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Share-based payments (Tables)

9 Months Ended

Sep. 30, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Details of share options activity during the nine months ended September 30, 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 September 30, 2017		352,000	$	10.25	3.6 years	$	-
Options vested and expected to vest as of September 30, 2017		352,000	$	10.25	3.6 years	$	-
Options exercisable as of September 30, 2017		294,500	$	8.36	2.7 years	$	-

Unvested Balance of Options

The unvested balance of options is shown below for the nine months ended September 30, 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
Vested		(11,250	)	$	7.44
Unvested as of September 30, 2017		57,500		$	9.19	8.2 years

Schedule of Restricted Share Units and Restricted Stock Activity

Details of unvested RSUs and restricted stock activity during the nine months ended September 30, 2017 were as follows:

	Number of units			Weighted average grant-date fair value
Unvested as of December 31, 2016		12,407,029		$	8.40
Granted⁽¹⁾		2,732,000		$	5.61
Vested and delivered		(2,357,852	)	$	6.58
Withheld as treasury stock ⁽²⁾		(192,288	)	$	6.86
Vested not delivered ⁽³⁾		(1,660,001	)	$	3.36
Forfeited		(172,416	)	$	5.80
Unvested as of September 30, 2017		10,756,472		$	8.94

⁽¹⁾	650,000 shares of restricted stock were granted during the nine months ended September 30, 2017, and 150,000 shares of restricted stock were unvested as of September 30, 2017.

⁽²⁾	As discussed in Note 7, the increase in treasury stock was due to shares withheld to pay statutory withholding taxes upon the vesting of RSUs during the nine months ended September 30, 2017.

⁽³⁾	Vested not delivered represent the vested RSUs with deferred delivery at a future time. As of September 30, 2017, the cumulative shares of RSUs included in “vested not delivered” above were 5,767,668.

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 and nine months ended September 30, 2017 and 2016:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2017		2016		2017		2016
Sales and marketing expenses	$	862	$	657	$	2,428	$	1,778
General and administrative expenses		10,209		6,661		25,274		20,163
		11,071		7,318		27,702		21,941
Capitalized in intangible assets		421		369		1,002		868
Total	$	11,492	$	7,687	$	28,704	$	22,809