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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2014
Employee Benefit Plans [Abstract]  
Schedule Of Stock-Based Compensation Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2012

 

2013

 

 

2014

Cost of revenue

$

282 

 

$

978 

 

$

2,227 

Technology and development

 

323 

 

 

818 

 

 

1,209 

Sales and marketing

 

476 

 

 

1,079 

 

 

2,466 

General and administrative

 

2,669 

 

 

6,331 

 

 

8,656 

Total

$

3,750 

 

$

9,206 

 

$

14,558 

 

Summary Of Weighted Average Fair Value Of Stock Options Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2012

 

2013

 

2014

Stock options granted (in thousands)

 

983 

 

 

576 

 

 

1,026 

Weighted average fair value at date of grant

$

5.83 

 

$

12.55 

 

$

20.06 

 

Summary Of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

Aggregate intrinsic

 

 

 

Weighted average

 

contractual term

 

value (dollars in

 

Shares

 

exercise price

 

(years)

 

thousands)

Outstanding at December 31, 2013

2,989 

 

$

11.80 

 

6.55 

 

$

142,377 

Granted

1,026 

 

 

42.74 

 

 

 

 

 

Exercised

(648)

 

 

10.40 

 

 

 

 

 

Forfeited

(161)

 

 

33.57 

 

 

 

 

 

Outstanding as of December 31, 2014

3,206 

 

$

20.90 

 

6.75 

 

$

140,029 

Vested and expected to vest at December 31, 2014

3,099 

 

$

20.37 

 

6.68 

 

$

136,960 

Exercisable at December 31, 2014

1,860 

 

$

9.91 

 

5.17 

 

$

101,665 

 

Schedule Of Weighted Average Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2012

 

2013

 

2014

Expected volatility

52.79% 

 

51.43% 

 

46.90% 

Risk-free interest rate

1.26% 

 

1.09% 

 

1.87% 

Expected term (in years)

6.60 

 

6.00 

 

6.09 

Dividend yield

—%

 

—%

 

—%

 

Schedule Of Revenue Growth Targets

 

 

Achievement of Revenue Growth Objective

Percentage of RSU Vesting

20% and Greater

150% will vest

Between 15% but less than 20%

Between 100% and 150% will vest

Between 10% but less than 15%

Between 50% and 100% will vest

Below 10%

None will vest

 

Schedule Of Vesting Targets

 

 

WageWorks Per Share Price on NYSE

Payout Percentage

$100

200%

$90

100%

$75

50%

Below $75

0%

 

Summary Of Restricted Stock Units

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

Grant Date

 

Shares

 

Fair Value

 

(in thousands)

 

 

 

Unvested at December 31, 2013

384 

 

$

24.48 

Granted

384 

 

 

50.03 

Vested

(41)

 

 

24.46 

Forfeitures

(90)

 

 

37.96 

Unvested at December 31, 2014

637 

 

$

37.99