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Stock-based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions in Calculating Fair Value of Stock Options Using Black Scholes

Our assumptions in calculating the fair value of our stock options using Black-Scholes our assumptions for the years ended December 31 were as follows:

 

 

2014

 

 

2013

 

 

2012

 

Expected file (in years)

5.5

 

 

5.5

 

 

5.5

 

Risk-free interest rate (%)

1.5%-1.9%

 

 

1%-1.5%

 

 

1%-1.1%

 

Volatility (%)

55%-62%

 

 

63%-64%

 

 

61%-64%

 

Dividend yield (%)

 

0%

 

 

 

0%

 

 

 

0%

 

 

Summary of Stock Option Activity and Related Information

A summary of stock option activity and related information follows (all share amounts in thousands):  

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term (Years)

 

 

Aggregate Intrinsic Value ($000)

 

Outstanding at December 31, 2013

 

17,177

 

 

$

4.47

 

 

 

 

 

 

 

 

 

Granted

 

2,656

 

 

 

2.62

 

 

 

 

 

 

 

 

 

Exercised

 

(232

)

 

 

2.36

 

 

 

 

 

 

 

 

 

Expired

 

(2,399

)

 

 

6.29

 

 

 

 

 

 

 

 

 

Forfeited

 

(1,601

)

 

 

2.89

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2014

 

15,601

 

 

$

4.00

 

 

5.3

 

 

$

4,787

 

Exercisable, December 31, 2014

 

10,978

 

 

$

4.53

 

 

 

4.0

 

 

$

2,136

 

Vested and expected to vest, December 31, 2014

 

14,453

 

 

$

4.11

 

 

 

5.0

 

 

$

4,128

 

 

Schedule of Exercise Prices for Options Outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercise prices for options outstanding at December 31, 2014 as follows (all share amounts in thousands):

 

Exercise Prices

Options Outstanding

 

 

Weighted-Average Exercise Prices of Options Outstanding

 

 

Weighted-Average Remaining Contractual Life of Options Outstanding (years)

 

 

Options Vested and Exercisable

 

 

Weighted-Average Exercise Prices of Options Vested and Exercisable

 

 

Weighted-Average Remaining Contractual Life of Options Vested and Exercisable (years)

 

$ 1.39 – $ 2.18

 

281

 

 

$

1.46

 

 

 

7.2

 

 

 

137

 

 

$

1.49

 

 

 

6.9

 

$ 2.20 – $ 3.47

 

8,926

 

 

$

2.65

 

 

 

5.8

 

 

 

4,877

 

 

$

2.73

 

 

 

3.3

 

$ 3.69 – $ 5.96

 

3,484

 

 

$

4.08

 

 

 

4.4

 

 

 

3,103

 

 

$

4.05

 

 

 

4.2

 

$ 6.77 – $ 9.86

 

2,910

 

 

$

8.27

 

 

 

4.7

 

 

 

2,861

 

 

$

8.27

 

 

 

4.6

 

Total end of year

 

15,601

 

 

 

 

 

 

 

 

 

 

 

10,978

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Restricted Stock Activity

A summary of restricted stock activity follows (all share amounts in thousands):

 

 

 

 

 

 

 

Nonvested Shares

 

 

Weighted Average Grant Date Fair Value

 

Nonvested at December 31, 2013

 

2,218

 

 

$

2.68

 

Granted

 

830

 

 

 

2.30

 

Vested

 

(1,064

)

 

 

2.90

 

Forfeited

 

(19

)

 

 

2.40

 

Nonvested at December 31, 2014

 

1,965

 

 

$

2.40

 

 

Class A Common Stock Reserved for Future Issuance

As of December 31, 2014, the shares of Class A Common Stock reserved for future issuance are:

 

 

  

(in thousands)

 

Stock incentive plan

  

 

3,118

  

Outstanding stock options

  

 

15,601

  

Note warrant hedge (see Note 12)

  

 

10,001

  

For Series B to A conversion

  

 

4,801

  

Employee stock purchase plan

  

 

1,840

  

Total shares restricted for future use

  

 

35,361

  

 

Non-Cash Stock Based Compensation Expense

Non-cash stock based compensation expense was included in the following income statement captions for the years ended December 31:

 

 

2014

 

 

2013

 

 

2012

 

Direct costs of revenue

$

3,602

 

 

$

4,802

 

 

$

6,131

 

Research and development expenses

 

1,244

 

 

 

1,106

 

 

 

1,599

 

Sales and marketing expense

 

278

 

 

 

513

 

 

 

483

 

General and administrative expense

 

425

 

 

 

615

 

 

 

808

 

Total non-cash stock compensation expense

$

5,549

 

 

$

7,036

 

 

$

9,021