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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the six months ended June 30, 2018 is presented below (in thousands, except per share data):

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2017

 

 

509

 

 

$

37.59

 

Granted

 

 

34

 

 

 

40.66

 

Vested

 

 

(25

)

 

 

36.56

 

Forfeited

 

 

(23

)

 

 

37.07

 

Unvested at June 30, 2018

 

 

495

 

 

$

37.88

 

 

Schedule of Stock Option Activity

Stock option activity for the six months ended June 30, 2018 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, 2017

 

 

937

 

 

$

35.10

 

 

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(82

)

 

 

33.66

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(11

)

 

 

35.02

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2018

 

 

844

 

 

$

35.24

 

 

 

5.55

 

 

$

5,658

 

Exercisable at June 30, 2018

 

 

605

 

 

$

35.24

 

 

 

4.99

 

 

$

4,055

 

Vested and expected to vest at June 30, 2018

 

 

844

 

 

$

35.24

 

 

 

5.55

 

 

$

5,658

 

 

Summary of Stock-Based Compensation 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,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Cost of services and fulfillment

 

$

1,108

 

 

$

1,103

 

 

$

2,127

 

 

$

2,299

 

Selling and marketing

 

 

246

 

 

 

202

 

 

 

491

 

 

 

364

 

General and administrative

 

 

754

 

 

 

891

 

 

 

1,453

 

 

 

1,582

 

Total

 

$

2,108

 

 

$

2,196

 

 

$

4,071

 

 

$

4,245

 

 

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,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Average risk-free interest rate

 

 

1.92

%

 

 

0.88

%

 

 

1.62

%

 

 

0.74

%

Expected dividend yield

 

 

2.0

%

 

 

1.9

%

 

 

2.0

%

 

 

1.9

%

Expected life

 

0.5 Years

 

 

0.5 Years

 

 

0.5 Years

 

 

0.5 Years

 

Expected volatility

 

 

22

%

 

 

28

%

 

 

22

%

 

 

26

%

Weighted average fair value

 

$

8.49

 

 

$

8.49

 

 

$

8.50

 

 

$

8.21