XML 82 R42.htm IDEA: XBRL DOCUMENT v3.20.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Total Stock-Based Compensation Expense
The following table presents total stock-based compensation expense recorded in the consolidated statements of operations and comprehensive income (loss) for all awards granted under the Company’s 2013 Plan and the 2011 Plan:
 
For the Year Ended December 31,
 
2017
 
2018
 
2019
 
(in thousands)
Cost of revenue
$
6,135

 
$
3,823

 
$
3,282

Sales and marketing
8,658

 
5,418

 
7,217

Engineering and development
6,090

 
4,495

 
4,908

General and administrative
39,118

 
15,328

 
20,285

Total stock-based compensation expense
$
60,001

 
$
29,064

 
$
35,692
Stock Incentive Plan The weighted-average assumptions used to compute stock-based compensation expense for awards granted under the 2013 Plan during the years ended December 31, 2017, 2018 and 2019 are as follows:
 
2017
 
2018
 
2019
Risk-free interest rate
2.2
%
 
2.9
%
 
2.6
%
Expected volatility
50.5
%
 
47.8
%
 
44.6
%
Expected life (in years)
6.25

 
6.00

 
6.00

Expected dividend yield
—

 
—

 
—
Summary of Stock Options
The following table provides a summary of the Company’s stock options as of December 31, 2019 and the stock option activity for all stock options granted under the 2011 Plan during the year ended December 31, 2019:
 
Stock
Options
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual 
Term
(in years)
 
Aggregate
Intrinsic
Value(3)
(in thousands)

Outstanding at December 31, 2018
715,104

 
$
9.00

 
 
 
 
Granted
—

 
$
—

 
 
 
 
Exercised
(6,793
)
 
$
4.81

 
 
 
 
Forfeited
(27,281
)
 
$
9.53

 
 
 
 
Canceled
(147,483
)
 
$
9.75

 
 
 
 
Outstanding at December 31, 2019
533,547

 
$
8.83

 
2.0
 
$
19

Exercisable at December 31, 2019
512,265

 
$
8.79

 
1.9
 
$
19

Expected to vest after December 31, 2019(1)
21,282

 
$
9.71

 
3.6
 
$
—

Exercisable as of December 31, 2019 and expected to vest thereafter(2)
533,547

 
$
8.83

 
2.0
 
$
19


(1)
This represents the number of unvested options outstanding as of December 31, 2019 that are expected to vest in the future.
(2)
This represents the number of vested options as of December 31, 2019 plus the number of unvested options outstanding as of December 31, 2019 that are expected to vest in the future.
(3)
The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2019 of $4.70 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options
The following table provides a summary of the Company’s stock options as of December 31, 2019 and the stock option activity for all stock options granted under the 2013 Plan during the year ended December 31, 2019: 
 
Stock
Options
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual 
Term
(in years)
 
Aggregate
Intrinsic
Value(3)
(in thousands)

Outstanding at December 31, 2018
7,322,293

 
$
11.62

 
 
 
 
Granted
1,215,789

 
$
7.99

 
 
 
 
Exercised
—

 
$
—

 
 
 
 
Forfeited
(201,365
)
 
$
8.04

 
 
 
 
Canceled
(3,060,038
)
 
$
12.23

 
 
 
 
Outstanding at December 31, 2019
5,276,679

 
$
10.57

 
6.7
 
$
—

Exercisable at December 31, 2019
3,688,733

 
$
11.63

 
5.8
 
$
—

Expected to vest after December 31, 2019(1)
1,587,946

 
$
8.12

 
8.6
 
$
—

Exercisable as of December 31, 2019 and expected to vest thereafter(2)
5,276,679

 
$
10.57

 
6.6
 
$
—

 
(1)
This represents the number of unvested options outstanding as of December 31, 2019 that are expected to vest in the future.
(2)
This represents the number of vested options as of December 31, 2019 plus the number of unvested options outstanding as of December 31, 2019 that are expected to vest in the future.
(3)
The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2019 of $4.70 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options.
Summary of Restricted Stock Awards and Restricted Stock Units The following table provides a summary of the Company’s restricted stock unit activity for the 2013 Plan during the year ended December 31, 2019:  
 
Restricted Stock Units
 
Weighted-
Average
Grant Date
Fair Value
Non-vested at December 31, 2018
5,203,259

 
$
7.69

Granted
7,426,877

 
$
6.62

Vested
(2,126,221
)
 
$
7.70

Canceled
(1,498,806
)
 
$
7.12

Non-vested at December 31, 2019
9,005,109

 
$
6.90


The following table provides a summary of the Company’s restricted stock award activity for the 2013 Plan during the year ended December 31, 2019:
 
Restricted Stock Awards
 
Weighted-
Average
Grant Date
Fair Value
Non-vested at December 31, 2018
443,247

 
$
11.67

Granted
—

 
$
—

Vested
(246,757
)
 
$
12.57

Canceled
(36,973
)
 
$
9.87

Non-vested at December 31, 2019
159,517

 
$
10.68


The following table provides a summary of the Company’s restricted stock unit activity for the 2011 Plan during the year ended December 31, 2019:
 
Restricted Stock Units
 
Weighted-
Average
Grant Date
Fair Value
Non-vested at December 31, 2018
868,026

 
$
8.26

Granted
—

 
$
—

Vested
(435,919
)
 
$
8.20

Canceled
(111,965
)
 
$
8.26

Non-vested at December 31, 2019
320,142

 
$
8.35