XML 51 R34.htm IDEA: XBRL DOCUMENT v3.3.1.900
Share Based Awards (Tables)
12 Months Ended
Dec. 31, 2015
Schedule of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

 

 

 

 

 

 

 

 

 

Weighted-

 

Aggregate

 

 

 

Number of

 

 

 

 

 

 

Average

 

Intrinsic

 

 

 

Shares

 

 

 

Weighted-

 

Remaining

 

Value

 

 

 

Available for

 

Number of

 

Average

 

Contractual

 

(In thousands)

 

 

 

Issuance

 

Shares

 

Exercise Price

 

Term (Years)

 

Aggregate

 

Balance—December 31, 2012

 

574,597

 

10,950,917

 

$

2.11

 

8.78

 

$

17,329

 

Authorized

 

4,478,151

 

 —

 

 

 

 

 

 

 

 

 

Granted

 

(4,891,242)

 

4,891,242

 

 

4.33

 

 

 

 

 

 

Exercised (1)

 

 

 

(695,482)

 

 

1.72

 

 

 

 

 

 

Canceled

 

1,815,795

 

(1,815,795)

 

 

2.55

 

 

 

 

 

 

Repurchased

 

108,037

 

 —

 

 

 

 

 

 

 

 

 

Balance—December 31, 2013

    

2,085,338

    

13,330,882

    

$

2.90

    

8.38

    

$

38,339

 

Authorized

 

9,913,915

 

 —

 

 

 

 

 

 

 

 

 

Stock options granted

 

(5,373,131)

 

5,373,131

 

 

6.97

 

 

 

 

 

 

Restricted stock units granted

 

(480,456)

 

 

 

 

 

 

 

 

 

 

 

Exercised (1)

 

 —

 

(1,089,708)

 

 

2.27

 

 

 

 

 

 

Stock options canceled

 

1,178,737

 

(1,178,737)

 

 

4.55

 

 

 

 

 

 

Restricted stock units canceled

 

1,667

 

 —

 

 

 

 

 

 

 

 

 

Repurchased

 

66,088

 

 

 

 

 

 

 

 

 

 

 

Balance—December 31, 2014

 

7,392,158

 

16,435,568

 

$

4.15

 

7.83

 

$

95,791

 

Authorized

 

5,418,242

 

 

 

 

 

 

 

 

 

 

 

Stock options granted

 

(1,089,100)

 

1,089,100

 

 

6.95

 

 

 

 

 

 

Restricted stock units granted

 

(9,932,561)

 

 

 

 

 

 

 

 

 

 

 

Exercised (1)

 

9,019

 

(2,817,915)

 

 

2.12

 

 

 

 

 

 

Stock options canceled

 

3,208,006

 

(3,208,006)

 

 

5.61

 

 

 

 

 

 

Restricted stock units canceled

 

1,653,927

 

 

 

 

 

 

 

 

 

 

 

Repurchased

 

12,545

 

 —

 

 

 

 

 

 

 

 

 

Balance—December 31, 2015

 

6,672,236

 

11,498,747

 

 

4.51

 

6.86

 

 

6,256

 

Vested and exercisable—December 31, 2015

 

 

 

7,167,464

 

 

3.55

 

 

 

$

6,202

 

Vested and expected to vest (2)—December 31, 2015

 

 

 

11,032,059

 

 

4.43

 

 

 

$

6,250

 


(1)

Includes early exercises of 42,772 and 126,386 in 2014 and 2013, respectively. In 2015 no shares of common stock were issued for the exercise of common stock options prior to their vesting dates, or early exercises.

 

(2)

Options expected to vest are net of an estimated forfeiture rate.

 

Additional Information Regarding Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

Weighted-

 

 

 

Weighted-

 

 

 

Number of

 

Contractual

 

Average

 

Number of

 

Average

 

Range of exercises

    

Shares

    

Term (Years)

    

Exercise Price

    

Shares

    

Exercise Price

    

$0.04$1.75

 

2,360,113

 

5.04

 

$

1.07

 

2,356,759

 

$

1.07

 

$2.90$3.70

 

2,683,361

 

6.09

 

 

3.58

 

2,146,702

 

 

3.58

 

$3.77$5.77

 

3,938,687

 

7.32

 

 

5.02

 

1,920,743

 

 

4.83

 

$6.20$9.87

 

2,374,992

 

