XML 72 R37.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Employee Stock Option Activity and Related Information

A summary of the Company’s employee stock option activity and related information follows:

 

     Shares      Weighted-
average
exercise price
per share		      Weighted-
average
remaining
contractual
term (in years)		      Aggregate
intrinsic value
(in thousands)		  

Outstanding at December 31, 2013

      2,112,632       $ 4.47         8.12       $ 26,968   

Granted

      1,553,581        17.12         

Canceled

      (206,997 )       13.40         

Exercised

      (164,394 )       2.41         
  

 

 

           

Outstanding at December 31, 2014

   3,294,822    $ 9.98      8.08    $ 17,985   
  

 

 

           

December 31, 2014:

Options vested and expected to vest

   3,288,066   $ 9.79      7.93    $ 18,286   

Options exercisable

   1,423,760   $ 5.34      7.11    $ 12,974   
Company's Options Outstanding

The following table summarizes information about the Company’s options outstanding at December 31, 2014:

 

     Options Outstanding      Options Exercisable  

Exercise Price

    Number of
Shares		      Weighted-
Average
Remaining
Contractual
Life in Years		      Number of
Shares		      Weighted-
Average
Remaining
Contractual
Life in Years		  

$0.32 – 1.92

      787,662         7.09         570,418         7.04   

  2.24 – 3.84

      359,622         5.34         358,138         5.34   

  5.12 – 6.72

      389,070         7.85         200,015         7.81   

  8.96 – 12.50

      493,918         9.08         120,841         8.71   

  13.93 – 20.65

      1,264,550         9.16         174,348        9.08  
  

 

 

        

 

 

     
  3,294,822      1,423,760   
  

 

 

        

 

 

     
Fair Value of Employee Option Grant

The fair value of each employee option grant as of December 31 was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

 

     2014      2013      2012  

Risk-free interest rates

      1.74%–2.15%         1.05%–1.95%         0.85%–1.44%   

Expected term (years)

      6.25         6.25         6.25   

Expected dividend yield

      —          —          —    

Volatility

      57.0%         57.0%–58.0%         54.0%–61.0%   
Stock Compensation Expense

Stock compensation expense for the years ended December 31 was as follows:

 

     2014      2013      2012  
     (In thousands)  

Cost of revenue

    $ 281       $ 49       $ 71   

Research and development

      1,018         273         204   

Selling, general and administrative

      3,234         823         470   
  

 

 

     

 

 

     

 

 

  

Total stock compensation expense

 $   4,533    $   1,145    $     745