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Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Schedule of Stock Option Activity

Stock option activity for the nine months ended September 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

 

 

(385

)

 

 

32.32

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(73

)

 

 

34.44

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2017

 

 

1,082

 

 

$

35.07

 

 

 

6.01

 

 

$

7,332

 

Exercisable at September 30, 2017

 

 

771

 

 

$

34.92

 

 

 

5.36

 

 

$

5,340

 

Vested and expected to vest at September 30, 2017

 

 

1,082

 

 

$

35.07

 

 

 

6.01

 

 

$

7,332

 

 
Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the nine months ended September 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

 

 

241

 

 

 

39.58

 

Vested

 

 

(205

)

 

 

35.28

 

Forfeited

 

 

(51

)

 

 

36.01

 

Unvested at September 30, 2017

 

 

524

 

 

$

37.42

 

 
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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Cost of services and fulfillment

 

$

1,088

 

 

$

1,077

 

 

$

3,387

 

 

$

3,141

 

Selling and marketing

 

 

170

 

 

 

272

 

 

 

535

 

 

 

695

 

General and administrative

 

 

920

 

 

 

622

 

 

 

2,501

 

 

 

1,895

 

Total

 

$

2,178

 

 

$

1,971

 

 

$

6,423

 

 

$

5,731

 

 
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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Average risk-free interest rate

 

 

0.96

%

 

 

0.47

%

 

 

0.81

%

 

 

0.47

%

Expected dividend yield

 

 

1.9

%

 

 

2.0

%

 

 

1.9

%

 

 

2.0

%

Expected life

 

0.5 Years

 

 

0.5 Years

 

 

0.5 Years

 

 

0.5 Years

 

Expected volatility

 

 

26

%

 

 

26

%

 

 

24

%

 

 

25

%

Weighted average fair value

 

$

8.50

 

 

$

7.52

 

 

$

8.32

 

 

$

7.75