v3.8.0.1
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 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 September 30, 2017:
 
 
 
Shares Available for Grant
 
 
Balance, December 31, 2016
5,116,753

Authorized
2,612,263

Options granted

Options canceled
1,436,112

Awards granted
(3,287,665
)
Awards canceled
1,595,966

Balance, September 30, 2017
7,473,429

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
(409,065
)
 
1.73

 
 
 
 
Options canceled
(1,436,112
)
 
7.74

 
 
 
 
Balance, September 30, 2017
4,374,597

 
$
6.04

 
6.07
 
$
2,732

Options exercisable, September 30, 2017
3,439,751

 
$
5.81

 
5.57
 
$
2,732

Summary of RSU activity and related information
summary of the Company’s RSU activity and related information for the three months ended September 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
3,287,665

 
4.96

Awards vested
(1,453,616
)
 
5.92

Awards canceled
(1,320,044
)
 
6.14

Balance, September 30, 2017
4,879,675

 
$
5.49

Summary of the assumptions related to stock options
Weighted-average assumptions for the Company's stock options granted were as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Stock options:
 
 
 
 
 
 
 
Expected term (in years)
N/A
 
5.85

 
N/A
 
5.78

Expected volatility
N/A
 
53.18
%
 
N/A
 
55.09
%
Risk free interest rate
N/A
 
1.15
%
 
N/A
 
1.49
%
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 September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
MBRSUs:
 
 
 
 
 
 
 
Expected volatility
N/A
 
N/A
 
46
%
 
53
%
Risk free interest rate
N/A
 
N/A
 
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 September 30,
 
Nine Months Ended September 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 September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
 
(in thousands)
Cost of revenue
$
313

 
$
431

 
$
860

 
$
1,024

Research and development
1,329

 
1,576

 
3,082

 
4,287

Sales and marketing
1,566

 
2,505

 
4,361

 
6,336

General and administrative
1,756

 
1,903

 
4,658

 
5,118

Total stock-based compensation
$
4,964

 
$
6,415

 
$
12,961

 
$
16,765


The following table presents stock-based compensation expense by award-type:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
 
(in thousands)
Stock Options
$
652

 
$
1,336

 
$
2,355

 
$
3,667

Restricted Stock Units
3,945

 
4,353

 
9,408

 
11,044

Employee Stock Purchase Plan
367

 
726

 
1,198

 
2,054

Total stock-based compensation
$
4,964

 
$
6,415

 
$
12,961

 
$
16,765