|
Stock Incentive Plan (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
|
| Summary of Assumptions to Apply Black-Scholes Option-Pricing Model |
The Company
used the following assumptions to apply the Black-Scholes
option-pricing model:
|
|
|
|
|
|
|
| |
|
Years Ended
December 31, |
| |
|
2011 |
|
2012 |
|
2013 |
|
Expected dividend
yield
|
|
0.00% |
|
0.00% |
|
0.00% |
|
Risk-free interest
rate
|
|
0.91% - 2.28% |
|
0.64% - 0.87% |
|
0.87 - 1.36% |
|
Expected term (in
years)
|
|
5.56 - 6.25 |
|
5.56 - 6.25 |
|
6.25 |
|
Volatility
|
|
60% |
|
55% - 60% |
|
55% |
|
| Summary of Stock Option Activity |
The following
table summarizes stock option activity (shares and intrinsic value
in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number
of Options |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Remaining
Contractual
Term
(Years) |
|
|
Aggregate
Intrinsic
Value |
|
|
Outstanding,
January 1, 2013
|
|
|
2,941 |
|
|
$ |
25.90 |
|
|
|
7.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
186 |
|
|
|
22.22 |
|
|
|
|
|
|
|
|
|
|
Exercised
|
|
|
(374 |
) |
|
|
10.15 |
|
|
|
|
|
|
$ |
7,213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(364 |
) |
|
|
33.97 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding,
December 31, 2013
|
|
|
2,389 |
|
|
$ |
26.85 |
|
|
|
6.4 |
|
|
$ |
22,330 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at
December 31, 2013
|
|
|
1,451 |
|
|
$ |
23.45 |
|
|
|
5.4 |
|
|
$ |
17,855 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested or expected to vest
at December 31, 2013
|
|
|
2,331 |
|
|
$ |
26.78 |
|
|
|
6.3 |
|
|
$ |
21,965 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Assumptions Used in the Monte Carlo Simulation Model |
The assumptions
used in the Monte Carlo simulation model include (but are not
limited to) the following:
|
|
|
|
|
| |
|
Year
Ended
December 31,
2013 |
|
|
Risk-free interest
rate
|
|
|
0.62 |
% |
|
Volatility
|
|
|
54 |
% |
|
| Schedule of Restricted Stock Unit Activity |
The following
table summarizes all restricted stock unit activity (shares in
thousands):
|
|
|
|
|
|
|
|
|
| |
|
Number of shares
Underlying Restricted
Stock Units |
|
|
Weighted Average
Grant Date
Fair Value |
|
|
Unvested as of
January 1, 2013
|
|
|
783 |
|
|
$ |
31.14 |
|
|
Restricted stock units
granted
|
|
|
837 |
|
|
|
26.93 |
|
|
Restricted stock units
vested
|
|
|
(259 |
) |
|
|
31.06 |
|
|
Restricted stock units
forfeited
|
|
|
(169 |
) |
|
|
29.26 |
|
|
|
|
|
|
|
|
|
|
|
Unvested as of
December 31, 2013
|
|
|
1,192 |
|
|
$ |
28.47 |
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Stock Based Compensation Allocated to Expense |
The Company
recognized stock based compensation expense within the accompanying
consolidated statements of income as summarized in the following
table (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended
December 31, |
|
| |
|
2011 |
|
|
2012 |
|
|
2013 |
|
|
Cost of revenue
|
|
$ |
316 |
|
|
$ |
484 |
|
|
$ |
706 |
|
|
Research and
development
|
|
|
1,477 |
|
|
|
2,826 |
|
|
|
3,761 |
|
|
Sales and
marketing
|
|
|
2,700 |
|
|
|
4,962 |
|
|
|
7,242 |
|
|
General and
administrative
|
|
|
4,432 |
|
|
|
6,520 |
|
|
|
8,005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8,925 |
|
|
$ |
14,792 |
|
|
$ |
19,714 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|