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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock Options and Awards | Awards granted other than an option or stock appreciation right shall reduce the common stock shares available for grant by 1.75 shares for every share issued.
|  | December 31, |
|  | 2014 |
Common stock shares available for grant |  |  | 2,247,565 |
Common stock options outstanding |  |  | 3,536,157 |
Restricted stock awards outstanding |  |  | 35,364 |
Restricted stock units outstanding |  |  | 564,891 |
Schedule of Employee Stock Purchase Plan | The intrinsic value listed below is calculated as the difference between the market value on the date of purchase and the purchase price of the shares.
|  | Year Ended December 31, 2014 |
Shares purchased under ESPP |  |  | 38,298 |
Average price of shares purchased under ESPP |  | $ | 9.95 |
Intrinsic value of shares purchased under ESPP |  | $ | 107,000 |
Schedule of Standard and Market-based Stock Options Activity | The following table sets forth the summary of option activity under the Company’s stock option plans for the years ended December 31, 2014, 2013, and 2012:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Fair Value Of Options Granted |  |  | Aggregate Intrinsic Value of Options Exercised (In thousands) |
Outstanding at January 1, 2012 |  |  | 3,267,838 |  |  | $ | 6.61 |  |  |  |  |  |  |  |  |
Granted |  |  | 425,150 |  |  |  | 6.10 |  |  | $ | 3.35 |  |  |  |  |
Exercised |  |  | (231,403 | ) |  |  | 4.52 |  |  |  |  |  |  | $ | 443 |
Forfeited |  |  | (47,959 | ) |  |  | 5.89 |  |  |  |  |  |  |  |  |
Expired |  |  | (257,995 | ) |  |  | 7.32 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 3,155,631 |  |  |  | 6.65 |  |  |  |  |  |  |  |  |
Granted |  |  | 1,058,700 |  |  |  | 10.20 |  |  |  | 5.63 |  |  |  |  |
Exercised |  |  | (956,633 | ) |  |  | 6.68 |  |  |  |  |  |  |  | 5,774 |
Forfeited |  |  | (10,531 | ) |  |  | 8.24 |  |  |  |  |  |  |  |  |
Expired |  |  | (20,000 | ) |  |  | 9.01 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2013 |  |  | 3,227,167 |  |  |  | 7.78 |  |  |  |  |  |  |  |  |
Granted |  |  | 604,620 |  |  |  | 10.32 |  |  |  | 4.93 |  |  |  |  |
Exercised |  |  | (205,744 | ) |  |  | 6.34 |  |  |  |  |  |  |  | 1,125 |
Forfeited |  |  | (102,454 | ) |  |  | 7.20 |  |  |  |  |  |  |  |  |
Expired |  |  | (37,432 | ) |  |  | 10.19 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2014 |  |  | 3,486,157 |  |  |  | 8.30 |  |  |  |  |  |  |  |  |
The following table sets forth the summary of the market-based option activity under the Company’s stock option plans for the year ended December 31, 2014:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Fair Value Of Options Granted |  |  | Aggregate Intrinsic Value of Options Exercised (In thousands) |
Outstanding at January 1, 2014 |  |  | 0 |  |  | $ | 0.00 |  |  |  |  |  |  |  |  |
Granted |  |  | 50,000 |  |  |  | 11.94 |  |  |  | 5.71 |  |  |  |  |
Exercised |  |  | 0 |  |  |  | 0.00 |  |  |  |  |  |  |  | 0 |
Forfeited |  |  | 0 |  |  |  | 0.00 |  |  |  |  |  |  |  |  |
Expired |  |  | 0 |  |  |  | 0.00 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2014 |  |  | 50,000 |  |  |  | 11.94 |  |  |  |  |  |  |  |  |
Schedule of Information Regarding Standard and Market Condition Based Stock Options Outstanding | Information regarding standard stock options outstanding at December 31, 2014, 2013, and 2012 is summarized below:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (In millions) |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options outstanding |  |  | 3,155,631 |  |  | $ | 6.65 |  |  |  | 5.24 |  |  | $ | 3.5 |
Options vested and expected to vest using estimated forfeiture rates |  |  | 3,019,979 |  |  |  | 6.67 |  |  |  | 5.17 |  |  |  | 3.4 |
