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COMMON STOCK AND STOCK-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Sep. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option and SARs activities and related information for the nine months ended September 30, 2017, are as follows:

		Number of options and SAR units (1)				Weighted average exercise price				Weighted average remaining contractual term				Aggregate intrinsic-value
Outstanding as of December 31, 2016			1,455,908			$	19.76
Granted			—				—
Exercised			(588,972	)			19.74
Forfeited or expired			(14,349	)			17.56
Outstanding as of September 30, 2017 (2)			852,587			$	19.81				5.2			$	19,598
Exercisable as of September 30, 2017 (3)			604,327			$	19.18				4.7			$	14,271

(1) The SAR units are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SAR units subject to the grant.

(2) Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 775,403 shares of the Company’s common stock issuable upon exercise.

(3) Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 551,645 shares of the Company’s common stock issuable upon exercise.

Summary of Restricted Stock Units Activity

A summary of the Company’s RSU activities and related information for the nine months ended September 30, 2017, are as follows:

		Number of RSUs				Weighted Average Grant-Date Fair Value
Unvested as of December 31, 2016			505,142			$	21.59
Granted			269,497				36.84
Vested			(193,399	)			21.46
Forfeited or expired			(26,374	)			26.01
Unvested as of September 30, 2017			554,866			$	28.84

Equity-Based Compensation Expense Included in Interim Condensed Consolidated Statements of Income

The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of income:

		Nine months ended September 30,								Three months ended September 30,
		2017				2016				2017				2016
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Cost of revenue		$	330			$	179			$	125			$	65
Research and development, net			2,834				2,162				991				741
Sales and marketing			1,040				681				381				179
General and administrative			2,142				1,626				722				580
Total equity-based compensation expense		$	6,346			$	4,648			$	2,219			$	1,565

Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan

The fair value for rights to purchase shares of common stock under the Company’s employee stock purchase plan was estimated on the date of grant using the following assumptions:

		Nine months ended September 30,								Three months ended September 30,
		2017				2016				2017				2016
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Expected dividend yield			0	%			0	%			0	%			0	%
Expected volatility			28%-46	%			29%-57	%			28%-43	%			29%-48	%
Risk-free interest rate			0.5%-1.1	%			0.3%-0.5	%			0.6%-1.1	%			0.4%-0.5	%
Expected forfeiture			0	%			0	%			0	%			0	%
Contractual term of up to			24 months				24 months				24 months				24 months

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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