Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure Of Compensation Related Costs Sharebased 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 March 31,
	2015		2014
Cost of revenue	$	26	$	19
Sales and marketing		58		41
General and administrative		7,093		3,788
Research and development		45		28
Total Equity-Based Compensation	$	7,222	$	3,876

Equity-based compensation by equity award type (in thousands, except weighted average years):

	Three Months Ended March 31,				Unrecognized Equity-Based Compensation as of		Weighted Average Years Remaining of Equity-Based Compensation as of
	2015		2014		Mar. 31, 2015		Mar. 31, 2015
Restricted Stock	$	6,655	$	3,293	$	37,632		2.09
SARs		147		250		386		1.32
DSUs		17		146		-		-
		6,819		3,689		38,018
Equity-Based Compensation for Consolidated Businesses		403		187		4,687		3.06
Total Equity-Based Compensation	$	7,222	$	3,876	$	42,705

Changes in Restricted Stock

Share activity with respect to restricted stock awards for the three months ended March 31, 2015 and 2014 was as follows:

	Three Months Ended March 31,
	2015				2014
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
Granted		441,256	$	16.21		3,095,948	$	17.21
Vested		644,247	$	19.70		175,771	$	12.68
Forfeited		43,660	$	17.85		366,666	$	9.96

Issued And Unvested Shares Of Restricted Stock Granted

As of March 31, 2015, issued and unvested shares of restricted stock granted to Actua’s employees 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
	1,157,035	25% each year for four years on the anniversary of the grant date
	91,666	50% in each of May 2015 and November 2015
	24,042	One-third in each of September 2015, March 2016 and September 2016
	18,200	100% in July 2015 (granted to Actua's Board of Directors, see subsection below)
	3,508,624

Changes in Stock Appreciation Rights

Activity with respect to SARs during the three months ended March 31, 2015 and 2014 was as follows:

	Three Months Ended March 31,
	2015						2014
	Number of SARs		Weighted Average Base Price		Weighted Average Fair Value		Number of SARs		Weighted Average Base Price		Weighted Average Fair Value
Granted		1,500	$	16.69	$	8.99		-	$	-	$	-
Exercised (1)		7,897	$	10.61	$	5.72		293,925	$	8.07	$	4.70

⁽¹⁾ The exercise of SARs listed in the three-month period table resulted in the issuance of 1,869 shares and 120,459 shares of Actua’s Common Stock during the three months ended March 31, 2015 and 2014, respectively.

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 three-month period ended March 31, 2015:

	Three Months Ended March 31,
	2015
Expected volatility		56	%
Average expected life of SAR (in years)		6.13
Risk-free interest rate		1.51	%
Dividend yield		-	%