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Employee Benefit Plans (Tables)
9 Months Ended
Sep. 30, 2015
Employee Benefit Plans [Abstract]  
Summary Of Weighted-Average Fair Value Of Stock Options Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2014

 

2015

 

2014

 

2015

Stock options granted (in thousands)

 

55 

 

 

413 

 

 

988 

 

 

464 

Weighted average fair value at date of grant

$

18.95 

 

$

18.70 

 

$

19.76 

 

$

19.09 

 

Summary Of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

Aggregate intrinsic

 

 

 

Weighted average

 

contractual term

 

value (dollars in

 

Shares

 

exercise price

 

(years)

 

thousands)

Outstanding at December 31, 2014

3,206 

 

$

20.90 

 

6.75 

 

$

140,029 

Granted

464 

 

 

49.24 

 

 

 

 

 

Exercised

(354)

 

 

13.25 

 

 

 

 

 

Forfeited

(155)

 

 

38.84 

 

 

 

 

 

Outstanding as of September 30, 2015

3,161 

 

$

25.03 

 

6.51 

 

$

67,636 

Vested and expected to vest at September 30, 2015

3,067 

 

$

24.52 

 

6.44 

 

$

67,066 

Exercisable at September 30, 2015

1,984 

 

$

15.05 

 

5.14 

 

$

60,512 

 

Schedule Of Weighted Average Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2014

 

2015

 

2014

 

2015

Expected volatility

45.12% 

 

43.43% 

 

46.97% 

 

43.49% 

Risk-free interest rate

1.89% 

 

1.55% 

 

1.87% 

 

1.55% 

Expected term (in years)

6.25 

 

4.74 

 

6.08 

 

4.74 

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 Price Per Share 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, 2014

637 

 

$

37.99 

Granted

249 

 

 

57.82 

Vested

(70)

 

 

32.04 

Forfeitures

(43)

 

 

39.99 

Unvested at September 30, 2015

773 

 

$

44.81 

 

Schedule Of Stock-Based Compensation Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2014

 

2015

 

2014

 

2015

Cost of revenue

$

721 

 

$

977 

 

$

1,547 

 

$

2,676 

Technology and development

 

367 

 

 

391 

 

 

862 

 

 

733 

Sales and marketing

 

665 

 

 

660 

 

 

1,563 

 

 

1,992 

General and administrative

 

1,981 

 

 

3,397 

 

 

6,040 

 

 

9,273 

Total

$

3,734 

 

$

5,425 

 

$

10,012 

 

$

14,674