Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Components of Stockholders' Equity

The components of stockholders’ equity are as follows (in thousands):

	Three Months Ended June 30, 2020
	Common Stock								Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital		Retained Earnings		Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at March 31, 2020		23,389	$	234	$	220,308	$	117,477		4,631	$	(171,889	)	$	(7,958	)	$	158,172
Issuance of common stock under    stock plans, net		12		—		6		—		—		—			—			6
Stock-based compensation expense		—		—		2,464		—		—		—			—			2,464
Net income		—		—		—		11,837		—		—			—			11,837
Other comprehensive income		—		—		—		—		—		—			930			930
Balance at June 30, 2020		23,401	$	234	$	222,778	$	129,314		4,631	$	(171,889	)	$	(7,028	)	$	173,409

	Three Months Ended June 30, 2019
	Common Stock								Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital		Retained Earnings		Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at March 31, 2019		23,050	$	231	$	206,655	$	114,401		4,631	$	(171,889	)	$	(5,584	)	$	143,814
Issuance of common stock under    stock plans, net		39		—		875		—		—		—			—			875
Stock-based compensation expense		—		—		2,848		—		—		—			—			2,848
Net income		—		—		—		1,555		—		—			—			1,555
Other comprehensive income		—		—		—		—		—		—			594			594
Balance at June 30, 2019		23,089	$	231	$	210,378	$	115,956		4,631	$	(171,889	)	$	(4,990	)	$	149,686

	Six Months Ended June 30, 2020
	Common Stock									Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital		Retained Earnings			Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at December 31, 2019		23,275	$	233	$	216,454	$	118,147			4,631	$	(171,889	)	$	(4,857	)	$	158,088
Issuance of common stock under    stock plans, net		126		1		1,058		—			—		—			—			1,059
Stock-based compensation expense		—		—		5,266		—			—		—			—			5,266
Cumulative effect adjustment due    to adoption of new accounting    pronouncement, net of tax of $61		—		—		—		(157	)		—		—			—			(157	)
Net income		—		—		—		11,324			—		—			—			11,324
Other comprehensive loss		—		—		—		—			—		—			(2,171	)		(2,171	)
Balance at June 30, 2020		23,401	$	234	$	222,778	$	129,314			4,631	$	(171,889	)	$	(7,028	)	$	173,409

	Six Months Ended June 30, 2019
	Common Stock									Treasury Stock					Accumulated
	Number of Shares		$0.01 Par Value		Additional Paid-in Capital		Retained Earnings			Number of Shares		Cost			Other Comprehensive Income (Loss)			Total Equity
Balance at December 31, 2018		22,951	$	230	$	200,696	$	127,717			4,631	$	(171,889	)	$	(5,154	)	$	151,600
Issuance of common stock under    stock plans, net		138		1		4,149		—			—		—			—			4,150
Stock-based compensation expense		—		—		5,533		—			—		—			—			5,533
Net loss		—		—		—		(11,761	)		—		—			—			(11,761	)
Other comprehensive income		—		—		—		—			—		—			164			164
Balance at June 30, 2019		23,089	$	231	$	210,378	$	115,956			4,631	$	(171,889	)	$	(4,990	)	$	149,686

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the six months ended June 30, 2020 is presented below (in thousands, except per share data):

				Weighted-
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2019		656		$	42.94
Granted		62			31.06
Vested		(83	)		44.04
Forfeited		(76	)		43.77
Unvested at June 30, 2020		559		$	41.35

Schedule of Stock Option Activity

Stock option activity for the six months ended June 30, 2020 is presented below (in thousands, except per share data and contractual term):

				Weighted -		Weighted -
				Average		Average
				Exercise		Remaining		Aggregate
	Number			Price Per		Contractual		Intrinsic
	of Shares			Share		Term (in years)		Value
Outstanding at December 31, 2019		436		$	35.62
Granted		—			—
Exercised		(28	)		32.96
Forfeited		(38	)		38.25
Outstanding at June 30, 2020		370		$	35.56		3.40	$	15
Exercisable at June 30, 2020		367		$	35.52		3.38	$	15
Vested and expected to vest at June 30, 2020		370		$	35.56		3.40	$	15

Summary of Stock-Based Compensation Recorded in Expense Categories in Consolidated Statements of Operations

Forrester recognizes the fair value of stock-based compensation over the requisite service period of the individual grantee, which generally equals the vesting period. Stock-based compensation was recorded in the following expense categories in the Consolidated Statements of Operations (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Cost of services and fulfillment	$	1,232	$	1,567	$	2,825	$	3,030
Selling and marketing		423		485		785		925
General and administrative		809		796		1,656		1,578
Total	$	2,464	$	2,848	$	5,266	$	5,533

Shares Subject to Employee Stock Purchase Plan Valuation Assumptions

Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020			2019			2020			2019
Average risk-free interest rate		0.30	%		2.51	%		0.30	%		2.51	%
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	0.5 Years			0.5 Years			0.5 Years			0.5 Years
Expected volatility		26	%		34	%		26	%		34	%
Weighted average fair value	$	8.10		$	12.50		$	8.10		$	12.50