XML 49 R32.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stockholers' Equity (Tables)
12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Schedule of Stockholders Equity The table below presents a summary, as of December 31, 2017, of our authorized and outstanding common stock, and securities convertible into common stock, excluding options issued under our 2014 Omnibus Incentive Plan.
Security1
 
Par Value Per Share
Number Authorized
Number Outstanding
Description
Class A common stock
 
$
0.01

300,000,000
13,819,639
One vote per share.
Class B common stock
 
$
0.01

50,000,000
3,022,484
10 votes per share.2
Class C common stock
 
$
0.01

50,000,000
1,636,341
No votes.2
Warrants
 
 
 
8,977,676
Each warrant is exercisable for one share of Class A common stock, at an exercise price of $0.0001 per share. The aggregate exercise price for all warrants currently outstanding is $898.3
Total
 
 
400,000,000
27,456,140
 
1 Each of the shares of common stock, including the shares of Class A common stock issuable upon exercise of the warrants, have equal economic rights.
2 Each share converts into one share of Class A common stock upon transfer or at the option of the holder, subject to certain conditions, including compliance with FCC rules.
3 The warrants are fully vested and exercisable for shares of Class A common stock, subject to certain conditions, including compliance with FCC rules.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The below table summarizes the assumptions used to estimate the fair value of the equity options granted:
 
2015
 
2016
 
2017
Expected volatility
30% - 40%

 
30.0
%
 
40.0
%
Expected term
6.3 years

 
4.25 - 6.33 years

 
4.25 years

Risk free interest rate
1.8% - 2.1%

 
1.4% - 1.7%

 
2.1
%
Expected dividend yield
0.0
%
 
0.0
%
 
0.0
%
Schedule of Share-based Compensation, Stock Options, Activity The following table summarizes stock option activity for the year ended December 31, 2017:
 
Options
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Life (years)
 
Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2016
8,653,712

 
$
9.51

 
7.06
 
$
7,805

  Granted
150,000

 
9.03

 
 
 
 
  Exercised
(35,914
)
 
9.63

 
 
 
 
  Forfeited and expired
(223,573
)
 
9.45

 
 
 
 
Outstanding at December 31, 2017
8,544,225

 
9.50

 
6.11
 

Exercisable at December 31, 2017
6,914,225

 
$
9.63

 
6.63
 
$