Options exercisable |  |  | 2,329,987 |  |  |  | 6.91 |  |  |  | 4.69 |  |  |  | 2.5 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options outstanding |  |  | 3,227,167 |  |  | $ | 7.78 |  |  |  | 5.46 |  |  | $ | 9.9 |
Options vested and expected to vest using estimated forfeiture rates |  |  | 2,994,044 |  |  |  | 7.61 |  |  |  | 5.41 |  |  |  | 9.6 |
Options exercisable |  |  | 1,774,546 |  |  |  | 6.67 |  |  |  | 4.95 |  |  |  | 7.5 |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options outstanding |  |  | 3,486,157 |  |  | $ | 8.30 |  |  |  | 4.85 |  |  | $ | 6.6 |
Options vested and expected to vest using estimated forfeiture rates |  |  | 3,319,308 |  |  |  | 8.21 |  |  |  | 4.80 |  |  |  | 6.6 |
Options exercisable |  |  | 2,023,024 |  |  |  | 7.18 |  |  |  | 4.26 |  |  |  | 6.0 |
Information regarding these market condition based stock options outstanding at December 31, 2014 is summarized below:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (In millions) |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options outstanding |  |  | 50,000 |  |  | $ | 11.94 |  |  |  | 6.15 |  |  | $ | 0.0 |
Options vested and expected to vest using estimated forfeiture rates |  |  | 45,430 |  |  |  | 11.94 |  |  |  | 6.15 |  |  |  | 0.0 |
Options exercisable |  |  | 0 |  |  |  | 0.00 |  |  |  | 0.00 |  |  |  | 0.0 |
Additional Information Regarding Options Outstanding | Additional information regarding standard options outstanding as of December 31, 2014 is as follows:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$ 2.70 - $3.81 |  |  | 20,297 |  |  |  | 4.21 |  |  | $ | 2.88 |  |  |  | 20,297 |  |  | $ | 2.88 |
3.85 - 3.85 |  |  | 600,000 |  |  |  | 4.87 |  |  |  | 3.85 |  |  |  | 600,000 |  |  |  | 3.85 |
4.24 - 6.12 |  |  | 578,769 |  |  |  | 4.09 |  |  |  | 5.86 |  |  |  | 467,289 |  |  |  | 5.83 |
6.23 - 8.61 |  |  | 453,931 |  |  |  | 4.39 |  |  |  | 7.44 |  |  |  | 366,187 |  |  |  | 7.43 |
8.71 - 9.20 |  |  | 315,030 |  |  |  | 5.47 |  |  |  | 9.16 |  |  |  | 101,572 |  |  |  | 9.10 |
9.53 - 9.53 |  |  | 850,000 |  |  |  | 5.18 |  |  |  | 9.53 |  |  |  | 229,374 |  |  |  | 9.53 |
9.65 - 13.61 |  |  | 355,130 |  |  |  | 6.07 |  |  |  | 11.64 |  |  |  | 18,218 |  |  |  | 12.58 |
13.65 - 14.80 |  |  | 203,000 |  |  |  | 4.80 |  |  |  | 14.15 |  |  |  | 110,087 |  |  |  | 14.31 |
15.12 - 15.12 |  |  | 10,000 |  |  |  | 2.62 |  |  |  | 15.12 |  |  |  | 10,000 |  |  |  | 15.12 |
16.57 - 16.57 |  |  | 100,000 |  |  |  | 2.74 |  |  |  | 16.57 |  |  |  | 100,000 |  |  |  | 16.57 |
$2.70 - $16.57 |  |  | 3,486,157 |  |  |  | 4.85 |  |  | $ | 8.30 |  |  |  | 2,023,024 |  |  | $ | 7.18 |
Additional information regarding market condition based stock options outstanding as of December 31, 2014 is as follows:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$ 11.94 - $11.94 |  |  | 50,000 |  |  |  | 6.15 |  |  | $ | 11.94 |  |  |  | 0 |  |  | $ | 0.00 |
Schedule of Restricted Stock Units Activity | RSU activity for the years ended December 31, 2014, 2013, and 2012 was as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Fair Value of Released RSU’s (In thousands) |
Outstanding at January 1, 2012 |  |  | 407,765 |  |  |  |  |  |  |  |  |
Awarded |  |  | 555,911 |  |  | $ | 6.64 |  |  |  |  |
Released |  |  | (203,519 | ) |  |  |  |  |  | $ | 1,128 |
Forfeited |  |  | (51,506 | ) |  |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 708,651 |  |  |  |  |  |  |  |  |
Awarded |  |  | 294,150 |  |  |  | 7.12 |  |  |  |  |
Released |  |  | (303,882 | ) |  |  |  |  |  |  | 2,806 |
Forfeited |  |  | (30,863 | ) |  |  |  |  |  |  |  |
Outstanding at December 31, 2013 |  |  | 668,056 |  |  |  |  |  |  |  |  |
Awarded |  |  | 265,630 |  |  |  | 11.35 |  |  |  |  |
Released |  |  | (317,970 | ) |  |  |  |  |  |  | 3,491 |
Forfeited |  |  | (50,825 | ) |  |  |  |  |  |  |  |
