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Stock option plan and stock-based compensation | 9 Months Ended
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Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock option plan and stock-based compensation | Stock option plan and stock-based compensation During 2003, the Company’s Board of Directors (the "Board") established the 2003 Stock Plan, as amended (the “2003 Plan”). As of June 30, 2018, there were 89,000,000 shares authorized under the 2003 Plan and 1,799,258 shares were reserved for future issuance. As of September 30, 2017, there were 85,000,000 shares authorized under the 2003 Plan, and 2,088,004 shares were reserved for future issuance. The 2003 Plan includes incentive stock options that are subject to the rules and regulations of the Internal Revenue Code of 1986, as amended (the "Code"), and nonqualified stock options. The option price, number of shares and grant date are determined at the discretion of the Board. As long as the optionholder performs services for the Company, the options generally vest over 48 months, with cliff vesting after one year and monthly vesting thereafter. All options are exercisable for a period not to exceed ten years from the date of grant. In July 2018, the Board adopted the 2018 Equity Incentive Plan (the "2018 Plan") and ceased granting awards under the 2003 Plan. The 2018 Plan became effective in connection with the IPO. The Company reserved 21,200,000 shares of its common stock for issuance under the 2018 Plan. Any remaining shares available for issuance under the 2003 Stock Plan on the effective date of the 2018 Plan were added to the shares of common stock reserved for issuance under the 2018 Plan. Stock option activity was as follows:
| Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Weighted Average Intrinsic Value
|  |  |  |  | (in years) |  | (in thousands)
Outstanding at September 30, 2017 | 45,817,252 |  |  | $ | 9.20 |  |  | 6.9 |  | $ | 199,663 |
Granted | 7,676,414 |  |  | $ | 15.09 |  |  |  |  |
Exercised | (1,735,750 | ) |  | $ | 3.31 |  |  |  |  |
Forfeited | (3,387,668 | ) |  | $ | 13.05 |  |  |  |  |
Outstanding at June 30, 2018 | 48,370,248 |  |  | $ | 10.08 |  |  | 6.7 |  | $ | 243,060 |
At June 30, 2018 |  |  |  |  |  |  |
Options exercisable | 30,582,952 |  |  | $ | 7.70 |  |  | 5.4 |  | $ | 226,453 |
Options vested and expected to vest | 45,413,361 |  |  | $ | 9.80 |  |  | 6.6 |  | $ | 240,964 |
As of June 30, 2018 and September 30, 2017, the Company had $73.5 million and $74.9 million, respectively, of unrecognized stock-based compensation expense which is expected to be recognized over a weighted-average period of 2.7 and 2.8 years, respectively. The Company’s policy for issuing stock upon stock option exercise is to issue new common stock. Total stock-based compensation expense by function category was as follows:
| Three Months Ended |  | Nine Months Ended
| June 30, 2018 |  | July 1, 2017 |  | June 30, 2018 |  | July 1, 2017
(In thousands) |  |  |  |  |  |  |
Cost of revenue | $ | 49 |  |  | $ | 65 |  |  | $ | 156 |  |  | $ | 179 |
Research and development | 3,651 |  |  | 3,529 |  |  | 10,417 |  |  | 10,136 |
Sales and marketing | 4,391 |  |  | 3,899 |  |  | 12,414 |  |  | 11,172 |
General and administrative | 2,242 |  |  | 2,045 |  |  | 6,410 |  |  | 5,474 |
Total stock-based compensation expense | $ | 10,333 |  |  | $ | 9,538 |  |  | $ | 29,397 |  |  | $ | 26,961 |

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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 + Details
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