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Equity-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2014
Equity-Based Compensation  
Schedule of stock options awards activity

 

 

Plan
Options

 

Weighted Average
Exercise Price

 

Options outstanding at December 31, 2013

 

1,861,761

 

$

26.09

 

Options granted

 

542,750

 

74.52

 

Options exercised

 

(338,549

)

19.72

 

Options cancelled or forfeited

 

(108,204

)

44.57

 

Options outstanding at September 30, 2014

 

1,957,758

 

$

39.62

 

Vested and exercisable at September 30, 2014

 

632,994

 

$

20.56

 

 

Schedule of weighted average assumptions used in the fair value calculation

 

 

Three Months
Ended September 30,

 

Nine Months
Ended September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

Expected term (in years)

 

 

6.3 

 

6.3-10

 

6.3 

 

Volatility

 

%

49 

%

49 

%

49 

%

Risk-free interest rate

 

%

1.0-1.5

%

2.1-2.8

%

1.0-1.5

%

Dividend yield

 

%

%

%

%

 

Schedule of restricted stock units ("RSUs") activity

 

 

Plan
Options

 

Weighted Average
Fair Value

 

Non-vested balance at December 31, 2013

 

10,000

 

$

47.17

 

Units granted

 

640,975

 

83.19

 

Units vested

 

(3,125

)

47.17

 

Units cancelled or forfeited

 

(18,850

)

81.36

 

Non-vested balance at September 30, 2014

 

629,000

 

$

82.85

 

 

Summary of non-cash equity-based compensation expense included in the Company's statement of operations

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

Cost of revenue

 

$

336 

 

$

126 

 

$

953 

 

$

291 

 

Sales and marketing

 

819 

 

358 

 

2,689 

 

865 

 

Product development

 

1,805 

 

406 

 

4,529 

 

990 

 

General and administrative

 

3,374 

 

962 

 

7,557 

 

2,276 

 

Total

 

$

6,334 

 

$

1,852 

 

$

15,728 

 

$

4,422