Equity-Based Compensation (Tables)
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9 Months Ended |
Sep. 30, 2018 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Share-based Compensation, Performance Shares Award Activity |
The unvested shares of Class A common stock following the exchange of unvested incentive units are summarized as follows: | | | | | | | | | | | Unvested Shares | | Weighted- Average Grant Date Fair Value | Unvested Class A common shares outstanding following the Reorganization Transactions | | 605,390 |
| | $ | 6.55 |
| Vested | | (237,530 | ) | | 8.40 |
| Effect of the Rescission Transactions | | (367,860 | ) | | 5.35 |
| Unvested Class A common shares outstanding—September 30, 2018 | | — |
| | $ | — |
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The unvested LLC Units following the conversion of unvested incentive units are summarized as follows: | | | | | | | | | | | Unvested Units | | Weighted- Average Grant Date Fair Value | Unvested LLC Units outstanding following the Reorganization Transactions | | 3,942,674 |
| | $ | 7.73 |
| Vested | | (637,613 | ) | | 7.74 |
| Effect of the Rescission Transactions | | 367,860 |
| | 5.35 |
| Unvested LLC Units outstanding—September 30, 2018 | | 3,672,921 |
| | $ | 7.49 |
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| Share-based Compensation, Stock Options, Activity |
The following table summarizes the stock option activity for the nine months ended September 30, 2018: | | | | | | | | | | | | | | | | | Stock Options Outstanding | | Weighted- Average Exercise Price | | Weighted- Average Remaining Contractual Term (in years) | | Aggregate Intrinsic Value (in millions) | Balance as of December 31, 2017 | | — |
| | $ | — |
| | | | | Granted | | 5,236,155 |
| | 15.00 |
| | | | | Forfeited or cancelled | | (3,979 | ) | | 15.00 |
| | | | | Balance as of September 30, 2018 | | 5,232,176 |
| | $ | 15.00 |
| | 9.6 | | $ | 88.9 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The grant date fair value of the stock options was determined using the Black-Scholes model with the following assumptions: | | | | Dividend yield | | None | Volatility | | 55.0% | Risk-free interest rate | | 2.97% | Expected term (years) | | 5.63 |
The fair value of the purchase right for the ESPP is estimated on the date of grant using the Black-Scholes model with the following assumptions: | | | | Dividend yield | | None | Volatility | | 55.0% | Risk-free interest rate | | 2.05%—2.50% | Expected term (years) | | 0.5—2.0 |
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| Schedule of Share-based Compensation, Restricted Stock Units Award Activity |
The activity for RSUs for the nine months ended September 30, 2018 was as follows: | | | | | | | | | | | Number of RSUs or Units | | Weighted-Average Grant Date Fair Value | RSUs of Pluralsight, Inc. | | | | | Balance at December 31, 2017 | | 2,178,450 |
| | $ | 7.06 |
| Granted | | 3,464,817 |
| | 11.93 |
| Forfeited or cancelled | | (244,500 | ) | | 7.62 |
| Balance at September 30, 2018 | | 5,398,767 |
| | $ | 10.16 |
| Restricted Share Units of Pluralsight Holdings: | | | | | Balance at December 31, 2017 and September 30, 2018 | | 3,000,000 |
| | $ | 8.24 |
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| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs |
Equity-based compensation expense was classified as follows in the accompanying condensed consolidated statements of operations (in thousands): | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2018 | | 2017 | | 2018 | | 2017 | Cost of revenue | | $ | 40 |
| | $ | 5 |
| | $ | 86 |
| | $ | 15 |
| Sales and marketing | | 4,372 |
| | 631 |
| | 9,343 |
| | 2,010 |
| Technology and content | | 2,790 |
| | 499 |
| | 5,839 |
| | 1,489 |
| General and administrative | | 8,842 |
| | 11,762 |
| | 21,704 |
| | 15,474 |
| Total equity-based compensation | | $ | 16,044 |
| | $ | 12,897 |
| | $ | 36,972 |
| | $ | 18,988 |
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