Share-based compensation (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The key assumptions utilized to calculate the grant-date fair values for these awards are summarized below:



Key Assumptions
Exercise price	$	4.72
Expected term	1.0 - 1.3 years
Expected volatility	65		%
Dividend yield	—		%
Risk-free rate	2.61		%

Schedule of Share Options Activity

For the six months ended June 30, 2019, details of stock option activity 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, 2018	112,000		$	13.98	2.8 years	$	—
Granted	2,064,000		$	4.72	9.6 years
Forfeited	(56,000	)	$	4.72
Outstanding as of June 30, 2019	2,120,000		$	5.20	9.2 years	$	1,303
Options exercisable as of June 30, 2019	112,000		$	13.98	2.3 years	$	5

Unvested Balance of Options

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

For the six months ended June 30, 2019, details of unvested RSU and restricted stock activity were as follows:



	Number of units		Weighted average grant-date fair value
Unvested as of December 31, 2018	3,831,965		$	7.95
Granted	1,835,930		$	4.89
Vested and delivered	(1,456,902	)	$	4.03
Withheld as treasury stock (1)	(552,291	)	$	4.18
Vested not delivered (2)	95,915		$	4.78
Forfeited	(153,961	)	$	3.54
Unvested as of June 30, 2019	3,600,656		$	7.76


(1)	As discussed in Note 9, the increase in treasury stock was due to shares withheld to cover statutory withholding taxes upon the delivery of shares following vesting of RSUs and issuance of restricted stock. As of June 30, 2019, there were 1,785,489 outstanding shares of treasury stock.

(2)

Vested not delivered represents vested RSUs with delivery deferred to a future time. For the six months ended June 30, 2019, there was a net decrease of 95,915 shares included in vested not delivered as a result of the delivery of Spin-off Grants of 740,334 shares, partially offset by the net activity from vesting of RSUs with deferred delivery of 644,419 shares. As of June 30, 2019, there were 2,814,002 outstanding RSUs included in vested not delivered.

Schedule of Share-based Compensation

For the three and six months ended June 30, 2019 and 2018, share-based compensation for the Company's stock option, RSU, common stock and restricted stock awards were allocated to the following accounts in the condensed consolidated financial statements:



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2019		2018		2019		2018
Sales and marketing	$	160	$	742	$	529	$	1,408
Product development	277		193		522		351
General and administrative	2,517		1,679		4,178		2,094
Spin-off transaction costs	—		—		—		5,409
Discontinued operations	—		—		—		15,713
Total share-based compensation expense	2,954		2,614		5,229		24,975
Capitalized in intangible assets of continuing operations	30		124		45		283
Capitalized in intangible assets of discontinued operations	—		—		—		181
Total share-based compensation	$	2,984	$	2,738	$	5,274	$	25,439