Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2017

Stock option activity for the three months ended March 31, 2017 is presented below (in thousands, except per share data and contractual term):

				Weighted -		Weighted -
				Average		Average
				Exercise		Remaining		Aggregate
	Number			Price Per		Contractual		Intrinsic
	of Shares			Share		Term (in years)		Value
Outstanding at December 31, 2016		1,540		$	34.35
Granted		—			—
Exercised		(63	)		30.15
Forfeited		(21	)		33.86
Outstanding at March 31, 2017		1,456		$	34.54		6.29	$	7,605
Exercisable at March 31, 2017		856		$	33.80		5.18	$	5,094
Vested and expected to vest at March 31, 2017		1,456		$	34.54		6.29	$	7,605

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the three months ended March 31, 2017 is presented below (in thousands, except per share data):

				Weighted-
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2016		539		$	35.50
Granted		11			39.55
Vested		(4	)		32.83
Forfeited		(10	)		35.29
Unvested at March 31, 2017		536		$	35.61

Summary of Stock-Based Compensation Expense Recorded in Expense Categories

Stock-based compensation was recorded in the following expense categories (in thousands):

	Three Months Ended
	March 31,
	2017		2016
Cost of services and fulfillment	$	1,197	$	1,194
Selling and marketing		162		314
General and administrative		690		627
Total	$	2,049	$	2,135

Shares Subject to Employee Stock Purchase Plan Valuation Assumptions

Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions:

	Three Months Ended
	March 31,
	2017			2016
Average risk-free interest rate		0.88	%		0.47	%
Expected dividend yield		1.9	%		2.3	%
Expected life	0.5 Years			0.5 Years
Expected volatility		28	%		27	%
Weighted average fair value	$	8.49		$	7.06