v3.8.0.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2018
Stock-Based Compensation  
Schedule of stock-based compensation expense included in the consolidated statements of operations and comprehensive loss

 

 

 

Three Months Ended
March 31,

 

 

 

2018

 

2017

 

 

 

(in thousands)

 

Curriculum and teaching

 

$
2

 

$

—

 

Servicing and support

 
872

 
695

 

Technology and content development

 
711

 
646

 

Program marketing and sales

 
489

 
342

 

General and administrative

 
5,048

 
2,212

 

 

 

 

 

 

 

Total stock-based compensation expense

 

$
7,122

 

$
3,895

 

 

 

 

 

 

 

 

 

 

Summary of stock option activity

 

 

 

Number of
Options

 

Weighted-Average
Exercise Price per
Share

 

Outstanding balance at December 31, 2017

 
4,559,176

 

$
15.10

 

Granted

 
8,731

 
64.51

 

Exercised

 
(186,049

)
11.40

 

Forfeited

 
(47,246

)
36.50

 

Expired

 

—

 

—

 

Outstanding balance at March 31, 2018

 
4,334,612

 
15.12

 

Exercisable at March 31, 2018*

 
3,265,262

 
9.21

 

 

 

*As of March 31, 2018, the aggregate intrinsic value of options exercisable was $244.3 million and such shares had a weighted-average remaining contractual term of 4.71 years.

 

Restricted Stock Units  
Stock-Based Compensation  
Summary of restricted stock unit activity

 

 

 

Number of
Restricted
Stock Units

 

Weighted-
Average Grant
Date Fair Value

 

Outstanding balance at December 31, 2017

 
1,413,423

 

$
29.95

 

Granted

 
64,184

 
64.51

 

Vested

 
(167,595

)
11.45

 

Forfeited

 
(28,132

)
35.67

 

 

 

 

 

 

 

Outstanding balance at March 31, 2018

 
1,281,880

 
33.97