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Stock-based Compensation | 9 Months Ended
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Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-based Compensation | Stock-based Compensation Equity Incentive Plans 2012 Equity Incentive Plan Under the 2012 Equity Incentive Plan (the "2012 Plan"), the Company is authorized to grant to eligible participants incentive stock options (“ISOs”), non-statutory stock options (“NSOs”), stock appreciation rights ("SARs"), restricted stock awards ("RSAs"), restricted stock units ("RSUs"), performance units and performance shares equivalent to up to 9,861,234 shares of common stock. Options may be granted with an exercise price that is at least equal to the fair market value of the Company's stock at the date of grant and are exercisable when vested. As of September 30, 2017, 2,325,200 shares were available for grant under the 2012 Plan. 2000 Equity Incentive Plan Under the 2000 Equity Incentive Plan (the "2000 Plan"), the Company was authorized to grant to eligible participants either ISOs or NSOs. The 2000 Plan was terminated in connection with the closing of the initial public offering ("IPO"), and accordingly, no shares are currently available for grant under the 2000 Plan. The 2000 Plan continues to govern outstanding awards granted thereunder. Stock-based compensation The following table shows a summary of the stock-based compensation expense included in the condensed consolidated statements of operations for the three and nine months ended September 30, 2017 and 2016.
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
| (in thousands)
Cost of revenues | $ | 532 |  |  | $ | 516 |  |  | $ | 1,569 |  |  | $ | 1,318 |
Research and development | 1,503 |  |  | 1,585 |  |  | 4,229 |  |  | 4,373 |
Sales and marketing | 1,231 |  |  | 821 |  |  | 3,444 |  |  | 3,459 |
General and administrative | 4,477 |  |  | 2,181 |  |  | 9,280 |  |  | 5,972 |
Total stock-based compensation | $ | 7,743 |  |  | $ | 5,103 |  |  | $ | 18,522 |  |  | $ | 15,122 |
As of September 30, 2017, the Company had $18.2 million of total unrecognized compensation cost related to unvested option awards that it expects to recognize over a weighted-average period of 2.5 years, and $31.9 million of unrecognized compensation cost related to unvested RSUs that it expects to recognize over a weighted-average period of 2.8 years. Compensation cost is recognized on a straight-line basis over the service period. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Stock Option Plan Activity A summary of the Company’s stock option activity is as follows:
| Outstanding Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
|  |  |  |  |  |  | (in thousands)
December 31, 2016 | 7,527,680 |  |  | $ | 19.25 |  |  | 6.0 |  | $ | 101,717 |
Granted | 338,725 |  |  | $ | 38.40 |  |  |  |  |
Exercised | (2,364,523 | ) |  | $ | 10.38 |  |  |  |  |
Canceled | (347,573 | ) |  | $ | 33.72 |  |  |  |  |
September 30, 2017 | 5,154,309 |  |  | $ | 23.60 |  |  | 6.6 |  | $ | 145,402 |
Vested and expected to vest - September 30, 2017 | 4,852,064 |  |  | $ | 23.05 |  |  | 6.5 |  | $ | 139,543 |
Exercisable - September 30, 2017 | 3,458,555 |  |  | $ | 19.94 |  |  | 5.6 |  | $ | 110,203 |
Restricted Stock A summary of the Company’s RSU and RSA activity is as follows:
| Outstanding RSUs and RSAs |  | Weighted Average Grant Date Fair Value Per Share
December 31, 2016 | 587,333 |  |  | $ | 28.85 |
Granted | 934,439 |  |  | $ | 38.53 |
Released | (239,222 | ) |  | $ | 32.15 |
Canceled | (106,522 | ) |  | $ | 31.80 |
September 30, 2017 | 1,176,028 |  |  | $ | 35.60 |
Outstanding and expected to vest - September 30, 2017 | 1,010,848 |  |  | $ | 35.58 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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