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Equity-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Equity-Based Compensation
Equity-based compensation by expense line item on Actua’s Consolidated Statements of Operations (in thousands):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2015
 
2014
 
2015
 
2014
Cost of revenue
 
$
29

 
$
20

 
$
55

 
$
39

Sales and marketing
 
79

 
42

 
137

 
83

General and administrative
 
6,887

 
6,648

 
13,980

 
10,294

Research and development
 
126

 
29

 
171

 
199

Total Equity-Based Compensation
 
$
7,121

 
$
6,739

 
$
14,343

 
$
10,615


Equity-based compensation by equity award type (in thousands, except weighted average years):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
Unrecognized Equity-Based Compensation as of
 
Weighted Average Years Remaining of Equity-Based Compensation as of
 
 
2015
 
2014
 
2015
 
2014
 
June 30, 2015
 
June 30, 2015
Restricted Stock
 
$
6,167

 
$
6,268

 
$
12,822

 
$
9,561

 
$
33,180

 
1.98
SARs
 
133

 
201

 
279

 
451

 
253

 
1.35
DSUs
 
19

 
99

 
36

 
245

 
1,166

 
2.95
 
 
6,319

 
6,568

 
13,137

 
10,257

 
34,599

 
 
Equity-Based Compensation for Consolidated Businesses
 
802

 
171

 
1,206

 
358

 
9,292

 
3.34
Total Equity-Based Compensation
 
$
7,121

 
$
6,739

 
$
14,343

 
$
10,615

 
$
43,891

 
 
Changes in Restricted Stock
Share activity with respect to restricted stock awards for the three and six months ended June 30, 2015 and 2014 was as follows:
 
 
Number of Shares
 
Weighted Average Grant Date Fair Value
Issued and unvested as of December 31, 2013
 
1,185,071

 
$
9.52

Granted
 
3,095,948

 
$
17.21

Vested
 
(175,771
)
 
$
12.68

Forfeited
 
(366,666
)
 
$
9.96

Issued and unvested as of March 31, 2014
 
3,738,582

 
$
15.70

Granted
 
135,000

 
$
17.41

Vested
 
(61,647
)
 
$
10.52

Issued and unvested as of June 30, 2014
 
3,811,935

 
$
15.84


 
 
Number of Shares
 
Weighted Average Grant Date Fair Value
Issued and unvested as of December 31, 2014
 
3,755,275

 
$
15.94

Granted
 
441,256

 
$
16.21

Vested
 
(644,247
)
 
$
19.70

Forfeited
 
(43,660
)
 
$
17.85

Issued and unvested as of March 31, 2015
 
3,508,624

 
$
15.75

Granted
 
140,416

 
$
13.17

Vested
 
(63,017
)
 
$
10.80

Issued and unvested as of June 30, 2015
 
3,586,023

 
$
15.74
Issued And Unvested Shares Of Restricted Stock Granted
As of June 30, 2015, issued and unvested shares of restricted stock granted to Actua’s employees and Board of Directors vest as follows: 
Number of Shares Unvested
 
Vesting Conditions
1,714,366

 
Subject to certain market conditions, as discussed below
503,315

 
Subject to certain performance conditions, as discussed below
1,139,850

 
25% each year for four years on the anniversary of the grant date
45,834

 
November 2015
24,042

 
One-third in each of September 2015, March 2016 and September 2016
68,616

 
27% in July 2015, 73% in June 2016 (granted to Actua's Board of Directors, see subsection below)
90,000

 
One-third in June 2016, 8% quarterly thereafter (granted to Actua's Board of Directors, see subsection below)
3,586,023

 
 
 
 
 
 
 
 
 
 
Changes in Stock Appreciation Rights
Activity with respect to SARs during the three and six months ended June 30, 2015 and 2014 was as follows:
 
 
Number of SARs
 
Weighted Average Base Price
 
Weighted Average
Fair Value
Outstanding as of December 31, 2013
 
1,232,808

 
$
8.86

 
$
4.99

Exercised (1)
 
(293,925
)
 
$
8.07

 
$
4.70

Outstanding as of March 31, 2014
 
938,883

 
$
9.10

 
$
5.07

Exercised (1)
 
(24,352
)
 
$
9.56

 
$
4.92

Outstanding as of June 30, 2014
 
914,531

 
$
9.09

 
$
5.06


 

 

 


 
Number of SARs
 
Weighted Average Base Price
 
Weighted Average
Fair Value
Outstanding as of December 31, 2014
 
548,482

 
$
10.62

 
$
5.79

Granted
 
1,500

 
$
16.69

 
$
8.99

Exercised (1)
 
(7,897
)
 
$
10.61

 
$
5.72

Outstanding as of March 31, 2015
 
542,085

 
$
10.64

 
$
5.80

Activity for the three months ended June 30, 2015
 
—

 
$
—

 
$
—

Outstanding as of June 30, 2015
 
542,085

 
$
10.64

 
$
5.80

(1)
The exercise of SARs listed above resulted in the issuance of 120,459 shares, 8,634 shares and 1,869 shares of Actua’s Common Stock during the three-month periods ended March 31, 2014, June 30, 2014, and March 31, 2015, respectively. There were no SARs exercised, and, accordingly, no shares of Actua's Common Stock issued as a result of any exercise, during the three months ended June 30, 2015.
Assumptions Used to Determine Fair Value of Stock Appreciation Rights Granted to Employees
The following assumptions were used to determine the fair value of SARs granted to employees by Actua during the six-month period ended June 30, 2015:
 
Six Months Ended June 30,
 
2015
Expected volatility
56
%
Average expected life of SAR (in years)
6.13

Risk-free interest rate
1.51
%
Dividend yield
—
Assumptions Used to Determine Fair Value of Stock Options
The following assumptions were used to determine the fair value of stock options granted by Actua's consolidated businesses to their employees during the six-month period ended June 30, 2015. Due to insufficient historical data, Actua's consolidated businesses used the simplified method to determine the expected life of all stock options granted under the respective equity incentive plans.
 
Six Months Ended June 30,
 
2015
Expected volatility
35%-45%

Average expected life of SAR (in years)
5.84-6.25

Risk-free interest rate
1.42%-1.61%

Dividend yield
—