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Share Based Awards (Tables)
3 Months Ended
Mar. 31, 2020
Share Based Awards  
Schedule of restricted stock unit activity

 

 

 

 

 

 

 

 

 

Restricted Stock Units

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Number of

 

Grant Date

 

 

    

Shares

    

Fair Value

 

Unvested, December 31, 2019

 

12,639,066

 

$

5.20

 

Granted

 

3,200,982

 

 

4.04

 

Vested

 

(3,001,189)

 

 

4.60

 

Forfeitures

 

(533,623)

 

 

4.67

 

Unvested, March 31, 2020

 

12,305,236

 

$

5.07

 

 

Schedule of PSU activity

 

 

 

 

 

 

 

 

Performance Stock Units

 

 

 

 

Weighted-

 

 

 

 

Average

 

 

Number of

 

Grant Date

 

    

Shares

    

Fair Value

Unvested, December 31, 2019

 

 —

 

$

n/a

Granted

 

1,005,000

 

 

3.27

Vested

 

 —

 

 

n/a

Forfeitures

 

 —

 

 

n/a

Unvested, March 31, 2020

 

1,005,000

 

$

3.27

 

Schedule of stock option activity under the 2008 Plan, 2014 Plan and 2015 Inducement Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Options Outstanding

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Number of

 

 

 

 

 

 

Average

 

Aggregate

 

 

 

Shares

 

 

 

Weighted-

 

Remaining

 

Intrinsic

 

 

 

Available

 

Number of

 

Average

Contractual

 

Value

 

 

 

for Issuance

 

Shares

    

Exercise Price

    

Term (Years)

    

(In thousands)

  

Balance—December 31, 2019

 

1,301,881

 

2,898,977

 

$

5.17

 

4.89

 

$

1,556

 

Authorized

 

5,636,269

 

 —

 

 

 

 

 

 

 

 

 

Stock options granted

 

 —

 

 —

 

 

 

 

 

 

 

 

 

Issuance of shares under Bonus Plans

 

(1,730,682)

 

 —

 

 

 

 

 

 

 

 

 

Shares withheld from net settlement of restricted stock units

 

738,233

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units granted

 

(1,470,300)

 

 —

 

 

 

 

 

 

 

 

 

Performance stock units granted

 

(1,005,000)

 

 —

 

 

 

 

 

 

 

 

 

Exercised

 

 —

 

(29,797)

 

 

3.93

 

 

 

 

 

 

Stock options canceled

 

71,058

 

(71,058)

 

 

5.41

 

 

 

 

 

 

Restricted stock units canceled

 

533,623

 

 —

 

 

 

 

 

 

 

 

 

Balance—March 31, 2020

 

4,075,082

 

2,798,122

 

$

5.18

 

4.50

 

$

472

 

Vested and exercisable—March 31, 2020

 

 

 

2,432,496

 

$

5.28

 

3.93

 

$

468

 

Vested and expected to vest(1)—March 31, 2020

 

 

 

2,739,242

 

$

5.19

 

4.42

 

$

472

 

 

(1)

Options expected to vest reflect an estimated forfeiture rate.

Schedule of stock-based compensation expense recognized

 

 

 

 

 

 

 

 

    

Three Months Ended

 

 

March 31, 

 

    

2020

    

2019

Cost of revenue

 

$

898

 

$

1,541

Research and development

 

 

3,059

 

 

4,111

Sales and marketing

 

 

2,073

 

 

2,274

General and administrative

 

 

1,543

 

 

2,364

Total

 

$

7,573

 

$

10,290

 

Schedule of assumptions used to estimate fair value of stock options granted to employees

 

 

 

 

 

 

 

    

Three Months Ended

 

 

 

March 31, 

 

 

 

2020

    

2019

 

Expected dividend yield

 

n/a

 

 —

 

Risk-free interest rate

 

n/a

 

2.5%

 

Expected volatility

 

n/a

  

50%

 

Expected life (in years)

 

n/a

 

6.1

 

 

Schedule of assumptions used to estimate the fair value of Employee Stock Purchase Plan awards

 

 

 

 

 

 

    

Three Months Ended

 

 

March 31, 

 

 

2020

    

2019

Expected dividend yield

 

 —

 

 —

Risk-free interest rate

 

1.5%

 

2.5%

Expected volatility

 

45%

 

42%

Expected life (in years)

 

1.3

 

1.3

 

Schedule of unrecognized stock-based compensation expense and its remaining weighted-average recognition period

 

 

 

 

 

 

 

 

Unrecognized

 

Remaining

 

 

Stock-based

 

Weighted-Average

 

 

Compensation

 

Recognition

 

 

Expense

 

Period

 

   

(in millions)

   

(in years)

Stock options

 

$

0.7

 

2.3

Restricted stock units

 

 

45.8

 

2.7

Performance stock units

 

 

2.3

 

2.1

ESPP

 

 

3.2

 

1.9

Total

 

$

52.0