Equity Compensation (Tables)
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9 Months Ended |
Sep. 30, 2017 |
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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, 2016
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3,776,405
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11.55
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Exercised
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(1,111,583)
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10.16
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Expired
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(59,552)
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17.50
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Forfeited
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(26,045)
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16.82
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Balance at September 30, 2017
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2,579,225
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11.95
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Exercisable options at September 30, 2017
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2,201,595
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11.58
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5.2
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Vested and expected to vest at September 30, 2017
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2,579,225
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11.95
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5.5
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| Summary of stock options outstanding and exercisable |
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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, 2016
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3,776,405
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11.55
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Exercised
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(1,111,583)
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10.16
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Expired
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(59,552)
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17.50
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Forfeited
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(26,045)
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16.82
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Balance at September 30, 2017
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2,579,225
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11.95
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Exercisable options at September 30, 2017
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2,201,595
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11.58
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5.2
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Vested and expected to vest at September 30, 2017
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2,579,225
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11.95
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5.5
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The following table summarizes information about stock options outstanding and exercisable at September 30, 2017:
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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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3.59
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-
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6.14
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5.98
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875,988
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3.7
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875,988
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3.7
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$
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6.34
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-
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9.93
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8.42
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359,858
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5.8
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287,269
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5.1
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$
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11.28
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-
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16.97
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13.79
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783,732
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6.7
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542,383
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6.6
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$
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17.66
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-
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22.92
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20.99
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559,647
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6.3
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495,955
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6.3
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2,579,225
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2,201,595
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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 Nine Months Ended
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and as of September 30,
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2017
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2016
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Options Exercised
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$
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8,927
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$
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2,978
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Options Exercisable
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39,360
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10,491
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Options Vested and Expected to Vest
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45,152
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11,065
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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, 2016
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1,396,387
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7.60
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Awarded
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782,310
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11.26
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Vested
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(746,819)
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7.65
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Forfeited
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(57,917)
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8.66
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Non-vested balance at September 30, 2017
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1,373,961
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9.61
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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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Nine Months Ended
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September 30,
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September 30,
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2017
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2016
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2017
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2016
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Cost of revenue
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$
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66
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$
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38
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$
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185
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$
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128
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Research and development
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1,031
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789
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3,210
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2,493
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Sales and marketing
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883
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496
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2,831
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1,605
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General and administrative
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1,048
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660
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2,965
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1,707
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Total stock-based compensation expense
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$
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3,028
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$
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1,983
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$
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9,191
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$
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5,933
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