Equity Compensation (Tables)
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3 Months Ended |
Mar. 31, 2016 |
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| Equity Compensation |
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| Summary of stock option activity |
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Weighted
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Average
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Shares Subject
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Weighted
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Remaining
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to Options
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Average
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Contractual
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Outstanding
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Exercise Price
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Life (Years)
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Balance at December 31, 2015
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4,572,672
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$
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10.72
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Exercised
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(25,248)
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4.59
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Expired
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(31,064)
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13.20
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Forfeited
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(18,496)
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14.97
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Balance at March 31, 2016
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4,497,864
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10.72
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Exercisable options at March 31, 2016
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3,301,042
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9.09
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5.2
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Vested and expected to vest at March 31, 2016
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4,412,280
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10.64
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5.9
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| Summary of stock options outstanding and exercisable |
The following table summarizes information about stock options outstanding and exercisable at March 31, 2016:
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Options Outstanding
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Options Exercisable
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Weighted-
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Weighted-
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Weighted
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Average
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Average
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Average
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Number of
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Remaining
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Number of
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Remaining
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Exercise
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Underlying
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Contractual
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Underlying
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Contractual
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Range of Exercise Prices
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Price
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Shares
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Life (in years)
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Shares
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Life (in years)
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$
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2.34
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-
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3.59
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2.74
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236,980
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0.8
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236,980
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0.8
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$
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4.78
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-
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7.28
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5.83
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1,607,342
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4.4
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1,584,958
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4.3
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$
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7.49
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-
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11.28
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9.77
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1,073,896
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6.2
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792,572
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5.7
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$
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11.72
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-
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17.66
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14.76
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879,833
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8.6
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308,828
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8.5
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$
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19.56
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-
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22.92
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21.04
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699,813
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7.7
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377,704
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7.6
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4,497,864
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3,301,042
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| Summary of aggregate intrinsic-value of options exercised, exercisable, and vested and expected to vest |
The following table summarizes the aggregate intrinsic-value of options exercised, exercisable and vested and expected to vest (in thousands):
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For the Three Months Ended
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and as of March 31,
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2016
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2015
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Options Exercised
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$
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76
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$
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782
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Options Exercisable
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4,698
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14,232
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Options Vested and Expected to Vest
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4,715
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15,915
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| Schedule of assumptions used to estimate fair value of option awards |
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Three Months Ended
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March 31,
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2015
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Expected volatility
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54
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-
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55
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%
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Expected dividends
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0
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%
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Expected terms (in years)
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6.1
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Risk-free rate
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1.3
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-
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1.6
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%
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| Summary of restricted stock unit activity |
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Number of
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Weighted Average
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Shares
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Grant Date Fair Value
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Non-vested balance at December 31, 2015
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425,000
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$
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8.18
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Awarded
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1,044,366
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7.32
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Non-vested balance at March 31, 2016
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1,469,366
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7.57
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| Schedule of total stock-based compensation expense classified in statements of operations |
Total stock-based compensation expense has been classified as follows in the accompanying Condensed Consolidated Statements of Operations (in thousands):
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Three Months Ended
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March 31,
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2016
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2015
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Cost of revenue
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$
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43
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$
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47
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Research and development
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814
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772
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Sales and marketing
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509
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454
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General and administrative
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457
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576
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Total stock-based compensation expense
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$
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1,823
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$
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1,849
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