Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In October 2015, the Compensation Committee of the Company's Board of Directors (the "Compensation Committee") granted 1,686,875 restricted stock units with a weighted-average grant date fair value of $5.20 which vest quarterly over an approximate period of four years. Additionally, the Compensation Committee granted stock options to purchase 462,573 shares of the Company’s common stock at a weighted-average exercise price of $6.32 per share. The stock options vest over an approximate period of four years.

In November 2015, the Company committed to a plan to consolidate its Santa Monica real estate from five office locations to three locations. As part of this program, the Company will increase its Santa Monica real estate footprint from 68,000 square feet to 76,000 square feet and create operational efficiencies by reducing its number of locations. The Company plans to exit three locations and move into one new location in the fourth quarter of 2015. In accordance with accounting for exit and disposal activities, the Company estimates that it will incur lease termination costs of approximately $1.7 million.