Subsequent Events

3 Months Ended

Jul. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On August 2, 2016 the Company completed a tender offer in which the Company exchanged certain outstanding options to purchase shares of the Company's common stock under a one-time stock option exchange program (the “Exchange Program”) for its employees, excluding its executive officers and members of the Company's board of directors. The Exchange Program permitted eligible employees to exchange outstanding stock options (vested or unvested) granted under the Company's 2012 Equity Incentive Plan and 2005 Stock Plan, with exercise prices equal to or greater than $6.11 per share, which was the 52-week high trading price of its common stock as of the start date of the exchange program (the “Eligible Options”), for a lesser number of stock options having an exercise price per share equal to the market closing price on the date of grant, which was August 2, 2016. A total of 113 eligible participants participated in the Exchange Program. Pursuant to the terms and conditions of the Exchange Program, the Company accepted for exchange Eligible Options to purchase 599,517 shares of the Company’s common stock, representing approximately 68.3% of the total shares of common stock underlying the Eligible Options. All surrendered options were canceled, and immediately thereafter, the Company granted a total of 241,399 replacement options in exchange therefor, pursuant to the terms of the Exchange Program and the Company’s 2012 Equity Incentive Plan.