 31, 2014 and 2013, and changes during the years ended on those dates, is presented below:
Restricted Shares and Restricted Stock Units:
6. The remaining total compensation cost related to non-vested restricted share and restricted stock unit awards not yet recognized (before applying a forfeiture rate) in the income statement as of December 31, 2014 was $708,057. The weighted average period over which this compensation cost is expected to be recognized is approximately one year.
7. On January 1, 2009, the Company adopted FASB ASC 260-45-28, Share-Based Payment Arrangements, which classifies unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities and requires them to be included in the computation of earnings per share using the two class method. The Company has determined that the unvested restricted stock issued to our employees and directors are “participating securities” and as such, are included, net of estimated forfeitures, in the total shares used to calculate the Company’s both the basic and diluted earnings per share.
The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details.
No definition available.