Stock Plans (Tables)
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6 Months Ended |
Jun. 30, 2018 |
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| Summary of Assumptions Used for Computing Grant Date Fair Values of CEO Award and President Award |
The following assumptions were used in the Monte
Carlo simulation model for computing the grant date fair values of
the CEO Award and the President Award:
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Grant date stock price
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$ |
16.82 |
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Dividend yield
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|
— |
% |
|
Risk-free interest rate
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|
|
2.85 |
% |
|
Estimated volatility
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|
73.00 |
% |
|
| Summary of Fair Value Per Share Determined for Each of Three Equal Tranches of Award |
The fair value per share was determined for each of the three equal
tranches of each award and is presented in the table below:
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Tranche 1
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$ |
9.22 |
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Tranche 2
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|
$ |
10.05 |
|
|
Tranche 3
|
|
$ |
9.50 |
|
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| Schedule of Stock-based Compensation Expense |
The Company’s stock-based compensation expense recognized for
the periods presented was as follows:
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Three Months Ended
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Six Months Ended
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June 30, |
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June 30, |
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2018 |
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2017 |
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2018 |
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2017 |
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Stock-based compensation expense by type of award:
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Restricted stock units
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$ |
99 |
|
|
$ |
375 |
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$ |
147 |
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|
$ |
451 |
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Restricted stock awards
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|
|
135 |
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|
125 |
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|
353 |
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|
125 |
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Performance-based stock options
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|
53 |
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|
— |
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|
53 |
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|
— |
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Stock options
|
|
|
2,246 |
|
|
|
1,278 |
|
|
|
4,282 |
|
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|
1,327 |
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|
Employee stock purchase plan
|
|
|
118 |
|
|
|
— |
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|
290 |
|
|
|
— |
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Total
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$ |
2,651 |
|
|
$ |
1,778 |
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$ |
5,125 |
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$ |
1,903 |
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Three Months Ended
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Six Months
Ended |
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| |
|
June 30, |
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|
June 30, |
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| |
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2018 |
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2017 |
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|
2018 |
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|
2017 |
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Stock-based compensation expense by operating expense
grouping:
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Sales and marketing
|
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$ |
248 |
|
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$ |
116 |
|
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$ |
568 |
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$ |
155 |
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Research and development
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|
266 |
|
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|
92 |
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|
507 |
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|
104 |
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General and administrative
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|
2,137 |
|
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|
1,570 |
|
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|
4,050 |
|
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|
1,644 |
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|
|
|
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$ |
2,651 |
|
|
$ |
1,778 |
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$ |
5,125 |
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$ |
1,903 |
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| Schedule of Restricted Stock Activity |
The Company’s restricted stock activity for the six months
ended June 30, 2018 was as follows:
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| |
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Shares |
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|
Weighted
Average Grant
Date Fair Value |
|
|
Unvested at December 31, 2017
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|
147,456 |
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$ |
6.30 |
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Forfeited
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(1,975 |
) |
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$ |
7.50 |
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Vested
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(39,181 |
) |
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$ |
5.91 |
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Unvested at June 30, 2018
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|
106,300 |
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$ |
6.42 |
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| Schedule of Stock Option Activity |
The Company’s stock option activity for the six months ended
June 30, 2018 was as follows:
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Weighted-Average |
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Options |
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Exercise
Price |
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Remaining
Contractual
Term |
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Aggregate
Intrinsic
Value |
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Outstanding at December 31, 2017
|
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|
4,802,594 |
|
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$ |
13.89 |
|
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|
9.17 years |
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|
$ |
44,974 |
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Granted
|
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|
3,772,666 |
|
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$ |
20.39 |
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Exercised
|
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|
(121,158 |
) |
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$ |
3.83 |
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Forfeited
|
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|
(361,072 |
) |
|
$ |
17.03 |
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Expired
|
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|
(1,425 |
) |
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$ |
12.24 |
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Outstanding at June 30, 2018
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|
8,091,605 |
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$ |
16.93 |
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9.23 years |
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$ |
14,237 |
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Exercisable at June 30, 2018
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|
2,266,950 |
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$ |
13.13 |
|
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|
8.53 years |
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|
$ |
8,364 |
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| Restricted Stock Units [Member] |
|
| Schedule of Restricted Stock Activity |
The Company’s restricted stock unit activity for the six
months ended June 30, 2018 was as follows:
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| |
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Shares |
|
|
Weighted
Average Grant
Date Fair Value |
|
|
Unvested at December 31, 2017
|
|
|
35,576 |
|
|
$ |
14.76 |
|
|
Granted
|
|
|
42,350 |
|
|
$ |
16.26 |
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Vested
|
|
|
(41,144 |
) |
|
$ |
14.75 |
|
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Unvested at June 30, 2018
|
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|
36,782 |
|
|
$ |
16.50 |
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