Stockholders’ Equity and Employee Stock Plans (Tables)

3 Months Ended

Mar. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Option Activity under Plans and Related Information

The following table summarizes option activity under the Plans and related information:

	Options Outstanding					Weighted- Average Remaining
	Number of Shares			Weighted Average Exercise Price		Contractual Term (in years)		Aggregate Intrinsic Value (in thousands) (1)
Balances - January 1, 2018		997,674		$	41.87		5.72	$	5,689
Granted	-				-
Exercised		(168,408	)	$	31.43
Cancelled or forfeited		(93,193	)	$	48.28
Balances - March 31, 2018		736,073		$	43.45		5.27	$	4,823
Vested and expected to vest - March 31, 2018		736,073		$	43.45		5.27	$	4,823
Exercisable - March 31, 2018		640,637		$	42.38		5.00	$	4,727

(1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing stock price of $43.30 of the Company’s common stock on March 31, 2018.

Summary of RSU Activity Outstanding and Weighted Average Grant Date Fair Value

The following table summarizes RSU activity under the Plans and related information:

	Number of Restricted Stock Units Outstanding			Weighted- Average Grant Date Fair Value
Unvested - January 1, 2018		2,353,315		$	47.42
Granted		785,400		$	43.31
Granted, performance RSUs		438,980		$	44.48
Released		(407,535	)	$	41.49
Cancelled or forfeited		(504,423	)	$	43.74
Unvested - March 31, 2018		2,665,737		$	47.33

Stock-Based Compensation Expense

The Company recognized stock-based compensation expense under the 2003 Plan, 2011 Plan, ESPP, Inducement Option and RSU Plans, the Incapsula 2010 Share Incentive Plan and the 2015 Plan in the condensed consolidated statements of operations as follows (in thousands):

	For the three months ended March 31
	2018		2017
Cost of revenue	$	1,321	$	1,269
Research and development		2,445		4,768
Sales and marketing		3,314		3,466
General and administrative		7,557		3,432
Restructuring charges	-			675
Total stock-based compensation expense	$	14,637	$	13,610