Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2017

Stock option activity for the six months ended June 30, 2017 is presented below (in thousands, except per share data and contractual term):

				Weighted -		Weighted -
				Average		Average
				Exercise		Remaining		Aggregate
	Number			Price Per		Contractual		Intrinsic
	of Shares			Share		Term (in years)		Value
Outstanding at December 31, 2016		1,540		$	34.35
Granted		—			—
Exercised		(127	)		31.70
Forfeited		(33	)		34.32
Outstanding at June 30, 2017		1,380		$	34.60		6.05	$	6,321
Exercisable at June 30, 2017		859		$	34.03		5.00	$	4,403
Vested and expected to vest at June 30, 2017		1,380		$	34.60		6.05	$	6,321

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the six months ended June 30, 2017 is presented below (in thousands, except per share data):

				Weighted-
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2016		539		$	35.50
Granted		39			38.87
Vested		(56	)		34.32
Forfeited		(18	)		35.05
Unvested at June 30, 2017		504		$	35.91

Summary of Stock-Based Compensation Expense Recorded in Expense Categories

Stock-based compensation was recorded in the following expense categories (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Cost of services and fulfillment	$	1,103	$	870	$	2,299	$	2,064
Selling and marketing		202		109		364		423
General and administrative		891		647		1,582		1,274
Total	$	2,196	$	1,626	$	4,245	$	3,761

Shares Subject to Employee Stock Purchase Plan Valuation Assumptions

Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
Average risk-free interest rate		0.88	%		0.47	%		0.74	%		0.47	%
Expected dividend yield		1.9	%		2.3	%		1.9	%		2.3	%
Expected life	0.5 Years			0.5 Years			0.5 Years			0.5 Years
Expected volatility		28	%		27	%		26	%		27	%
Weighted average fair value	$	8.49		$	7.06		$	8.21		$	7.06