Stock-Based Compensation

3 Months Ended

Mar. 31, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

Note 11. Stock-Based Compensation

Stock Options

The following table summarizes the activity for all stock options under all of the Company’s equity incentive plans for the three months ended March 31, 2017 (shares in thousands):

						Weighted
				Weighted		Average		Aggregate
	Number			Average		Remaining		Intrinsic
	of Options			Exercise Price		Contractual Life		Value
Outstanding at January 1, 2017		12,897		$	5.94		7.49
Granted		4,269			5.00
Exercised		(41	)		1.96
Cancelled / forfeited		(118	)		8.87
Outstanding at March 31, 2017		17,007		$	5.70		7.94	$	11,677
Options vested and exercisable at    March 31, 2017		7,581		$	5.24		6.42	$	9,392

Restricted Stock Units

The following table summarizes the activity for all restricted stock units (“RSUs”) under all of the Company’s equity incentive plans for the three months ended March 31, 2017 (shares in thousands):

				Weighted
				Average
	Number			Grant Date
	of Awards			Fair Value
Unvested balance at January 1, 2017		4,106		$	6.87
Granted		2,534			5.00
Issued		(281	)		5.63
Cancelled / forfeited		(275	)		5.58
Unvested balance at March 31, 2017		6,084		$	6.20

Employee Stock Purchase Plan

Under the Company’s 2015 Employee Stock Purchase Plan (“ESPP”), eligible employees are offered shares bi-annually through two six month offering periods, which begin on the first trading day on or after May 15 and November 15 of each year. Employees may purchase a limited number of shares of the Company’s common stock via regular payroll deductions at a discount of 15% of the lower of the fair market value of the Company’s common stock on the first trading date of each offering period or on the exercise date. Employees may deduct up to 15% of payroll, with a cap of $25,000 of fair market value of shares in any calendar year and 2,000 shares per employee per offering period.

Stock-Based Compensation Expense

The Company recognized stock-based compensation expense, including ESPP expenses, in the consolidated statements of operations as follows (in thousands):

	Three Months Ended March 31,
	2017		2016
Cost of operating leases and incentives	$	751	$	207
Cost of solar energy systems and product sales		114		81
Sales and marketing		1,917		1,618
Research and development		149		97
General and administration		2,943		1,806
Total	$	5,874	$	3,809