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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2014
Equity [Abstract] |
Stockholders' Equity | Note 7 — Stockholders’ Equity Equity Plans Stock option activity for the nine months ended September 30, 2014 is presented below (in thousands, except per share data):
|  | Number of Shares |  |  | Weighted- Average Exercise Price Per Share |  |  | Weighted- Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2013 |  |  | 1,734 |  |  | $ | 31.85 |  |  |  |  |  |  |  |  |
Granted |  |  | 532 |  |  |  | 38.12 |  |  |  |  |  |  |  |  |
Exercised |  |  | (182 | ) |  |  | 29.89 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (65 | ) |  |  | 34.69 |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2014 |  |  | 2,019 |  |  | $ | 33.59 |  |  |  | 7.23 |  |  | $ | 7,452 |
Exercisable at September 30, 2014 |  |  | 898 |  |  | $ | 30.29 |  |  |  | 5.12 |  |  | $ | 5,977 |
Restricted stock unit activity for the nine months ended September 30, 2014 is presented below (in thousands, except per share data):
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |
Unvested at December 31, 2013 |  |  | 372 |  |  | $ | 34.14 |
Granted |  |  | 235 |  |  |  | 36.67 |
Vested or settled |  |  | (96 | ) |  |  | 33.99 |
Forfeited |  |  | (74 | ) |  |  | 33.55 |
Unvested at September 30, 2014 |  |  | 437 |  |  | $ | 35.63 |
Stock-Based Compensation Forrester recognizes the fair value of stock-based compensation in net income over the requisite service period of the individual grantee, which generally equals the vesting period. Stock-based compensation was recorded in the following expense categories (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Cost of services and fulfillment |  | $ | 1,134 |  |  | $ | 1,061 |  |  | $ | 3,005 |  |  | $ | 2,708 |
Selling and marketing |  |  | 302 |  |  |  | 321 |  |  |  | 767 |  |  |  | 893 |
General and administrative |  |  | 547 |  |  |  | 478 |  |  |  | 1,376 |  |  |  | 987 |
Total |  | $ | 1,983 |  |  | $ | 1,860 |  |  | $ | 5,148 |  |  | $ | 4,588 |
Forrester utilizes the Black-Scholes valuation model for estimating the fair value of stock options. Options granted under the equity incentive plans and shares subject to purchase under the employee stock purchase plan were valued using the following assumptions:
|  | Three Months Ended |  |  | Three Months Ended |
|  | September 30, 2014 |  |  | September 30, 2013 |
|  | Equity Incentive |  |  | Employee Stock |  |  | Equity Incentive |  |  | Employee Stock |
|  | Plans |  |  | Purchase Plan |  |  | Plans |  |  | Purchase Plan |
Average risk-free interest rate |  |  | 1.70 | % |  |  | 0.06 | % |  |  | 1.40 | % |  |  | 0.08 | %
Expected dividend yield |  |  | 1.8 | % |  |  | 1.8 | % |  |  | 2.1 | % |  |  | 2.1 | %
Expected life |  |  | 5.1 Years |  |  |  | 0.5 Years |  |  |  | 4.9 Years |  |  |  | 0.5 Years |
Expected volatility |  |  | 25 | % |  |  | 23 | % |  |  | 36 | % |  |  | 19 | %
Weighted average fair value |  | $ | 7.68 |  |  | $ | 8.00 |  |  | $ | 9.94 |  |  | $ | 6.02 |
|  | Nine Months Ended September 30, 2014 |  |  | Nine Months Ended September 30, 2013 |
|  | Equity Incentive |  |  | Employee Stock |  |  | Equity Incentive |  |  | Employee Stock |
|  | Plans |  |  | Purchase Plan |  |  | Plans |  |  | Purchase Plan |
Average risk-free interest rate |  |  | 1.69 | % |  |  | 0.06 | % |  |  | 0.81 | % |  |  | 0.08 | %
Expected dividend yield |  |  | 1.8 | % |  |  | 1.8 | % |  |  | 2.1 | % |  |  | 2.1 | %
Expected life |  |  | 5.1 Years |  |  |  | 0.5 Years |  |  |  | 4.9 Years |  |  |  | 0.5 Years |
Expected volatility |  |  | 26 | % |  |  | 23 | % |  |  | 37 | % |  |  | 19 | %
Weighted average fair value |  | $ | 7.91 |  |  | $ | 8.00 |  |  | $ | 9.15 |  |  | $ | 6.02 |
Dividends In the nine months ended September 30, 2014, the Company declared and paid dividends of $9.1 million consisting of a $0.16 per share dividend in each of the first three quarters of 2014. In the nine months ended September 30, 2013, the Company declared and paid dividends of $9.4 million consisting of a $0.15 per share dividend in each of the first three quarters of 2013. In October 2014 the Company declared a dividend of $0.16 per share payable on December 17, 2014 to shareholders of record as of December 3, 2014. Treasury Stock Forrester’s Board of Directors has authorized an aggregate $410.0 million to purchase common stock under its stock repurchase program, including $25.0 million authorized in April 2014. The shares repurchased may be used, among other things, in connection with Forrester’s employee and director equity incentive and purchase plans. In the nine months ended September 30, 2014, the Company repurchased approximately 1.8 million shares of common stock at an aggregate cost of approximately $66.6 million. From the inception of the program through September 30, 2014, Forrester repurchased approximately 14.2 million shares of common stock at an aggregate cost of approximately $395.6 million.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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