8.	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 June 30, 2016, there were 562 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 9, 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.

A summary of stock option activity follows:


	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		(45	)	$	12.69

Outstanding, June 30, 2016		1,252		$	6.82		5.2	$	2,715

Exercisable, June 30, 2016		917		$	7.15		3.9	$	2,071

Expected to vest, June 30, 2016		1,251		$	6.82		5.2	$	2,712

Stock-based compensation expense for stock options was $146 and $292 during the three and six months ended June 30, 2016, respectively, as compared to $160 and $317 during the three and six months ended June 30, 2015, respectively.

As of June 30, 2016, total unrecognized stock-based compensation expense related to outstanding stock options was $929, which will be recognized over a weighted average period of 1.8 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.

A summary of restricted stock, restricted stock unit and performance-based stock unit activity follows:


	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		(398	)	$	4.38
Forfeited		(5	)	$	5.07

Outstanding, June 30, 2016		959		$	5.29		2.0	$	2,452

Expected to vest, June 30, 2016		799		$	5.25		2.0	$	2,082

(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 $729 and $1,278 during the three and six months ended June 30, 2016, respectively, as compared to $594 and $1,080 during the three and six months ended June 30, 2015, respectively.

During the three and six months ended June 30, 2016, the total fair value of other stock awards vested was $1,647 and $2,654, respectively.

As of June 30, 2016, total unrecognized stock-based compensation expense related to outstanding restricted stock and restricted stock units was $3,316, which will be recognized over a weighted average period of 1.9 years. As of June 30, 2016, maximum unrecognized stock-based compensation expense related to outstanding performance-based stock units was $442 to be recognized over a weighted average period of 2.5 years.

We also recorded $26 and $52 of stock-based compensation expense related to our Amended and Restated 1997 Employee Stock Purchase Plan during the three and six months ended June 30, 2016, respectively, as compared to $21 and $38 during the three and six months ended June 30, 2015, respectively.

Accumulated Other Comprehensive (Loss) Income

A summary of the changes in the balances of each component of accumulated other comprehensive (loss) income, net of tax follows:


	Marketable Securities
Balance as of December 31, 2015	$	7
Other comprehensive loss before reclassifications		(39	)
Amounts reclassified from accumulated other comprehensive loss		—

Net current-period other comprehensive loss		(39	)

Balance as of June 30, 2016	$	(32	)