Stock-based Compensation

3 Months Ended

Mar. 31, 2015

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

Stock-Based Compensation

The following table presents information regarding stock options granted, exercised and forfeited for the periods presented:



	Number Of Options		Weighted-Average Exercise Price		Aggregate Intrinsic Value
					(in thousands)
December 31, 2014	5,112,556		$	3.19	$	21,116
Granted	57,374		7.36
Exercised	(330,875	)	1.58		2,068
Forfeited	(161,463	)	8.79
March 31, 2015	4,677,592		3.16		23,564

Vested and exercisable at March 31, 2015	3,415,825		$	1.93	$	20,833

As of March 31, 2015, the stock options outstanding had a remaining contractual life of 6.40 years.

Stock-based compensation expense includes stock options and restricted stock granted to employees and non-employees and has been reported in the Company’s statements of operations in claims expenses, other cost of revenue, sales and marketing, technology and development, and general and administrative expenses depending on the function performed by the employee or non-employee. The Company measures compensation expense on a straight-line basis except for restricted stock with a performance condition which is measured on a graded vesting schedule. The remaining 584,385 shares of unvested restricted stock measured on a graded vesting schedule are expected to vest over the remaining service term of approximately 4.50 years.

As of March 31, 2015, the Company had unrecognized stock-based compensation of $6.2 million related to stock options and restricted stock held by employees and non-employees, which is expected to vest over a weighted-average period of approximately 2.35 years. As of March 31, 2015, the Company had 1,261,767 unvested stock options and 592,625 restricted stock awards that are expected to vest. No net tax benefits related to the stock-based compensation costs have been recognized since the Company’s inception. The expense recognized in each category is provided in the table below:



	Three Months Ended March 31,
	2015		2014
	(in thousands)
Claims expenses	$	53	$	57
Other cost of revenue	16		24
Sales and marketing	130		149
Technology and development	121		98
General and administrative	383		239
Total stock-based compensation	$	703	$	567

- 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.

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