XML 60 R20.htm IDEA: XBRL DOCUMENT v3.3.0.814
Equity Award Plans (Tables)
 9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock-based Compensation
The following is a summary of stock-based compensation for stock-based awards granted under the 2014 Plan, the 2008 Plan, and employee stock purchases under the 2014 Purchase Plan recognized during the three and nine months ended September 30, 2015 and 2014 (in thousands):

 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
Stock-based compensation by type of award:
 
 
 
 
 
 
 
Stock options
$
1,347

 
$
1,615

 
$
4,326

 
$
5,012

Restricted stock units
2,412

 
929

 
6,477

 
965

Employee stock purchase plan
849

 
994

 
2,443

 
2,337

Total stock-based compensation
$
4,608

 
$
3,538

 
$
13,246

 
$
8,314

 
 
 
 
 
 
 
 
Stock-based compensation by category of expense:
 
 
 
 
 
 
 
Cost of revenue
$
428

 
$
277

 
$
1,241

 
$
578

Sales and marketing
2,093

 
1,700

 
6,032

 
4,041

Research and development
1,489

 
1,139

 
4,347

 
2,546

General and administrative
598

 
422

 
1,626

 
1,149

 
$
4,608

 
$
3,538

 
$
13,246

 
$
8,314
Summary of Activity under Stock Option Plans
The following table summarizes our stock option activity and related information as of and for the nine months ended September 30, 2015 (in thousands, except for years and per share amounts):

 
Number of Shares Underlying Outstanding Options
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term (Years)
 
Aggregate Intrinsic Value
Outstanding as of December 31, 2014
11,084

 
$
5.18

 
7.9
 
 
Granted
408

 
$
4.84

 
 
 
 

Exercised
(535
)
 
$
2.93

 
 
 
 

Canceled (1)
(922
)
 
$
7.27

 
 
 
 

Outstanding as of September 30, 2015
10,035

 
$
5.10

 
7.4
 
$
17,394

Vested and expected to vest as of September 30, 2015
9,633

 
$
5.06

 
7.3
 
$
16,950

Vested and exercisable as of September 30, 2015
5,592

 
$
4.27

 
6.3
 
$
13,179
Stock Option Information
The following table provides information pertaining to our stock options for the nine months ended September 30, 2015 and 2014 (in thousands, except weighted-average fair values):

 
Nine Months Ended 
 September 30,
 
2015
 
2014
Total fair value of options granted
$
869

 
$
7,536

Weighted average fair value of options granted
$
2.13

 
$
5.96

Intrinsic value of options exercised
$
1,535

 
$
13,900
Stock Options Valuation Assumptions
The estimated grant-date fair value of our stock options issued to employees was calculated using the Black-Scholes option-pricing model, based on the following assumptions:

 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
Expected term (in years)
n/a
 
n/a
 
4.80
 
5.5
Risk-free interest rate
n/a
 
n/a
 
1.60%
 
1.73%
Expected volatility
n/a
 
n/a
 
50%
 
47%
Dividend rate
n/a
 
n/a
 
—%
 
—%
Summary of Restricted Stock Units Activity
A summary of RSUs activities for the nine months ended September 30, 2015, is as follows (in thousands, except years and per share amounts):
 
Number of Shares
 
Weighted Average Grant Date Fair Value
 
Weighted Average Remaining Service Period
(in years)
 
Aggregated Intrinsic Value
Outstanding as of December 31, 2014
2,388

 
$
8.97

 
 
 
 
Granted
1,256

 
$
5.48

 
 
 
 
Released
(713
)
 
$
10.82

 
 
 
 
Canceled
(359
)
 
$
9.19

 
 
 
 
Outstanding as of September 30, 2015
2,572

 
$
6.72

 
1.7
 
$
15,409
Summary of Valuation Assumptions
The fair value of the option component of the 2014 Purchase Plan shares was determined at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:

 
Three and Nine Months Ended
 September 30,
 
2015
 
2014
Expected term (in years)
1.2
 
1.4
Risk-free interest rate
0.32%
 
0.24%
Expected volatility
40%
 
31%
Dividend rate
—%
 
—%