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Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2014
Schedule of Number of Shares Outstanding and Number of Shares Available for Future Grant

The following table summarizes the number of shares outstanding and the number of shares available for future grant under the stock incentive plan at March 31, 2014:

 

 

March 31, 2014

 

Number of shares reserved under the 2013 Plan

 

3,500

 

Number of shares remaining for future grants transferred from Prior Plan

 

844

 

Number of stock options outstanding under the 2013 Plan

 

(780

) 

Weighted average exercise price

$

25.05

 

Weighted average term (in years)

 

9.8

 

Number of restricted stock units issued under the 2013 Plan

 

(68

)

Number of shares remaining for future grants

 

 

 

SciQuest, Inc. 2013 Stock Incentive Plan

 

3,496

 

 
Schedule of Restricted Stock Unit Activity

The following summarizes the activity of restricted stock units for the three months ended March 31, 2014:

 

 

Number of
Shares

 

 

Weighted-
Average Grant
Date Fair Value

 

Nonvested as of December 31, 2013

 

49

 

 

$

18.02

 

Issued

 

41

 

 

 

25.01

 

Vested

 

(9

) 

 

 

16.30

 

Nonvested as of March 31, 2014

 

81

 

 

$

21.78

 

 
Schedule of Stock Option Activity

The Company also issues common stock options. The following summarizes stock option activity for the three months ended March 31, 2014:

 

 

Number of Options

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term (In Years)

 

 

Aggregate
Intrinsic Value
as of
March 31,
2014

 

Balance outstanding as of December 31, 2013

 

1,967

 

 

$

15.22

 

 

 

8.0

 

 

$

26,168

 

Options granted

 

431

 

 

 

26.05

 

 

 

 

 

 

 

 

 

Options exercised

 

(40

) 

 

 

7.56

 

 

 

 

 

 

 

 

 

Options canceled

 

(24

) 

 

 

16.35

 

 

 

 

 

 

  

  

 

Balance outstanding as of March 31, 2014

 

2,334

 

 

$

17.33

 

 

 

8.2

 

 

$

22,918

 

Vested and expected to vest at March 31, 2014

 

2,054

 

 

$

16.82

 

 

 

8.1

 

 

$

22,132

 

Exercisable as of March 31, 2014

 

930

 

 

$

11.72

 

 

 

6.9

 

 

$

14,235

 

 
Schedule of Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at March 31, 2014:

 

 

 

Options Outstanding at March 31, 2014

 

 

Options Exercisable at March 31, 2014

 

Range of Exercise Price

 

Number

 

 

Weighted-
Average
Remaining
Contractual Term
(In Years)

 

 

Weighted-
Average
Exercise Price

 

 

Number

 

 

Weighted-
Average
Exercise Price

 

$0.08 –$0.14

 

 

29

 

 

 

1.1

 

 

$

0.09

 

 

 

29

 

 

$

0.09

 

$0.14 –$1.90

 

 

3

 

 

 

4.5

 

 

 

1.34

 

 

 

3

 

 

 

1.34

 

$2.04 –$8.18

 

 

224

 

 

 

5.7

 

 

 

3.66

 

 

 

224

 

 

 

3.65

 

$11.45 –$17.41

 

 

1,194

 

 

 

7.8

 

 

 

14.87

 

 

 

642

 

 

 

14.53

 

$17.50 –$27.64

 

 

709

 

 

 

9.5

 

 

 

23.76

 

 

 

28

 

 

 

22.66

 

$27.91 –$29.14

 

 

175

 

 

 

9.9

 

 

 

28.71

 

 

 

4

 

 

 

28.68

 

Total

 

 

2,334

 

 

 

8.2

 

 

$

17.33

 

 

 

930

 

 

$

11.72

 

 
Schedule of Assumptions used to Calculate Fair Value of Common Stock Options

The fair value of common stock options for employees and non-employees is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions used:

 

 

Three Months Ended March 31,

 

 

2014

 

 

2013

 

Estimated dividend yield

 

0

%

 

 

0

%

Expected stock price volatility

 

46.11 - 46.33

%

 

 

55.00

%

Weighted-average risk-free interest rate

 

1.75 - 1.84

%

 

 

1.1

%

Expected life of options (in years)

 

6.25

 

 

 

6.25