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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Components of Stockholders' Equity

The components of stockholders’ equity are as follows (in thousands):

	Three Months Ended September 30, 2021
	Common Stock																Treasury Stock								Accumulated
	Number of Shares				$0.01ParValue				Additional Paid-in Capital				Retained Earnings				Number of Shares				Cost				Other Comprehensive Income (Loss)				Total Equity
Balance at June 30, 2021		23,780			$	238			$	237,485			$	140,280				4,694			$	(174,562	)		$	(1,939	)		$	201,502
Issuance of common stock under    stock plans, including tax effects		262				2				2,021				—				—				—				—				2,023
Repurchases of common stock		—				—				—				—				170				(7,973	)			—				(7,973	)
Stock-based compensation expense		—				—				2,462				—				—				—				—				2,462
Net income		—				—				—				4,522				—				—				—				4,522
Net change in interest rate swap,    net of tax		—				—				—				—				—				—				128				128
Net change in marketable investments,    net of tax		—				—				—				—				—				—				(4	)			(4	)
Foreign currency translation		—				—				—				—				—				—				(1,508	)			(1,508	)
Balance at September 30, 2021		24,042			$	240			$	241,968			$	144,802				4,864			$	(182,535	)		$	(3,323	)		$	201,152

	Three Months Ended September 30, 2020
	Common Stock																Treasury Stock								Accumulated
	Number of Shares				$0.01 Par Value				Additional Paid-in Capital				Retained Earnings				Number of Shares				Cost				Other Comprehensive Income (Loss)				Total Equity
Balance at June 30, 2020		23,401			$	234			$	222,778			$	129,314				4,631			$	(171,889	)		$	(7,028	)		$	173,409
Issuance of common stock under    stock plans, including tax effects		178				2				(422	)			—				—				—				—				(420	)
Stock-based compensation expense		—				—				2,697				—				—				—				—				2,697
Net loss		—				—				—				(3,760	)			—				—				—				(3,760	)
Net change in interest rate swap,    net of tax		—				—				—				—				—				—				205				205
Foreign currency translation		—				—				—				—				—				—				2,577				2,577
Balance at September 30, 2020		23,579			$	236			$	225,053			$	125,554				4,631			$	(171,889	)		$	(4,246	)		$	174,708

	Nine Months Ended September 30, 2021
	Common Stock																Treasury Stock								Accumulated
	Number of Shares				$0.01 Par Value				Additional Paid-in Capital				Retained Earnings				Number of Shares				Cost				Other Comprehensive Income (Loss)				Total Stockholders' Equity
Balance at December 31, 2020		23,648			$	236			$	230,128			$	127,981				4,631			$	(171,889	)		$	(690	)		$	185,766
Issuance of common stock under    stock plans, including tax effects		394				4				4,489				—				—				—				—				4,493
Repurchases of common stock		—				—				—				—				233				(10,646	)			—				(10,646	)
Stock-based compensation expense		—				—				7,351				—				—				—				—				7,351
Net income		—				—				—				16,821				—				—				—				16,821
Net change in interest rate swap,    net of tax		—				—				—				—				—				—				457				457
Net change in marketable investments,    net of tax		—				—				—				—				—				—				(4	)			(4	)
Foreign currency translation		—				—				—				—				—				—				(3,086	)			(3,086	)
Balance at September 30, 2021		24,042			$	240			$	241,968			$	144,802				4,864			$	(182,535	)		$	(3,323	)		$	201,152

	Nine Months Ended September 30, 2020
	Common Stock																Treasury Stock								Accumulated
	Number of Shares				$0.01 Par Value				Additional Paid-in Capital				Retained Earnings				Number of Shares				Cost				Other Comprehensive Income (Loss)				Total Stockholders' Equity
Balance at December 31, 2019		23,275			$	233			$	216,454			$	118,147				4,631			$	(171,889	)		$	(4,857	)		$	158,088
Issuance of common stock under    stock plans, including tax effects		304				3				635				—				—				—				—				638
Stock-based compensation expense		—				—				7,964				—				—				—				—				7,964
Cumulative effect adjustment due    to adoption of new accounting    pronouncement, net of tax		—				—				—				(157	)			—				—				—				(157	)
Net income		—				—				—				7,564				—				—				—				7,564
Net change in interest rate swap,    net of tax		—				—				—				—				—				—				(931	)			(931	)
Foreign currency translation		—				—				—				—				—				—				1,542				1,542
Balance at September 30, 2020		23,579			$	236			$	225,053			$	125,554				4,631			$	(171,889	)		$	(4,246	)		$	174,708

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the nine months ended September 30, 2021 is presented below (in thousands, except per share data):

						Weighted-
						Average
		Number of				Grant Date
		Shares				Fair Value
Unvested at December 31, 2020			642			$	38.99
Granted			268				45.23
Vested			(242	)			39.91
Forfeited			(61	)			39.57
Unvested at September 30, 2021			607			$	41.33

Schedule of Stock Option Activity

Stock option activity for the nine months ended September 30, 2021 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, 2020			292			$	35.46
Exercised			(135	)			35.40
Outstanding at September 30, 2021			157			$	35.52				2.71			$	2,163
Vested and Exercisable at September 30, 2021			157			$	35.52				2.71			$	2,163

Summary of Stock-Based Compensation Recorded in Expense Categories in Consolidated Statements of Operations

Forrester recognizes the fair value of stock-based compensation 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 on the Consolidated Statements of Operations (in thousands):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2021				2020				2021				2020
Cost of services and fulfillment		$	1,554			$	1,638			$	4,389			$	4,463
Selling and marketing			372				446				1,220				1,231
General and administrative			536				613				1,742				2,270
Total		$	2,462			$	2,697			$	7,351			$	7,964

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,
		2021				2020				2021				2020
Average risk-free interest rate			0.05	%			0.12	%			0.05	%			0.12	%
Expected dividend yield			0.0	%			0.0	%			0.0	%			0.0	%
Expected life		0.5 Years				0.5 Years				0.5 Years				0.5 Years
Expected volatility			30	%			93	%			30	%			93	%
Weighted average fair value		$	11.20			$	14.57			$	11.20			$	14.57

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

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