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Subsequent Events
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events

(16) Subsequent Events

 

In July 2017, the Company’s board of directors granted options to purchase 659,700 shares of the Company’s common stock to employees at a weighted-average exercise price of $23.60 per share. The stock options vest over periods ranging from two to four years based on continued service by the employee. The estimated total stock-based compensation expense associated with these stock options is $8.9 million and is expected to be recognized over a weighted average period of 3.9 years.

In July 2017, the Company’s board of directors awarded 278,500 restricted stock units to employees. The restricted stock units vest over a period of three years based on continued service by the employee. The estimated total stock-based compensation expense associated with these restricted stock units is $6.6 million and is expected to be recognized over a weighted average period of 3.0 years.

In July 2017, the Company’s board of directors awarded 278,500 performance-based restricted stock units to employees. The performance-based restricted stock units vest based on the Company achieving certain stock price thresholds which range from $35 per share to $55 per share for 30 consecutive trading days. The estimated total stock-based compensation expense associated with these restricted stock units is $7.6 million and is expected to be recognized over a weighted average period of 1.3 years.