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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2013
Black-Scholes Option Pricing Model to Estimate Fair Value of Stock Options Granted

We used the Black-Scholes option pricing model to estimate the fair value of stock options granted with the following assumptions:

 

     Nine Months Ended
September 30, 2013		  

Assumed forfeiture rate (annual %)

      5.0 % 

Expected dividend yield

      0.0 % 

Assumed stock price volatility

      63.5 % 

Weighted average risk-free rate

      1.10 % 

Expected life (years)

      6.25   
Options Activity Under Option Plan

Options activity under the Option Plan for the nine month period ended September 30, 2013 is summarized as follows:

 

     Stock Options Issued
and
Outstanding		     Weighted
Average
Exercise Price		  

Balances, at December 31, 2012

      10,255,222      $ 1.19   

Options Granted

      1,566,750        5.81   

Options Exercised

      (2,100,402 )      0.73   

Options Forfeited/Expired

      (232,689 )      2.03   
  

 

 

    

Balances, September 30, 2013

      9,488,881      $ 2.03   
  

 

 

    
Outstanding Options, Options Vested and Options Vested and Expected to Vest

A summary of outstanding options, options vested and options vested and expected to vest as of September 30, 2013, is as follows:

 

     Stock Options Issued
and
Outstanding		      Weighted Average
Remaining
Contractual Life
(Years)		      Weighted
Average
Exercise Price		  

Options Outstanding

      9,488,881         8.25       $ 2.03   

Options Vested

      3,125,677         7.21       $ 0.76   

Options Vested and Expected to Vest

      9,089,708         8.22       $ 1.98   
Summary by Exercise Price of Outstanding Options, Options Vested and Options Expected to Vest

A summary by weighted average exercise price of outstanding options, options vested, and options vested and expected to vest at September 30, 2013, is as follows:

 

Exercise Price

Range

    Stock Options
Outstanding		      Weighted Average
Remaining Contractual
Life of Outstanding Stock
Options (Years)		      Number of
Stock Options
Vested		      Number of Stock
Options Vested and
Expected to Vest		  

$0.01 - $1.00

      5,152,706         7.40         2,724,812         5,049,203   

$1.01 - $5.00

      3,187,925         9.13         388,654         2,989,216   

$5.01 - $10.00

      1,148,250         9.62         12,211         1,051,289   
  

 

 

        

 

 

     

 

 

  

$0.01 - $10.00

      9,488,881         8.25         3,125,677         9,089,708