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Stock Based Compensation (Tables)
12 Months Ended
Jan. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Common and Preferred Stock Incentive Plans

The Company’s common and preferred stock incentive plans are summarized as follows (the table reflects options for preferred stock on an as converted to common stock basis):

 

Plan

  Authorized and
Reserved
    Outstanding
January 31,
2014
    Available to
Issue
 

1999 Series G Convertible Preferred Nonqualified Stock Option Plan (1)

    384,615        2,820        —     

2005 Series G Convertible Preferred Stock Incentive Plan (1)

    1,846,153        1,278,627        —     

2007 Stock Incentive Plan (1)

    1,076,923        810,788        —     

2011 Stock Incentive Plan

    769,230        287,876 (2)      480,979   
 

 

 

   

 

 

   

 

 

 
    4,076,921        2,380,111        480,979   
 

 

 

   

 

 

   

 

 

 

 

(1) Effective upon the consummation of its initial public offering on July 3, 2012, the Company ceased issuing awards under any plan other than its 2011 Stock Incentive Plan.
(2) Outstanding awards include 5,224 restricted stock units granted for the first time in September 2013 to certain members of the board of directors, which will fully vest in June 2014.
Fair Value of Stock Option Awards

The fair value of stock option awards was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

 

     Years Ended January 31,  
     2014     2013     2012  

Expected life (years)

     6.25        6.25        6.48   

Risk-free interest rate

     2.21     1.09     2.11

Expected volatility

     50.6     51.6     56.7

Expected dividend yield

     0.0     0.0     0.0
Changes in Common and Preferred Stock Options Issued

A summary of the changes in common and preferred stock options issued under all of the existing stock option plans is as follows (the table reflects options for preferred stock on an as converted to common stock basis):

 

     Year Ended January 31, 2014                
     Number of 
Options
    Weighted
Average
Exercise Price
     Weighted Average
Remaining Contractual
Term (in years)
     Aggregate
Intrinsic
Value (1)
 

Outstanding—beginning of period

     2,307,280      $ 4.58         

Granted

     184,728        13.36         

Exercised

     (73,167     3.46         

Cancelled

     (43,954     10.49         
  

 

 

         

Outstanding—end of period

     2,374,887      $ 5.19         4.2       $ 21,137   
  

 

 

         

Exercisable—end of period

     1,855,542      $ 3.30         3.0       $ 19,999   
  

 

 

         

Vested or Expected to Vest—end of period

     2,317,942      $ 5.02         4.1       $ 21,009   
  

 

 

         

 

(1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s stock on January 31, 2014 and the exercise price of the underlying options.
Summarizes Information Relating to Stock Options Granted and Exercised

The following table summarizes information relating to stock options granted and exercised:

 

     Years Ended January 31  
     2014      2013      2012  

Weighted average fair value of options granted

   $ 6.80       $ 5.39       $ 6.37   

Aggregate intrinsic value of options exercised (1)

     528         287         285   

 

(1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s stock at exercise and the exercise price of the underlying options.
Stock-Based Compensation Expense

Total stock-based compensation expense was recorded within the consolidated statement of operations for the fiscal years ended January 31, 2014, 2013 and 2012 as follows:

 

     Years Ended January 31  
     2014      2013      2012  

Cost of revenues

   $ 137       $ 111       $ 79   

Sales and marketing

     239         190         119   

Research and development

     376         308         227   

General and administrative

     458         315         211   
  

 

 

    

 

 

    

 

 

 

Total

   $ 1,210       $ 924       $ 636