11. Stockholders’ Equity

Share repurchases

On May 3, 2018, the Company’s Board of Directors approved a share purchase program permitting repurchases of up to $25.0 million of the Company’s outstanding shares of common stock through June 7, 2019. During the quarter ended June 30, 2018, the Company repurchased a total of 44,600 shares of its common stock for an aggregate purchase price of $1.0 million, including brokers’ fees. Intended to offset shareholder dilution, the Company expects to make repurchases periodically, either on the open market or in privately negotiated transactions, subject to availability, as business and market conditions warrant. The share repurchase program does not obligate the Company to acquire any particular amount of common stock, and the program may be suspended or discontinued at management’s and/or the Board of Directors’ discretion.

Stock Based Compensation

We account for stock based compensation in accordance with ASC Topic No. 718, Compensation – Stock Compensation, which requires the measurement of compensation costs at fair value on the date of grant and recognition of compensation expense over the service period for awards expected to vest. The following presents the impact of stock based compensation expense on our condensed consolidated statements of operations (in thousands):


	Three Months Ended June 30,					Six Months Ended June 30,
	2018			2017		2018			2017
Marketing and selling	$	2,152		$	2,563	$	3,886		$	4,893
Research and development		893			1,078		1,881			2,096
General and administrative		1,545			1,551		3,070			3,034
Restructuring		(1,402	)		—		(1,402	)		—

Total expensed	$	3,188		$	5,192	$	7,435		$	10,023
Property and equipment		7			31		21			53

Total stock based compensation	$	3,195		$	5,223	$	7,456		$	10,076

In the three months ended June 30, 2018 and 2017, $7 thousand and $31 thousand, respectively, of stock based compensation was capitalized as part of internal software projects, and this amount is included in property and equipment, net in our condensed consolidated balance sheet. In the six months ended June 30, 2018 and 2017, $21 thousand and $53 thousand, respectively, of stock based compensation was capitalized as part of internal software projects, and this amount is included in property and equipment, net in our condensed consolidated balance sheet. For the three and six months ended June 30, 2018, $1.4 million of stock based compensation expense was reversed as a result of forfeitures of awards by employees included in the restructuring plan. This non-recurring amount has been included in restructuring expenses.

As of June 30, 2018, the Company had $34.0 million of unrecognized compensation expense related to employees and directors’ unvested stock option awards, restricted stock units and restricted stock awards that are expected to be recognized over a weighted-average period of 2.4 years.