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Accounting for stock-based compensation
 3 Months Ended
Mar. 31, 2014
Accounting for stock-based compensation

3. Accounting for stock-based compensation

Total stock-based compensation expense recognized in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2014 and 2013 was as follows (in thousands):

 

     Three months ended
March 31,		  
     2014      2013  

Stock-based compensation

    $ 10,937       $ 5,189   
  

 

 

     

 

 

  

The Company issued stock awards to employees during the three months ended March 31, 2014 with a four-year vesting schedule. The grant date fair value of the 46,400 restricted stock units and 17,700 stock options issued was $296,000 and $81,000, respectively, with a grant date fair value per share of $6.39 and $4.58, respectively.

 

As of March 31, 2014, there was $9.9 million and $14.0 million of unrecognized compensation cost related to options and restricted stock units, respectively, which are expected to be recognized over the remaining weighted average vesting period of 1.85 years. The Company evaluates stock awards with performance conditions as to the probability that the performance conditions will be met and estimates the date at which the performance conditions will be met in order to properly recognize stock-based compensation expense over the requisite service period. As of March 31, 2014, there were $107,000 and $3.7 million of unrecognized expenses related to performance options and restricted stock units, respectively, for milestones not considered probable of achievement.