5.Stockholders’ Equity

Stock-Based Compensation

As a result of stock-based compensation expense, our loss before income taxes increased by $1,120, or $(0.04) per basic and diluted share, and $1,003, or $(0.04) per basic and diluted share, as of March 31, 2015 and 2014, respectively.

Stock option and restricted stock unit (“RSU”) activity is summarized for the three months ended March 31, 2015 as follows:

	Stock Options				Restricted Stock Units
	Number of Shares		Weighted Average Exercise Price		Number of Shares		Weighted Average Grant Date Fair Value
Options/RSUs outstanding as of December 31, 2014	3,250,852		$	6.40	864,634		$	3.68
Granted	377,786		$	10.33	229,092		$	10.34
Cancelled/Forfeited	(22,871	)	$	15.16	(3,500	)	$	8.61
Exercised/Vested	(25,616	)	$	4.43	(358,115	)	$	3.12
Options/RSUs outstanding as of March 31, 2015	3,580,151		$	6.77	732,111		$	6.66

At March 31, 2015 and December 31, 2014, we had 284,423 performance share units (“PSUs”) outstanding. There were no grants, forfeitures or vesting of PSUs during the quarter ended March 31, 2015. Stock compensation expense will only be recognized once the performance conditions of the outstanding PSUs are deemed probable of achievement. For the quarter ended March 31, 2015, no stock compensation expense has been recognized as achievement of the performance conditions has been deemed not probable. The grant date value per PSU is $8.68.

Employee Stock Purchase Plan

In 2015, 122,817 shares were purchased in accordance with the Employee Stock Purchase Plan (ESPP). Net proceeds from the issuance of shares of common stock under the ESPP for the three months ended March 31, 2015 were $498. In January 2015, the number of shares available for grant was increased by 267,240, per the ESPP documents. At March 31, 2015, approximately 572,574 shares remain available for purchase under the ESPP.