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Stock-Based Compensation and Other Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 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:

 

     Year Ended     Nine Months Ended     Year Ended  
     December 31,     December 31,     March 31,  
     2013     2012     2012  

Assumed forfeiture rate (annual %)

     5.0     5.0     8.0

Expected dividend yield

     0.0     0.0     0.0

Weighted average assumed stock price volatility

     59.1     63.5     63.5

Weighted average risk-free rate

     1.46     1.01     1.15

Weighted average expected life (years)

     6.30        6.28        6.26   

Options Activity Under Option Plan

Options activity under the Option Plan is summarized as follows:

 

     Stock Options Issued
and
Outstanding
    Weighted
Average
Exercise Price
 

Balances, December 31, 2012

     10,255,222      $ 1.19   

Options Granted

     3,176,750        9.75   

Options Exercised

     (2,232,969     0.77   

Options Forfeited/Expired

     (370,321     1.90   
  

 

 

   

Balances, December 31, 2013

     10,828,682      $ 3.76   
  

 

 

   

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

A summary of outstanding options, vested options and options vested and expected to vest at December 31, 2013, is as follows:

 

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

Options Outstanding

     10,828,682         8.07       $ 3.76   

Vested Options

     3,875,734         6.93       $ 0.96   

Options Vested and Expected to Vest

     10,362,887         8.03       $ 3.63   
Summary by Exercise Price of Outstanding Options, Vested Options, Options Vested and Expected to Vest

A summary by weighted average exercise price of outstanding options, vested options, and options vested and expected to vest at December 31, 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

     4,994,901       6.88      3,072,543         4,921,642   

$1.01-$5.00

     3,076,531       8.59      776,508         2,915,612   

$5.01-$10.00

     1,150,750       9.37      25,059         1,067,147   

$10.01-$20.00

     1,606,500       9.85      1,624         1,458,486   
  

 

 

       

 

 

    

 

 

 

$0.01-$20.00

     10,828,682       8.07      3,875,734         10,362,887