XML 64 R33.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Stock-based Awards (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of stock option activity
A summary of the Company’s stock option activity for the year ended December 31, 2019 is as follows:
 
Number of Options
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Life
 
Aggregate Intrinsic Value (1)
 
 
 
 
 
(in years)
 
(in millions)
Outstanding at December 31, 2018
14,114,651

 
$
12.32

 
7.0
 
 
Granted
2,128,069

 
6.94

 
 
 
 
Exercised
(364,525
)
 
7.82

 
 
 
 
Forfeited/expired
(5,252,215
)
 
12.68

 
 
 
 
Outstanding at December 31, 2019
10,625,980

 
$
11.22

 
5.2
 
$
0.3

Vested and expected to vest at December 31, 2019
10,625,980

 
$
11.22

 
5.2
 
$
0.3

Exercisable at December 31, 2019
7,927,239

 
$
11.18

 
4.2
 
$
0.2

 
(1)
The aggregate intrinsic value represents the excess of the closing price of the Company’s common stock of $4.75 on December 31, 2019 over the exercise price of in-the-money stock option awards.
Schedule of activity in connection with the restricted stock units
A summary of the Company’s restricted stock unit (“RSU”) activity for the year ended December 31, 2019 is as follows:
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Non-vested — December 31, 2018
5,375,963

 
$
11.01

Granted
5,436,368

 
6.36

Vested
(2,830,183
)
 
9.44

Forfeited
(2,091,156
)
 
9.63

Non-vested — December 31, 2019
5,890,992

 
$
7.96
Schedule of fair value of stock option awards
The fair value of each stock option award was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Risk-free interest rate
2.32
%
 
2.85
%
 
1.89
%
Expected term (years)
6.07

 
5.94

 
6.25

Expected volatility
60
%
 
46
%
 
47
%
Dividend yield
—

 
—

 
—
Schedule of stock-based compensation cost relating to stock options, restricted stock awards and RSUs
The Company recorded stock-based compensation cost relating to stock options and RSUs in the following categories on the accompanying consolidated statements of comprehensive loss (in thousands):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Cost of revenue
$
2,157

 
$
1,726

 
$
1,105

Sales and marketing
13,362

 
13,950

 
10,353

Technology and development
8,256

 
10,589

 
8,060

General and administrative
14,199

 
10,954

 
12,723

Total stock-based compensation expense
37,974

 
37,219

 
32,241

Amount capitalized to internal-use software
1,811

 
1,890

 
1,407

Total stock-based compensation cost
$
39,785

 
$
39,109

 
$
33,648