XML 19 R25.htm IDEA: XBRL DOCUMENT v3.3.0.814
STOCK PLANS AND SHARE-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-based Compensation Expense
The following table summarizes the stock-based compensation expense recognized in accordance with ASC 718-10 for the three and nine months ended September 30, 2015, and September 30, 2014:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(In thousands)
2015

2014
 
2015
 
2014
Cost of revenues
$
219

 
$
131

 
$
725

 
$
648

Research and development
1,277

 
971

 
3,974

 
3,522

Sales and marketing
877

 
779

 
2,767

 
2,578

General and administrative
988

 
699

 
4,036

 
3,922

Total stock-based compensation expense
$
3,361

 
$
2,580

 
$
11,502

 
$
10,670
Schedule of Unrecognized Compensation Expense for Unvested Awards
The following table summarizes total compensation expense related to unvested awards not yet recognized, net of expected forfeitures, and the weighted-average period over which it is expected to be recognized as of September 30, 2015:
 
September 30, 2015
 
Unrecognized
Compensation
Expense for Unvested
Awards
(in thousands)
 
Weighted Average
Remaining
Recognition
Period
(in years)
Options
$
296

 
0.57
Performance-based awards
189

 
0.25
Long-term performance-based awards
606

 
1.81
Restricted stock unit awards
24,049

 
2.46
Purchase plan
434

 
0.34
Total unrecognized compensation expense
$
25,574

 
 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair value of employees’ stock purchase rights under the Purchase Plan was estimated using the Black-Scholes model with the following weighted-average assumptions:        

Three Months Ended

Nine Months Ended
 
September 30,

September 30,
 
2015

2014

2015

2014
Risk-free interest rate
0.17%

0.05%

0.13%

0.05
%
-
0.07%
Expected volatility rate
26%

48%

29%

30
%
-
48%
Expected dividend yield
1.20%

0.85%

1.08%

0.66
%
-
0.85%
Expected term of purchase right (in years)
0.5

0.5

0.5

0.5
Weighted-average estimated fair value of purchase rights
$8.41

$15.25

$10.18

$14.40

    
Summary of Option Activity Under the Plans
A summary of stock option activity under the Plans, excluding PSUs, PRSUs and RSUs, as of September 30, 2015, and changes during the nine months then ended, is presented below:
 
Shares
(in thousands)
 
Weighted-
Average
Exercise
Price
 
Weighted-Average
Remaining
Contractual
Term
(in years)
 
Aggregate
Intrinsic Value
(in thousands)
Outstanding at January 1, 2015
1,344

 
$27.27
 
 
 
 
Granted
—

 
—

 
 
 
 
Exercised
(96
)
 
$25.29
 
 
 
 
Forfeited or expired
(2
)
 
$37.97
 
 
 
 
Outstanding at September 30, 2015
1,246

 
$27.39
 
2.91
 
$
18,463

Exercisable at September 30, 2015
1,228

 
$27.17
 
2.86
 
$
18,463

Vested and expected to vest at September 30, 2015
1,246

 
$27.39
 
2.91
 
$
18,463
Performance Based Awards (PSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of PSUs outstanding as of September 30, 2015, and activity during the nine months then ended, is presented below:
 
Shares
(in thousands)
 
Weighted- Average Grant Date Fair Value Per Share
 
Weighted-Average Remaining Contractual Term
(in years)
 
Aggregate Intrinsic Value
(in thousands)
Outstanding at January 1, 2015
—

 
—

 
 
 
 
Granted
88

 
$52.39
 
 
 
 
Vested
—

 
—

 
 
 
 
Change in units due to performance achievement for PSUs vested in the year
—

 
—

 
 
 
 
Forfeited or expired
(1
)
 
$50.79
 
 
 
 
Outstanding at September 30, 2015
87

 
$52.41
 
0.25
 
$
3,684

Outstanding and expected to vest at September 30, 2015
12

 
 
 
0.25
 
$
516
Long-Term Performance-based Awards (PRSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of PRSUs outstanding as of September 30, 2015, and activity during the nine months then ended, is presented below:
 
Shares
(in thousands)
 
Weighted- Average Grant Date Fair Value Per Share
 
Weighted-Average Remaining Contractual Term
(in years)
 
Aggregate Intrinsic Value
(in thousands)
Outstanding at January 1, 2015
61

 
$55.51
 
 
 
 
Granted
72

 
$52.47
 
 
 
 
Vested
—

 
—

 
 
 
 
Forfeited or expired
(4
)
 
$57.76
 
 
 
 
Outstanding at September 30, 2015
129

 
$53.75
 
1.81
 
$
5,427

Outstanding and expected to vest at September 30, 2015
17

 
 
 
1.79
 
$
724
Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of RSUs outstanding as of September 30, 2015, and changes during the nine months then ended, are as follows: 
 
Shares
(in thousands)
 
Weighted- Average Grant Date Fair Value Per Share
 
Weighted-Average Remaining Contractual Term
(in years)
 
Aggregate Intrinsic Value
(in thousands)
Outstanding at January 1, 2015
692

 
$43.86
 
 
 
 
Granted
302

 
$49.90
 
 
 
 
Vested
(257
)
 
$42.49
 
 
 
 
Forfeited or expired
(48
)
 
$45.55
 
 
 
 
Outstanding at September 30, 2015
689

 
$46.90
 
1.46
 
$
29,073

Outstanding and expected to vest at September 30, 2015
636

 
 
 
1.40
 
$
26,804