Share-based compensation (Tables)

3 Months Ended

Mar. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Details of share options activity during the three months ended March 31, 2018 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, 2017		222,000	$	12.59	5.4 years	$	-
Outstanding as of March 31, 2018		222,000	$	12.59	1.9 years	$	-
Options vested and expected to vest as of March 31, 2018		222,000	$	12.59	1.9 years	$	-
Options exercisable as of March 31, 2018		222,000	$	12.59	1.9 years	$	-

Unvested Balance of Options

The unvested balance of options is shown below for the three months ended March 31, 2018:

	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term
Unvested as of December 31, 2017		47,500		$	8.96	7.9 years
Vested⁽¹⁾		(47,500	)	$	8.96
Unvested as of March 31, 2018		-		$	-		-

⁽¹⁾	As discussed in “Spin-off of red violet” above, the vesting of 47,500 shares of stock options was accelerated as a result of the Spin-off of red violet.

Schedule of Restricted Share Units, Common Stock Grants and Restricted Stock Activity

Details of unvested RSUs, common stock grants and restricted stock activity during the three months ended March 31, 2018 were as follows:

	Number of units			Weighted average grant-date fair value
Unvested as of December 31, 2017		8,150,905		$	9.27
Granted⁽¹⁾		4,293,125		$	2.65
Vested and delivered⁽²⁾		(12,112,241	)	$	7.41
Withheld as treasury stock⁽³⁾		(143,395	)	$	7.80
Vested not delivered⁽⁴⁾		3,761,068		$	9.86
Forfeited		(135,334	)	$	5.63
Unvested as of March 31, 2018		3,814,128		$	8.51

⁽¹⁾

As discussed in “Spin-off of red violet” above, among the RSUs granted during the first quarter of 2018, there were an aggregate of 304,000 shares of Spin-off Grants that vested and were delivered in the current period, and an aggregate of 2,041,000 shares of Transaction Grants that vested but were subject to deferred delivery over a three-year period.

⁽²⁾	Among the shares vested and delivered during the first quarter of 2018, there were 6,273,318 shares that were vested but deferred in prior periods. See Item (4) below.

⁽³⁾	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 first quarter of 2018. As of March 31, 2018, there were 495,918 outstanding shares withheld as treasury stock.

⁽⁴⁾

Vested not delivered represent the vested RSUs or common stock grants with deferred delivery at a future time. During the first quarter of 2018, there was a net decrease of 3,761,068 shares included in “vested not delivered,” as a result of the delivery of common stock underlying RSUs included in “vested not delivered” in prior periods. As of March 31, 2018, there were 2,914,917 outstanding shares of RSUs or common stock grants included in “vested not delivered.”

Schedule of Share-based Compensation

The share-based compensation for the Company’s share options, RSUs, common stock grants and restricted stock were allocated to the following accounts in the condensed consolidated financial statements for the three months ended March 31, 2018 and 2017:

	Three Months Ended March 31,
(In thousands)	2018		2017
Sales and marketing expenses	$	766	$	612
General and administrative expenses		473		6,242
Spin-off transaction costs		5,409		-
Discontinued operations		15,713		458
		22,361		7,312
Capitalized in intangible assets of continuing operations		159		55
Capitalized in intangible assets of discontinued operations		181		191
Total	$	22,701	$	7,558