Outstanding at December 31, 2014 |  |  | 564,891 |  |  |  |  |  |  |  |  |
Schedule of Information Regarding Restricted Stock Units Outstanding | Information regarding RSU’s at December 31, 2014, 2013, and 2012 is summarized below:
|  | Number of Shares |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (In millions) |  |  | Fair Value (In millions) |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
RSUs outstanding |  |  | 708,651 |  |  |  | 1.09 |  |  | $ | 4.9 |  |  | $ | 4.9 |
RSUs vested and expected to vest using estimated forfeiture rates |  |  | 588,170 |  |  |  | 1.05 |  |  | $ | 4.0 |  |  |  |  |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
RSUs outstanding |  |  | 668,056 |  |  |  | 0.91 |  |  | $ | 6.9 |  |  | $ | 6.9 |
RSUs vested and expected to vest using estimated forfeiture rates |  |  | 583,711 |  |  |  | 0.89 |  |  | $ | 6.1 |  |  |  |  |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
RSUs outstanding |  |  | 564,891 |  |  |  | 0.84 |  |  | $ | 5.3 |  |  | $ | 5.3 |
RSUs vested and expected to vest using estimated forfeiture rates |  |  | 502,411 |  |  |  | 0.80 |  |  | $ | 4.8 |  |  |  |  |
Schedule of Restricted Stock Awards Activity | Restricted stock award activity for the years ended December 31, 2014, 2013, and 2012 was as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Total Fair Value of Awards Released (In thousands) |
Outstanding at January 1, 2012 |  |  | 18,000 |  |  | $ | 6.61 |  |  |  |  |
Awarded |  |  | 57,750 |  |  |  | 5.70 |  |  |  |  |
Released |  |  | (31,750 | ) |  |  | 6.72 |  |  | $ | 171 |
Forfeited |  |  | 0 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2012 |  |  | 44,000 |  |  |  | 5.34 |  |  |  |  |
Awarded |  |  | 44,000 |  |  |  | 14.09 |  |  |  |  |
Released |  |  | (44,000 | ) |  |  | 5.34 |  |  |  | 676 |
Forfeited |  |  | 0 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2013 |  |  | 44,000 |  |  |  | 14.09 |  |  |  |  |
Awarded |  |  | 35,364 |  |  |  | 10.97 |  |  |  |  |
Released |  |  | (44,000 | ) |  |  | 14.09 |  |  |  | 483 |
Forfeited |  |  | 0 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2014 |  |  | 35,364 |  |  |  | 10.97 |  |  |  |  |
Schedule of Stock Options, Market Condition Based Stock Options and Employee Stock Purchase Plan, Valuation Assumptions | The assumptions used to value option grants under the Company’s stock plans are as follows:
|  | Standard Stock Options |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Expected life (in years) |  |  | 4.7 |  |  |  | 4.9 |  |  |  | 4.5 |
Interest rate |  |  | 1.4 | % |  |  | 0.8 | % |  |  | 0.7 | %
Volatility |  |  | 57 | % |  |  | 70 | % |  |  | 70 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
|  | Market Condition Based Stock Options |
|  | 2014 |
Expected life (in years) |  |  | 7.0 |
Interest rate |  |  | 2.2 | %
Volatility |  |  | 66 | %
Dividend yield |  |  | 0.0 | %
|  | Employee Stock Purchase Plan |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Expected life (in years) |  |  | 0.5 |  |  |  | 0.5 |  |  |  | 0.5 |
Interest rate |  |  | 0.1 | % |  |  | 0.1 | % |  |  | 0.1 | %
Volatility |  |  | 43 | % |  |  | 67 | % |  |  | 62 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Schedule of Stock-Based Compensation | Total stock-based compensation recognized in the consolidated statements of operations is as follows:
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Income Statement Classifications |  | (In thousands) |
Sales and marketing |  | $ | 1,117 |  |  | $ | 747 |  |  | $ | 547 |
Research and development |  |  | 1,267 |  |  |  | 1,040 |  |  |  | 756 |
General and administrative |  |  | 2,911 |  |  |  | 2,857 |  |  |  | 1,843 |
Total |  | $ | 5,295 |  |  | $ | 4,644 |  |  | $ | 3,146 |

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