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Equity Incentive Plans and Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock-based Compensation
A summary of our stock-based compensation expense is as follows (in thousands):
 
Three Months Ended March 31,
 
2017
 
2016
Stock-based compensation by type of award:
 
 
 
Stock options
$
819

 
$
1,100

Stock awards
2,949

 
2,960

Employee stock purchase plan
548

 
552

 
$
4,316

 
$
4,612

 
 
 
 
Stock-based compensation by category of expense:
 
 
 
Cost of revenue
$
283

 
$
365

Sales and marketing
1,536

 
2,085

Research and development
1,664

 
1,431

General and administrative
833

 
731

 
$
4,316

 
$
4,612
Stock Options Valuation Assumptions
 
Three Months Ended March 31,
 
2017
 
2016
Expected term (in years)
*
 
4.9
Risk-free interest rate
*
 
1.42%
Volatility
*
 
49%
Dividend rate
*
 
—%
__________________________________________
* We did not grant stock options during the three months ended March 31, 2017.
Summary of Activity under Stock Option Plans
The following tables summarize our stock option activities and related information:

 
Number of Shares (thousands)
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term
(years)
 
Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2016
7,868

 
$
4.82

 
 
 
 
Granted
—

 
—

 
 
 
 

Exercised
(728
)
 
$
2.84

 
 
 
 
Canceled (1)
(120
)
 
$
6.82

 
 
 
 

Outstanding as of March 31, 2017
7,020

 
$
5.00

 
6.2
 
$
30,187

Vested and exercisable as of March 31, 2017
5,247

 
$
4.87

 
5.6
 
$
23,268


__________________________________________
 (1)
Includes 49,000 shares of canceled stock options from the 2008 Plan that were added to the 2014 Plan.
Stock Option Information
The following table provides information pertaining to our stock options (in thousands, except weighted-average fair value):
 
Three Months Ended March 31,
 
2017
 
2016
Fair value of options granted
*
 
$
1,603

Weighted-average fair value of options granted
*
 
$
2.38

Intrinsic value of options exercised
$
4,708

 
$
421


__________________________________________
* We did not grant stock options during the three months ended March 31, 2017.
Summary of Restricted Stock Units Activity
The following table summarizes our stock award activities and related information:
 
Number of Shares (thousands)
 
Weighted-Average Grant Date Fair Value
 
Weighted-Average Remaining Vesting Term
(years)
 
Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2016
5,959

 
$
5.81

 
 
 
 
Granted
1,092

 
$
9.24

 
 
 
 
Released
(657
)
 
$
5.68

 
 
 
 
Canceled
(247
)
 
$
6.78

 
 
 
 
Outstanding as of March 31, 2017
6,147

 
$
6.40

 
1.7
 
$
56,249