Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Stock-based compensation expense was recorded in the following cost and expense categories consistent with the respective employee or service provider’s related cash compensation (in thousands):

	Three months ended March 31,
	2020		2019
Cost of revenue
Subscription and support	$	431	$	357
Professional services	425		409
Operating expenses
Research and development	1,583		1,900
Sales and marketing	2,736		1,964
General and administrative	4,761		3,563
Total	$	9,936	$	8,193

Schedule of Stock-Option Activity

The following table summarizes the option activity under the Plans for the three months ended March 31, 2020:

	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
					(in thousands)
Outstanding at December 31, 2019	4,353,167	$	14.32	5.6	$	120,714
Granted	—	—
Forfeited	(21,735)	20.50
Exercised	(225,310)	12.40
Outstanding at March 31, 2020	4,106,122	$	14.39	5.4	$	73,653
Exercisable at March 31, 2020	3,703,584	$	14.01	5.2	$	67,834

Summary of Restricted Stock Units

The following table summarizes the restricted stock unit activity under the Plan for the three months ended March 31, 2020:

	Number of Shares	Weighted- Average Grant Date Fair Value
Unvested at December 31, 2019	3,039,020	$	31.39
Granted	636,445	45.69
Forfeited	(53,456)	32.91
Vested(1)	(286,338)	27.23
Unvested at March 31, 2020	3,335,671	$	34.47

(1) During the three months ended March 31, 2020, in accordance with our Nonqualified Deferred Compensation Plan, recipients of 168,966 shares had elected to defer settlement of the vested restricted stock units and no shares were released from deferral. This resulted in total deferred units of 706,168 as of March 31, 2020.

Schedule of Valuation Assumptions, Employee Stock Purchase Plans

The fair value of our ESPP purchase rights was estimated assuming no expected dividends and the following weighted-average assumptions:

	Three months ended March 31,
	2020	2019
Expected term (in years)	0.5	0.5
Risk-free interest rate	1.5%	2.6%
Expected volatility	40.6%	48.6%