Share-Based Compensation

9 Months Ended

Sep. 30, 2015

Share-Based Compensation:

The Company records compensation expense for all share-based payments based on the estimated grant date fair value. There was no share-based compensation expense recognized for the quarters ended September 30, 2015 or 2014, or the nine months ended September 30, 2015. Share-based compensation was $2,100 for the nine months ended September 30, 2014. There were no material tax benefits related to share-based compensation expense because virtually all share-based compensation resulted from grants of incentive stock options.

The fair value of each option granted is estimated on the date of grant using the Black-Scholes option pricing model. There were no option grants during the quarters or nine months ended September 30, 2015 or 2014.

A summary of stock option activity for the nine months ended September 30, 2015 is as follows:



	Options		Weighted-Average Exercise Price per Share		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding on December 31, 2014	50,896		$	4.35
Granted	—		—
Exercised	—		—
Forfeited/canceled	(5,080	)	3.83
Outstanding on September 30, 2015	45,816				2.0	$	—
Exercisable on September 30, 2015	45,816		$	4.41	2.0	$	—

There were no non-vested stock options as of September 30, 2015 or changes to non-vested stock options during the nine months then ended.

As of September 30, 2015, there was no unrecognized compensation cost related to stock option grants.

RBC LIFE SCIENCES, INC. 10-Q