Common stock

12 Months Ended

Dec. 31, 2016

Common stock

Common stock

10. Common stock

The common stockholders are entitled to a distribution of all remaining assets (which may be more or less than the original investment), on a proportionate basis, in the event of the dissolution or winding up of the Company, after payment of all liabilities of the Company and the liquidation preference of all series of preferred stock then outstanding. The common stock has no conversion or redemption rights. The common stock is entitled to one vote per share at all general meetings of the Company. The common stockholders are entitled to share in all dividends and distributions, which may be declared by the Company, on a proportionate basis with all other classes and series of stock outstanding.

During the year ended December 31, 2016, the Company issued 3,474,944 shares of common stock as follows:

Restricted stock grants	59,260
Restricted stock cancellations	(164,455)
Preferred stock converted to common	2,162,907
Employee option exercises	1,417,232
Total common stock issued	3,474,944

During the year ended December 31, 2015, the Company issued 510,390 shares of common stock as follows:

Restricted stock grants	752,835
Restricted stock cancellations	(1,025,559)
Employee option exercises	783,114
Total common stock issued	510,390