8. Common Stock

The Certificate of Incorporation, as amended, authorizes the Company to issue 50,000,000 shares of common stock. Common stockholders are entitled to dividends as and when declared by the Board of Directors, subject to the rights of holders of all classes of stock outstanding having priority rights as to dividends. There have been no dividends declared to date. The holder of each share of common stock is entitled to one vote.

The Company had reserved shares of common stock for future issuances as follows:

	December 31,
	2015		2014
Issuance of equity based awards under stock plan		1,350,543		991,401
Issuance upon exercise of options under stock plan		3,240,969		2,723,366
Issuance of restricted stock units under stock plan		254,067		185,514
Total		4,845,579		3,900,281

In January 2015, the Company completed a secondary public offering of common stock, pursuant to which the Company issued 4,999,999 shares of common stock, which includes shares issued pursuant to the underwriters’ exercise of their over-allotment option, and received net proceeds of approximately $80.2 million, after underwriting discounts, commissions and estimated offering expenses.