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Stock-Based Compensation

9 Months Ended

Sep. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

Note 7—Stock-Based Compensation

Stock-Based Compensation Expense

Stock-based compensation expense recorded in the condensed consolidated statements of operations was as follows (in thousands):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2018				2017				2018				2017
Platform operations		$	1,234			$	818			$	3,137			$	1,543
Sales and marketing			3,033				1,500				7,757				3,277
Technology and development			4,013				1,990				8,905				3,981
General and administrative			3,137				1,585				8,159				3,605
Total		$	11,417			$	5,893			$	27,958			$	12,406

Stock Options

The following summarizes stock option activity:

		Shares Under Option (in thousands)				Weighted- Average Exercise Price
Outstanding as of December 31, 2017			4,745			$	17.96
Granted			1,253				59.61
Exercised			(1,110	)			6.46
Cancelled			(59	)			44.31
Outstanding as of September 30, 2018			4,829			$	31.09
Exercisable as of September 30, 2018			2,016			$	12.36

On January 1, 2018, the number of shares authorized for grant under the Company’s 2016 Incentive Award Plan was increased by 1.7 million shares in accordance with plan provisions.

Restricted Stock and Restricted Stock Units (“Restricted Stock”)

The following summarizes Restricted Stock activity:

		Shares (in thousands)				Weighted- Average Grant Date Fair Value
Unvested as of December 31, 2017			418			$	39.95
Granted			126				57.04
Vested			(43	)			40.92
Forfeited			—				—
Unvested as of September 30, 2018			501			$	44.17

Employee Stock Purchase Plan (“ESPP”)

Stock-based compensation expense related to the ESPP totaled $4.4 million and $3.2 million for the three months ended September 30, 2018 and 2017, respectively. Stock-based compensation expense related to the ESPP totaled $11.0 million and $6.1 million for the nine months ended September 30, 2018 and 2017, respectively.

On January 1, 2018, the number of shares available for issuance under the Company’s Employee Stock Purchase Plan was increased by 0.4 million shares in accordance with plan provisions.

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- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-URI http://asc.fasb.org/subtopic&trid=2208855

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