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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock-Based Compensation Expense Related to Employee Stock Options

The following table summarizes stock-based compensation expense related to employee stock options under ASC 718-10 included in Company’s statements of operations for the periods presented (amounts in thousands):



	Three Months Ended
	March 31,
	2014		2013
Cost of revenue	$	360	$	420
Sales and marketing expense	814		746
Product development expense	680		870
General and administrative expense	843		1,015
Total stock based compensation included in costs and expenses	$	2,697	$	3,051

Weighted Average Assumptions of Fair Value Options Using Black-Scholes Option-Pricing Model

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:



	Three Months Ended
	March 31,
	2014	2013
Dividend yield	0.0%	0.0%
Risk-free interest rate	1.5%	0.9%
Expected life (in years)	5	5
Historical volatility	53.7%	58.7%

Summary of Stock Option Activity and Weighted Average Exercise Prices

A summary of the Company’s stock option activity and weighted average exercise prices follows:



	Options		Weighted Average Exercise Price
Options outstanding at December 31, 2013	9,724,193		$	10.86
Options granted	563,500		13.22
Options exercised	(222,083	)	9.17
Options cancelled	(387,028	)	14.25
Options outstanding at March 31, 2014	9,678,582		10.90
Options exercisable at March 31, 2014	4,205,765		$	8.94

Summary of Status of Nonvested Shares

A summary of the status of the Company’s nonvested shares as of December 31, 2013, and changes during the three months ended March 31, 2014 is as follows:



	Options		Weighted Average Grant- Date Fair Value
Nonvested Shares at December 31, 2013	5,633,701		$	6.90
Granted	563,500		6.25
Vested	(337,356	)	5.83
Cancelled	(387,028	)	7.23
Nonvested Shares at March 31, 2014	5,472,817		$	6.28

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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