v3.7.0.1
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of total shares available for grant
The following table summarizes the total number of shares available for grant under the 2014 Plan as of March 31, 2017:
 
 
 
Shares Available for Grant
 
 
Balance, December 31, 2016
5,116,753

Authorized
2,612,263

Options granted

Options canceled
542,265

Awards granted
(804,691
)
Awards canceled
847,391

Balance, March 31, 2017
8,313,981

Summary of shares available for grant and outstanding stock option activity
The following table summarizes the information about outstanding stock option activity:
 
Options Outstanding
 
Number of
Shares
Underlying
Outstanding
Options
 
Weighted
Average
Exercise 
Price
 
Weighted
Average
Remaining
Contractual Term
(Years)
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
(in thousands)
Balance, December 31, 2016
6,219,774

 
$
6.15

 
6.42
 
$
6,056

Options granted

 

 
 
 
 
Options exercised
(124,144
)
 
1.66

 
 
 
 
Options canceled
(542,265
)
 
6.95

 
 
 
 
Balance, March 31, 2017
5,553,365

 
$
6.17

 
5.96
 
$
3,547

Options exercisable, March 31, 2017
4,098,387

 
$
5.84

 
5.15
 
$
3,527

Summary of RSU activity and related information
summary of the Company’s RSU activity and related information for the three months ended March 31, 2017:
 
Restricted Stock Units Outstanding
 
Shares
 
Weighted Average
Grant Date
Fair Value Per Share
 
 
 
 
Balance, December 31, 2016
4,365,670

 
$
6.23

Awards granted
804,691

 
5.00

Awards vested
(481,546
)
 
5.87

Awards canceled
(777,023
)
 
6.24

Balance, March 31, 2017
3,911,792

 
$
6.03

Summary of the assumptions related to stock options
Weighted-average assumptions for the Company's stock options granted were as follows:
 
Three Months Ended March 31,
 
2017
 
2016
Stock options:
 
 
 
Expected term (in years)
N/A
 
5.89

Expected volatility
N/A
 
55.64
%
Risk free interest rate
N/A
 
1.52
%
Weighted average assumptions used to value employee stock purchase rights
Weighted average assumptions used to value employee stock purchase rights under the Black-Scholes model were as follows:
 
Three Months Ended March 31,
 
2017
 
2016
ESPP purchase rights:
 
 
 
Expected term (in years)
0.50 - 1.00
 
0.50 - 2.00
Expected volatility
34% - 39%
 
35% - 55%
Risk free interest rate
0.60% - 0.82%
 
0.07% - 0.51%
Schedule of stock-based awards granted in the consolidated statements of operations
The total stock-based compensation the Company recognized for stock-based awards in the consolidated statements of operations is as follows:
 
Three Months Ended March 31,
 
2017
 
2016
 
(in thousands)
Cost of revenue
$
271

 
$
272

Research and development
688

 
1,345

Sales and marketing
1,294

 
1,768

General and administrative
1,300

 
1,511

Total stock-based compensation
$
3,553

 
$
4,896


The following table presents stock-based compensation expense by award-type:
 
Three Months Ended March 31,
 
2017
 
2016
 
(in thousands)
Stock Options
$
883

 
$
1,146

Restricted Stock Units
2,270

 
3,147

Employee Stock Purchase Plan
400

 
603

Total stock-based compensation
$
3,553

 
$
4,896