Stock-based Awards

3 Months Ended

Mar. 31, 2015

9.Stock‑based Awards

Stock Options

A summary of the Company’s stock option activity for the three months ended March 31, 2015 is as follows:


		Weighted-		Weighted-
		Average		Average
	Number of	Exercise		Remaining
	Options	Price		Contract Life
				(in years)
Outstanding at December 31, 2014	25,589,876	$	9.79	7.55
Granted	430,189		17.66
Exercised	(772,140)		5.04
Canceled/forfeited	(395,016)		12.39
Outstanding at March 31, 2015	24,852,909	$	10.03	7.39

At March 31, 2015, total remaining stock‑based compensation expense for unvested stock option awards was $57.5 million, which is expected to be recognized over a weighted‑average period of 2.9 years. For the three months ended March 31, 2015 and 2014, the Company recorded stock-based compensation expense for stock option awards of $7.0 million and $4.1 million, respectively.

Restricted Stock Units

Activity in connection with the restricted stock units is as follows for the three months ended March 31, 2015:


		Weighted-
		Average
	Number of	Grant Date
	Shares	Fair Value
Non-vested — December 31, 2014	827,997	$	12.36
Granted	237,901		17.73
Vested	(138,145)		15.70
Canceled/forfeited	(95,991)		10.50
Non-vested — March 31, 2015	831,762	$	13.56

At March 31, 2015, total remaining stock‑based compensation expense for non-vested restricted stock units is $8.1 million, which is expected to be recognized over a weighted-average period of 3.6 years. The Company recorded $2.5 million and no stock-based compensation expense for restricted stock units for the three months ended March 31, 2015 and 2014, respectively.

Stock‑based Compensation Cost

The Company recorded stock‑based compensation cost relating to stock options and restricted stock awards in the following categories on the accompanying consolidated statements of comprehensive loss (in thousands):


	Three Months Ended
	March 31,
	2015		2014

Cost of revenue	$	177	$	54
Sales and marketing		1,390		1,036
Technology and development		926		706
General and administrative		6,960		2,348
Total stock-based compensation expense		9,453		4,144
Amount capitalized to internal software use		331		294
Total stock-based compensation cost	$	9,784	$	4,438

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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