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Common Stock and Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Summary of Stock Option and RSU Activity
A summary of our stock option and RSU activity for the year ended December 31, 2016 is as follows (in thousands, except per share information):
 
 
Options Outstanding
 
RSUs Outstanding
Shares
Available
for Grant
 
Number of
Shares
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
 
Outstanding
RSUs
 
Weighted
Average
Grant Date
Fair Value
 
 
 
 
 
 
(In years)
 
 
 
 
 
 
Outstanding — January 1, 2016
4,323

 
10,778

 
$
11.94

 
7.96
 
$
156,262

 
6,417

 
$
19.54

Increase in authorized shares
5,716

 
 

 
 

 
 
 
 

 
 

 
 

Stock options granted
(1,413
)
 
1,413

 
23.72

 
 
 
 

 
 

 
 

RSUs granted
(4,216
)
 
 

 
 

 
 
 
 

 
4,216

 
21.05

Stock options exercised
 

 
(2,924
)
 
8.70

 
 
 
 

 
 

 
 

RSUs vested
 

 
 

 
 

 
 
 
 

 
(2,894
)
 
18.51

Unvested shares repurchased
38

 
 

 
 

 
 
 
 

 
 

 
 

Stock options forfeited or canceled
788

 
(788
)
 
17.37

 
 
 
 

 
 

 
 

RSUs forfeited or canceled
803

 
 

 
 

 
 
 
 

 
(803
)
 
20.18

Outstanding — December 31, 2016
6,039

 
8,479

 
$
14.52

 
7.49
 
$
66,449

 
6,936

 
$
20.81

Options vested and expected to vest as of December 31, 2016
 
 
8,001

 
$
14.24

 
7.43
 
$
64,639

 
 
 
 
Options vested and exercisable as of December 31, 2016
 
 
3,698

 
$
11.47

 
6.91
 
$
38,609

 
 
 
 
Assumptions Used to Estimate Fair Value of Stock Options Granted to Employees
The assumptions used to estimate the fair value of stock options granted to employees are as follows:
 
Year Ended December 31,
2016
 
2015
 
2014
Expected volatility
47% - 49%
 
49% - 54%
 
54% - 56%
Dividend rate
0%
 
0%
 
0%
Risk-free interest rate
1.1% - 2.0%
 
1.4% - 2.0%
 
1.75% - 2.02%
Expected term (in years)
6.02 - 6.08
 
6.02 - 6.08
 
6.02 - 6.50
Assumptions Used to Estimate Fair Value of ESPP Awards
The assumptions used to estimate the fair value of ESPP awards are as follows:
 
Year Ended December 31, 2016
 
Year Ended December 31, 2015
Expected volatility
42% - 48%
 
37% - 43%
Dividend rate
0%
 
0%
Risk-free interest rate
0.38% - 0.90%
 
0.09% - 0.69%
Expected term (in years)
0.50 -1.50
 
0.50 -1.50