CONTROL4 CORP - 10-Q filing on 2016-08-05

Equity Compensation (Tables)

6 Months Ended

Jun. 30, 2016


						Weighted
		Weighted				Average
	Shares Subject	Average		Weighted		Remaining
	to Options	Grant Date		Average		Contractual
	Outstanding	Fair Value		Exercise Price		Life (Years)
Balance at December 31, 2015	4,572,672			$	10.72
Granted	50,000		4.63		8.16
Exercised	(163,071)				4.36
Expired	(49,001)				13.38
Forfeited	(42,701)				16.02
Balance at June 30, 2016	4,367,899				10.85

Exercisable options at June 30, 2016	3,317,629				9.54	5.2
Vested and expected to vest at June 30, 2016	3,316,345				10.79	5.8

Summary of stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable at June 30, 2016:


				Options Outstanding				Options Exercisable
							Weighted-		Weighted-
				Weighted			Average		Average
				Average		Number of	Remaining	Number of	Remaining
				Exercise		Underlying	Contractual	Underlying	Contractual
Range of Exercise Prices				Price		Shares	Life (in years)	Shares	Life (in years)
$	2.34	-	3.59		2.78	206,448	0.6	206,448	0.6
$	4.78	-	7.28		5.90	1,499,698	4.3	1,477,314	4.2
$	7.49	-	11.28		9.69	1,109,401	6.1	836,360	5.5
$	11.72	-	17.66		14.75	867,106	8.4	382,475	8.3
$	19.56	-	22.92		21.04	685,246	7.4	415,032	7.2
						4,367,899		3,317,629

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):


	For the Six Months Ended
	and as of June 30,
	2016		2015
Options Exercised	$	585	$	1,039
Options Exercisable		4,553		6,991
Options Vested and Expected to Vest		4,574		7,266

Schedule of assumptions used to estimate fair value of option awards


	Three Months Ended							Six Months Ended
	June 30,							June 30,
	2016			2015				2016			2015
Expected volatility		62	%			53	%		62	%	53	-	55	%
Expected dividends		0	%			0	%		0	%			0	%
Expected terms (in years)		6.1		5.3	-	6.1			6.1		5.3	-	6.1
Risk-free rate		1.1	%	1.5	-	1.8	%		1.1	%	1.3	-	1.8	%

Summary of restricted stock unit activity


	Number of	Weighted Average
	Shares	Grant Date Fair Value
Non-vested balance at December 31, 2015	425,000	$	8.18
Awarded	1,139,846		7.37
Forfeited	(50,000)		7.32
Non-vested balance at June 30, 2016	1,514,846		7.60

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):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Cost of revenue	$	47	$	39	$	90	$	86
Research and development		890		667		1,704		1,439
Sales and marketing		600		387		1,109		841
General and administrative		590		586		1,047		1,162
Total stock-based compensation expense	$	2,127	$	1,679	$	3,950	$	3,528