v3.10.0.1
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2018
Stock-Based Compensation  
Schedule of stock-based compensation expense included in the consolidated statements of operations and comprehensive loss

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2018

 

2017

 

2018

 

2017

 

 

 

(in thousands)

 

Curriculum and teaching

 

$
5

 

$

—

 

$
7

 

$

—

 

Servicing and support

 
1,320

 
1,161

 
2,192

 
1,856

 

Technology and content development

 
1,075

 
897

 
1,786

 
1,543

 

Marketing and sales

 
718

 
430

 
1,207

 
772

 

General and administrative

 
5,891

 
3,007

 
10,939

 
5,219

 

 

 

 

 

 

 

 

 

 

 

Total stock-based compensation expense

 

$
9,009

 

$
5,495

 

$
16,131

 

$
9,390

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 
655,524

 
84.12

 

Exercised

 
(501,531

)
9.56

 

Forfeited

 
(53,531

)
35.69

 

Expired

 

—

 

—

 

 

 

 

 

 

 

Outstanding balance at June 30, 2018

 
4,659,638

 
25.17

 

 

 

 

 

 

 

Exercisable at June 30, 2018*

 
3,201,819

 
11.26

 

 

 

 

 

 

 

 

*As of June 30, 2018, the aggregate intrinsic value of options exercisable was $231.5 million and such shares had a weighted-average remaining contractual term of 4.73 years.

 

 

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

 
440,818

 
81.39

 

Vested

 
(517,050

)
23.34

 

Forfeited

 
(56,564

)
36.38

 

 

 

 

 

 

 

Outstanding balance at June 30, 2018

 
1,280,627

 
50.04