v3.3.1.900

Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2015
Stock options |
Schedule of stock-based compensation expense included in the consolidated statements of operations |
|  | Year Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
|  | (in thousands) |
Servicing and support |  | $ | 2,270 |  | $ | 1,468 |  | $ | 364 |
Technology and content development |  |  | 1,548 |  |  | 794 |  |  | 159 |
Program marketing and sales |  |  | 1,057 |  |  | 676 |  |  | 178 |
General and administrative |  |  | 7,624 |  |  | 4,589 |  |  | 1,725 |
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Total stock-based compensation expense |  | $ | 12,499 |  | $ | 7,527 |  | $ | 2,426 |
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Summary assumptions used for estimating the fair value of the stock options granted |
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Risk-free interest rate |  | 1.5% - 1.9% |  | 1.7% - 2.1% |  | 0.9% - 2.0%
Expected term (years) |  | 5.56 - 6.08 |  | 5.11 - 6.25 |  | 5.54 - 6.31
Expected volatility |  | 50% |  | 50% - 55% |  | 55% - 58%
Dividend yield |  | 0% |  | 0% |  | 0%
Weighted average grant date fair value |  | $12.54 |  | $5.71 |  | $4.58
Summary of stock 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, 2014 |  |  | 5,850,211 |  | $ | 5.39 |  |  | 7.33 |  | $ | 83,487 |
Granted |  |  | 692,814 |  |  | 25.73 |  |  | 9.04 |  |  |  |
Exercised |  |  | (1,141,731 | ) |  | 4.67 |  |  | 5.76 |  |  |  |
Forfeited |  |  | (96,441 | ) |  | 12.34 |  |  |  |  |  |  |
Expired |  |  | (6,343 | ) |  | 12.13 |  |  |  |  |  |  |
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Outstanding balance at December 31, 2015 |  |  | 5,298,510 |  |  | 8.07 |  |  | 6.66 |  |  | 105,595 |
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Exercisable at December 31, 2015 |  |  | 3,426,496 |  |  | 4.30 |  |  | 5.77 |  |  | 81,131 |
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Vested and expected to vest at December 31, 2015 |  |  | 5,161,978 |  |  | 7.82 |  |  | 6.61 |  |  | 104,132 |
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Summary of the number of shares of common stock subject to stock options granted during the period, as well as the associated exercise price per share and the estimated fair value per share of the Company's common stock on the grant date. |
Grant Date |  | Number of Shares Underlying Options Granted |  | Exercise Price per Share |  | Estimated Grant Date Fair Value per Share |
January 1, 2015 |  |  | 3,518 |  | $ | 19.66 |  | $ | 19.66 |
January 2, 2015 |  |  | 14,888 |  |  | 19.48 |  |  | 19.48 |
April 1, 2015 |  |  | 608,746 |  |  | 25.52 |  |  | 25.52 |
June 1, 2015 |  |  | 28,770 |  |  | 28.23 |  |  | 28.23 |
June 3, 2015 |  |  | 10,629 |  |  | 28.58 |  |  | 28.58 |
July 1, 2015 |  |  | 19,743 |  |  | 30.83 |  |  | 30.83 |
October 1, 2015 |  |  | 6,520 |  |  | 32.20 |  |  | 32.20 |
Restricted Stock Units |
Summary of restricted stock unit activity |
|  | Number of Restricted Stock Units |  | Weighted-Average Grant Date Fair Value |
Outstanding balance at December 31, 2014 |  |  | 992,665 |  | $ | 11.39 |
Granted |  |  | 585,765 |  |  | 25.74 |
Vested |  |  | (272,128 | ) |  | 11.54 |
Forfeited |  |  | (86,294 | ) |  | 15.20 |
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Outstanding balance at December 31, 2015 |  |  | 1,220,008 |  |  | 17.97 |
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- 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 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F + Details
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- 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) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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