v2.4.0.8

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

Stock-Based Compensation

Schedule of stock-based compensation expense included in the unaudited condensed consolidated statements of operations

		Three Months Ended March 31,
		2013			2014
		(in thousands)
Servicing and support		$	92		$	213
Technology and content development		23			83
Program marketing and sales		38			103
General and administrative		283			796
Total stock-based compensation expense		$	436		$	1,195

Summary of option activity

		Number of Options		Weighted-Average Exercise Price per Share			Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding balance at December 31, 2013		5,883,885		$	3.53		7.45		$	36,884
Granted		1,239,857		11.05			9.90
Exercised		(135,456	)	1.93			6.38
Forfeited		(249,448	)	1.65
Expired		—		—
Outstanding balance at March 31, 2014		6,738,838		5.02			7.92		58,176
Exercisable at March 31, 2014		3,171,036		2.34			6.62		35,855
Vested and expected to vest at March 31, 2014		6,489,257		4.93			7.88		56,616

X

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 1

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-Publisher FASB

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-Subparagraph (SAB TOPIC 14.F)

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-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

-Section F



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-Publisher FASB

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-Paragraph 2

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X

- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

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