Common Stock

9 Months Ended

Sep. 30, 2012

Common Stock [Abstract]

Common Stock

(4) Common Stock

The Company is authorized to issue 600,000,000 shares of common stock and 10,000,000 shares of preferred stock at September 30, 2012. Holders of common stock are not entitled to receive dividends unless declared by the board of directors.

On February 21, 2012, the Company issued and sold 1,750,980 shares of common stock at a price of $10.20 per share for gross proceeds of $17.9 million in a private placement with a new stockholder.

During the nine months ended September 30, 2012, the Company repurchased and subsequently cancelled 100,000 and 77,498 shares of common stock at a price of $10.00 and $11.50 per share, respectively, from former employees.

As of September 30, 2012, the Company had 123,371,566 shares of common stock outstanding and had reserved shares of common stock for future issuance as follows:

	September 30, 2012
Stock option plan:
Options outstanding		37,279,442
RSUs		1,134,851
Stock awards available for future grants:
2005 Stock Option Plan (1)		—
2012 Equity Incentive Plan (1)		11,635,301
2012 Employee Stock Purchase Plan (1)		5,000,000
Total reserved shares of common stock for future issuance		55,049,594

(1) Refer to Note 5 for a description of these plans.