Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events

Subsequent Events

11.Subsequent Events

In connection with the preparation of these unaudited Consolidated Financial Statements, an evaluation of subsequent events was performed through the date these unaudited Consolidated Financial Statements were issued.

On October 28, 2015, the Compensation Committee of the Board of Directors authorized stock option awards and restricted stock units to be granted on November 11, 2015 to our employees and the non-employee members of our Board of Directors. The stock options and restricted stock units vest over a range of one to four years.

On October 31, 2015, we entered into a separation, waiver and general release agreement (the “Separation Agreement”) with Eugene V. DeFelice, pursuant to which he resigned as Executive Vice President, General Counsel and Secretary, effective November 15, 2015. In exchange for Mr. DeFelice’s commitments under the Separation Agreement, including his commitment to provide post-employment transition and cooperation assistance regarding currently pending litigation and other ongoing legal matters as we reasonably request, extended non-compete and non-solicitation terms, a general release of claims and additional non-disclosure obligations, Mr. DeFelice is entitled to receive (i) up to two years base salary continuation, (ii) up to two times his annual target bonus amount, (iii) the premium costs associated with 18 months of continued group medical insurance coverage and (iv) continued vesting of currently outstanding equity awards under the terms of, and at the regular vesting schedule applicable, under our equity incentive plans and his prior equity incentive awards.

There are no other events that have occurred that would require adjustments to or disclosure in our unaudited Consolidated Financial Statements.