7.	STOCKHOLDERS’ EQUITY

Stock Based Compensation

Shares Available For Issuance

In the fiscal year ended April 30, 2007, we adopted the 2006 Stock Incentive Plan (“2006 Plan”). The 2006 Plan was amended in the fiscal year ended April 30, 2010. Under the 2006 Plan, we may grant awards up to an aggregate amount of shares equal to the sum of: (i) 2,475 shares of Class A common stock (subject to adjustment in the event of stock splits and other similar events), plus (ii) such additional number of shares of Class A common stock as were subject to stock options granted under our 1993 Incentive Stock Option Plan, 1994 Non-statutory Stock Option Plan, 1996 Stock Option Plan, and 1997 Stock Incentive Plan (“Prior Plans”), which were not actually issued under the Prior Plans because such stock options expire or otherwise result in shares not being issued. As of March 31, 2016, there were 546 Class A common stock equivalents available for future grant under the 2006 Plan, inclusive of additional Class A common stock equivalents that were previously issued under our terminated plans and have become available for grant because such awards expired or otherwise resulted in shares not being issued. No awards may be granted under the 2006 Plan after October 10, 2016 and accordingly we expect to implement a new stock incentive plan which would be recommended to stockholders for approval at the 2016 Annual Meeting of Stockholders.

Stock Options

Stock options granted under the 2006 Plan are granted at a price equal to the prevailing fair market value of our Class A common stock at the date of grant. Generally, stock options granted have a term not to exceed ten years and vest over a one to four year period from the date of grant.

The following table summarizes stock option activity:


	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding, December 31, 2015		1,297		$	7.03
Granted		—		$	—
Exercised		—		$	—
Forfeited		(30	)	$	11.24

Outstanding, March 31, 2016		1,267		$	6.93		5.4	$	1,717

Exercisable, March 31, 2016		932		$	7.29		4.1	$	1,388

Expected to vest, March 31, 2016		1,266		$	6.93		5.4	$	1,715

Stock-based compensation expense for stock options was $146 during the three months ended March 31, 2016, as compared to $157 during the three months ended March 31, 2015.

As of March 31, 2016, total unrecognized stock-based compensation expense related to outstanding stock options was $1,078, which will be recognized over a weighted average period of 2.1 years.

Other Stock Awards

We grant restricted stock awards, restricted stock units and performance-based stock units under the 2006 Plan at a price equal to the fair market value of our Class A common stock at the date of grant. Restricted stock awards granted to non-employee directors vest incrementally over a three year period beginning on the first anniversary of the date of grant. Restricted stock units vest incrementally over an identified service period beginning on the grant date based on continued employment. Performance-based stock units vest at a future date following the grant date and are based on the attainment of certain performance targets.

The following table summarizes restricted stock, restricted stock unit and performance-based stock unit activity:


	Restricted Stock, Restricted Stock Units, and Performance-Based Stock Units (1)			Weighted Average Grant Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding, December 31, 2015		962		$	4.49
Granted		400		$	6.32
Class A Common Stock Vested		(180	)	$	4.19
Forfeited		(4	)	$	4.74

Outstanding, March 31, 2016		1,178		$	5.16		2.0	$	1,798

Expected to vest, March 31, 2016		986		$	5.09		1.9	$	1,584

(1)	Performance-based stock units are included at the 100% attainment level. Attainment of the maximum performance targets could result in the issuance of an additional 43 shares of Class A common stock.

Stock-based compensation expense related to restricted stock, restricted stock units and performance-based stock units was $550 during the three months ended March 31, 2016, as compared to $486 during the three months ended March 31, 2015.

During the three months ended March 31, 2016, the total fair value of other stock awards vested was $1,006.

As of March 31, 2016, total unrecognized compensation expense related to outstanding restricted stock and restricted stock units was $3,839, which will be recognized over a weighted average period of 1.9 years. Maximum unrecognized stock-based compensation expense as of March 31, 2016 related to outstanding performance-based stock units was $451 to be recognized over a weighted average period of 2.8 years.

We also recorded $26 of stock-based compensation expense related to our Amended and Restated 1997 Employee Stock Purchase Plan during the three months ended March 31, 2016, as compared to $17 during the three months ended March 31, 2015.

Accumulated Other Comprehensive (Loss) Income

The changes in the balances of each component of accumulated other comprehensive (loss) income are as follows:


	Marketable Securities
Balance as of December 31, 2015	$	7
Other comprehensive loss before reclassifications		(83	)
Amounts reclassified from accumulated other comprehensive loss		—

Net current-period other comprehensive loss		(83	)

Balance as of March 31, 2016	$	(76	)