Accounting for stock-based compensation

9 Months Ended

Sep. 30, 2015

10. Accounting for stock-based compensation

Total stock-based compensation expense recognized in the accompanying condensed consolidated statements of operations for the three and nine months ended September 30, 2015 and 2014 was as follows (in thousands):


	Three months ended September 30,					Nine months ended September 30,
	2015		2014			2015		2014
Stock-based compensation	$	2,600	$	(4,827	)	$	6,378	$	46,755

During the three months ended March 31, 2015, the Company issued stock awards to employees with a four-year vesting schedule. The grant date fair value of the 36,300 restricted stock units and 73,600 stock options issued was $262,086 and $382,720, respectively, with a grant date fair value per share of $7.22 and $5.20, respectively.

During the three months ended June 30, 2015, the Company issued stock awards to employees with a four-year vesting schedule. The grant date fair value of the 194,704 restricted stock units and 208,000 stock options issued was $901,480 and $603,802 respectively, with a grant date fair value per share of $4.63 and $2.90, respectively.

During the three months ended September 30, 2015, the Company issued stock awards to employees with a four-year vesting schedule. The grant date fair value of the 897,300 restricted stock units and 1,200,900 stock options issued was $3,508,443 and $2,910,767, respectively, with a grant date fair value per share of $3.91 and $2.42, respectively.

As of September 30, 2015, there was $7.9 million and $8.6 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 2.9 years.