Convertible Preferred Stock and Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2013

Outstanding Convertible Preferred Stock

As of December 31, 2013, no shares of convertible preferred stock were outstanding. The authorized, issued, and outstanding shares of convertible preferred stock at December 31, 2012 were as follows:

	Shares Authorized	Shares Issued and Outstanding	Carrying Value and Liquidation Preference
Series A	43,147,400	4,309,972	$	43,100
Series B	36,750,400	3,579,597		46,893
Series C	93,000,000	9,214,160		130,381
Series D	64,000,000	6,287,026		88,962
Series 1	6,360,500	636,042		7,944
Total	243,258,300	24,026,797	$	317,280

Summary of Option Activities

A summary of Portola’s stock option activity follows:

				Shares
				Subject to			Weighted-
	Shares Available			Outstanding			Average Exercise
	for Grant			Options			Price Per Share
Balance at December 31, 2012		593,011			3,451,178		$	6.35
Options authorized		150,000		–			–
Options granted		(1,022,601	)		1,022,601			18.31
Options exercised	–				(403,468	)		6.40
Options canceled		361,538			(361,538	)		8.58
Balance at December 31, 2013		81,948			3,708,773		$	9.43

Additional Information Related to the Status of Options

Additional information related to the status of options at December 31, 2013, is as follows (aggregate intrinsic value in thousands):

			Weighted-
			Average		Remaining
			Exercise Price		Contractual		Aggregate
	Shares		Per Share		Life		Intrinsic Value
Outstanding and exercisable		3,708,773	$	9.43		6.5	$	60,600
Vested and expected to vest		3,631,910	$	9.26		6.5	$	60,600
Vested		2,324,788	$	6.33		5.0	$	45,199

Stock Options Outstanding and Vested and Exercisable

Additional information regarding our stock options outstanding and vested and exercisable as of December 31, 2013 is summarized below:

	Options Outstanding and Exercisable				Options Vested
	Number of	Weighted
	Options	Average	Weighted		Number	Weighted
	Outstanding	Remaining	Average		of	Average
	and	Contractual	Exercise Price		Options	Exercise Price
Exercise Prices	Exercisable	Life (Years)	per Share		Vested	Per Share
$1.00 - $2.00	14,042	1.1	$	1.34	14,042	$	1.34
$3.30	381,521	2.4		3.30	381,521		3.30
$3.6 - $4.10	378,399	3.9		4.09	378,399		4.09
$4.5 - $5.10	463,189	3.6		5.02	463,189		5.02
$5.30	152,750	4.5		5.30	152,750		5.30
$7.00	449,244	8.1		7.00	206,664		7.00
$8.50	416,921	7.2		8.50	270,056		8.50
$9.00	379,318	6.4		9.00	354,875		9.00
$9.5 - $10.90	406,068	9.2		10.05	26,693		9.75
$19.74 - $28.47	667,321	9.6		22.23	76,599		20.25
	3,708,773	6.5	$	9.43	2,324,788	$	6.33