v3.7.0.1
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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 June 30, 2017:
 
 
 
Shares Available for Grant
 
 
Balance, December 31, 2016
5,116,753

Authorized
2,612,263

Options granted

Options canceled
905,082

Awards granted
(3,191,974
)
Awards canceled
1,203,643

Balance, June 30, 2017
6,645,767

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
(396,865
)
 
1.75

 
 
 
 
Options canceled
(905,082
)
 
7.16

 
 
 
 
Balance, June 30, 2017
4,917,827

 
$
6.31

 
5.85
 
$
3,694

Options exercisable, June 30, 2017
3,743,487

 
$
6.11

 
5.15
 
$
3,689

Summary of RSU activity and related information
summary of the Company’s RSU activity and related information for the three months ended June 30, 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
3,191,974

 
4.97

Awards vested
(970,734
)
 
5.09

Awards canceled
(1,108,066
)
 
6.20

Balance, June 30, 2017
5,478,844

 
$
5.55

Summary of the assumptions related to stock options
Weighted-average assumptions for the Company's stock options granted were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Stock options:
 
 
 
 
 
 
 
Expected term (in years)
N/A
 
5.77

 
N/A
 
5.78

Expected volatility
N/A
 
55.11
%
 
N/A
 
55.16
%
Risk free interest rate
N/A
 
1.50
%
 
N/A
 
1.50
%
Schedule of share based payment award, equity other than options, valuation [Table Text Block]
Weighted-average assumptions to value MBRSUs under the Monte Carlo model were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
MBRSUs:
 
 
 
 
 
 
 
Expected volatility
46
%
 
53
%
 
46
%
 
53
%
Risk free interest rate
1.45
%
 
1.07
%
 
1.45
%
 
1.07
%
Weighted average assumptions used to value employee stock purchase rights
Weighted-average assumptions to value employee stock purchase rights under the Black-Scholes model were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
ESPP purchase rights:
 
 
 
 
 
 
 
Expected term (in years)
0.50 - 1.00
 
0.50 - 2.00
 
0.50 - 1.00
 
0.50 - 2.00
Expected volatility
34% - 39%
 
35% - 55%
 
34% - 39%
 
35% - 55%
Risk free interest rate
0.60% - 1.07%
 
0.07% - 0.51%
 
0.60% - 1.07%
 
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 June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(in thousands)
Cost of revenue
$
276

 
$
321

 
$
547

 
$
593

Research and development
1,065

 
1,366

 
1,753

 
2,711

Sales and marketing
1,501

 
2,063

 
2,795

 
3,831

General and administrative
1,602

 
1,704

 
2,902

 
3,215

Total stock-based compensation
$
4,444

 
$
5,454

 
$
7,997

 
$
10,350


The following table presents stock-based compensation expense by award-type:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(in thousands)
Stock Options
$
820

 
$
1,185

 
$
1,703

 
$
2,331

Restricted Stock Units
3,193

 
3,544

 
5,463

 
6,691

Employee Stock Purchase Plan
431

 
725

 
831

 
1,328

Total stock-based compensation
$
4,444

 
$
5,454

 
$
7,997

 
$
10,350