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Share-based payments (Tables)
3 Months Ended
Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Share Options Activity

Details of share options activity during the three months ended March 31, 2017 were as follows:

 

 

 

Number of

options

 

 

Weighted average exercise price per share

 

 

Weighted average

remaining

contractual term

 

Aggregate

intrinsic

value

 

Outstanding as of December 31, 2016

 

 

352,000

 

 

$

10.25

 

 

4.4 years

 

$

-

 

Outstanding as of March 31, 2017

 

 

352,000

 

 

$

10.25

 

 

4.1 years

 

$

-

 

Options vested and expected to vest as of March 31, 2017

 

 

352,000

 

 

$

10.25

 

 

4.1 years

 

$

-

 

Options exercisable as of March 31, 2017

 

 

283,250

 

 

$

10.56

 

 

3.0 years

 

$

-

 

 

Unvested Balance of Options

The unvested balance of options is shown below for the three months ended March 31, 2017:

 

 

 

Number of

options

 

 

Weighted average exercise price per share

 

 

Weighted average

remaining

contractual term

Unvested as of December 31, 2016

 

 

68,750

 

 

$

8.91

 

 

8.9 years

Unvested as of March 31, 2017

 

 

68,750

 

 

$

8.91

 

 

8.7 years

 

Schedule of Restricted Share Units Activity

Details of unvested RSUs activity during the three months ended March 31, 2017 were as follows:

 

 

 

Number of units

 

 

Weighted average

grant-date fair value

 

Unvested as of December 31, 2016

 

 

12,407,029

 

 

$

8.40

 

Vested and delivered

 

 

(677,545

)

 

$

7.93

 

Withheld as treasury stock (1)

 

 

(44,796

)

 

$

12.08

 

Vested not delivered (2)

 

 

(2,238,254

)

 

$

9.71

 

Forfeited

 

 

(77,250

)

 

$

5.39

 

Unvested as of March 31, 2017

 

 

9,369,184

 

 

$

8.13

 

 

(1)

As discussed in Note 8, the increase in treasury stock was due to shares withheld to pay statutory withholding taxes upon the vesting of RSUs during the three months ended March 31, 2017.

(2)

Vested not delivered represent the vested RSUs with deferred delivery at a future time. As of March 31, 2017, the cumulative shares of RSUs included in “vested not delivered” above were 6,345,921.

Schedule of Share-based Compensation

The share-based compensation expenses for the Company’s share options, RSUs and common stock were allocated to the following accounts in the condensed consolidated financial statements for the three months ended March 31, 2017 and 2016:

 

 

 

Three Months Ended March 31,

 

(In thousands)

 

2017

 

 

2016

 

Sales and marketing expenses

 

$

698

 

 

$

546

 

General and administrative expenses

 

 

6,614

 

 

 

6,832

 

 

 

 

7,312

 

 

 

7,378

 

Capitalized in intangible assets

 

 

246

 

 

 

278

 

Total

 

$

7,558

 

 

$

7,656