8.56

 

 

7.73

 

695,741

 

 

7.76

 

$10.80$12.05

 

141,594

 

8.53

 

 

11.31

 

47,519

 

 

11.33

 

Outstanding at December 31, 2015

 

11,498,747

 

6.86

 

$

4.51

 

7,167,464

 

$

3.55

 

 

Schedule of Stock-based Compensation Expense Recognized (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

 

2015

 

2014

 

2013

 

Contra-revenue

    

$

 —

    

$

123

    

$

78

 

Cost of revenue

 

 

2,774

 

 

1,353

 

 

327

 

Research and development

 

 

10,607

 

 

5,980

 

 

5,238

 

Sales and marketing

 

 

9,508

 

 

5,930

 

 

1,893

 

General and administrative

 

 

5,902

 

 

3,363

 

 

931

 

Total

 

$

28,791

 

$

16,749

 

$

8,467

 

 

Schedule of Assumptions Used for Calculating the Fair Value of Employee Option Grants

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

 

2015

 

2014

 

2013

Expected dividend yield

    

 

    

Risk-free interest rate

 

1.6% - 1.8%

 

1.7% - 2.1%

 

1.1% - 1.9%

Expected volatility

 

43% - 45%

 

48% - 56%

 

52% - 53%

Expected life (in years)

 

5.5 - 6.1

 

5.6 - 6.5

 

5.9 - 6.3

 

Schedule of Assumptions Used for Calculating the Fair Value of Employee stock purchase plans

 

 

 

 

 

 

 

Year ended December 31,

 

 

2015

 

2014

Expected dividend yield

    

 

Risk-free interest rate

 

0.1% - 0.7%

 

0.1% - 0.5%

Expected volatility

 

34% - 35%

 

47% - 49%

Expected life (in years)

 

0.5 - 2

 

0.7 - 2.2

 

Schedule of Unrecognized Stock-based Compensation

 

 

 

 

 

 

 

 

Unrecognized

 

Remaining

 

 

Stock-based

 

Weighted-Average

 

 

Compensation

 

Recognition

 

 

Expense

 

Period

 

   

(in millions)

   

(in years)

Stock options

 

$

9.6

 

1.8

Restricted stock

 

 

40.1

 

3.2

ESPP

 

 

2.5

 

0.7

Total

 

$

52.2

 

 

 

Restricted Stock  
Schedule of Restricted Stock and RSU Activity

 

 

 

 

 

 

 

 

 

    

Restricted Stock

 

 

    

 

    

Time - and -

    

 

 

 

 

Time - based

 

performance based

 

Total

 

 

 

shares

 

shares

 

shares

 

Unvested, December 31, 2012

 

1,460,413

 

1,278,912

 

2,739,325

 

Granted

 

 

 

 

Vested

 

(573,695)

 

(247,010)

 

(820,705)

 

Unvested, December 31, 2013

 

886,718

 

1,031,902

 

1,918,620

 

Granted

 

16,294

 

 —

 

16,294

 

Vested

 

(491,313)

 

(586,204)

 

(1,077,517)

 

Cancelled/Forfeited

 

(350,440)

 

(413,152)

 

(763,592)

 

Unvested, December 31, 2014

 

61,259

 

32,546

 

93,805

 

Granted

 

 

 

 —

 

 —

 

Vested

 

(41,137)

 

(32,546)

 

(73,683)

 

Cancelled/Forfeited

 

(20,122)

 

 —

 

(20,122)

 

Unvested, December 31, 2015

 

 —

 

 —

 

 —

 

 

RSUs  
Schedule of Restricted Stock and RSU Activity

 

 

 

 

 

 

 

 

Restricted Stock Units

 

 

 

 

Weighted-

 

 

 

 

Average

 

 

Number of

 

Grant Date

 

   

Shares

   

Fair Value

Unvested, December 31, 2013

 

 —

 

$

 —

Granted

 

480,456

 

 

9.45

Vested

 

 —

 

 

 —

Cancelled/Forfeited

 

(1,667)

 

 

9.18

Unvested, December 31, 2014

 

478,789

 

$

9.45

Granted

 

9,932,561

 

 

6.92

Vested

 

(924,461)

 

 

 —

Cancelled/Forfeited

 

(1,653,927)

 

 

8.06

Unvested, December 31, 2015

 

7,832,962

 

$

6.66