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Stock incentive plans | 6 Months Ended
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Jun. 30, 2012
Stock incentive plans |
Stock incentive plans |
9. Stock incentive plans In March, 2011, our board of directors approved the 2011 Equity Incentive Plan (“2011 Plan”) under which 5,511,288 shares of common stock are reserved for issuance. The 2011 Plan provides for the grant of incentive and nonstatuatory stock options, stock appreciation rights, restricted shares of our common stock, stock units, and performance cash awards. As of January 1 of each year, the number of shares of common stock reserved for issuance under our stock incentive plan shall automatically be increased by a number equal to the lesser of (a) 4.5% of the total number of shares of common stock then outstanding, (b) 3,000,000 shares of common stock and (c) as determined by our board of directors. No further awards will be made under our Amended and Restated 2001Stock Incentive Plan (“2001 Plan”), which terminated pursuant to its term. Options outstanding under the 2001 Plan will continue to be governed by their existing terms. The weighted average assumptions used for newly issued stock option grants for the six months ended June 30, 2012 were an expected term of 6.1 years, an expected volatility of 49.9%, a risk free rate of return of 1.1% and no expected dividends. We recognized stock-based compensation expense as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Network operations |  | $ | 105 |  | $ | 92 |  | $ | 111 |  | $ | 110 |
Development and technology |  | 222 |  | 125 |  | 421 |  | 161 |
Selling and marketing |  | 191 |  | 134 |  | 401 |  | 174 |
General and administrative |  | 434 |  | 344 |  | 1,012 |  | 456 |
Total stock-based compensation |  | $ | 952 |  | $ | 695 |  | $ | 1,945 |  | $ | 901 |
A summary of the stock option activity under the Plan is as follows:
|  | Number of Options |  | Weighted Average Exercise Price |  | Weighted- Average Remaining Contract Life (years) |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2011 |  | 6,601 |  | $ | 5.50 |  | 7.0 |  | $ | 30,996 |
Granted |  | 379 |  | $ | 9.60 |  |  |  |  |
Exercised |  | (1,407 | ) | $ | 1.34 |  |  |  |  |
Cancelled/forfeited |  | (192 | ) | $ | 10.89 |  |  |  |  |
Outstanding at June 30, 2012 |  | 5,381 |  | $ | 6.68 |  | 6.96 |  | $ | 30,344 |
Vested and expected to vest at June 30, 2012 |  | 5,219 |  | $ | 6.49 |  | 6.91 |  | $ | 30,268 |
Exercisable at June 30, 2012 |  | 2,831 |  | $ | 2.08 |  | 5.26 |  | $ | 27,322 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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