Stock Options and Warrants (Tables)
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9 Months Ended |
Sep. 30, 2015 |
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| Equity [Abstract] |
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| Schedule of Stock Options, Valuation Assumptions |
Fair values of the stock options at September 30, 2015 and 2014 were determined using the Black-Scholes model and the following weighted average assumptions:
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Nine Months Ended September 30, |
|
2015 |
|
2014 |
Common stock price on grant date |
$12.90 |
|
$11.42 |
Expected life (in years) |
3.8 |
|
|
4.0 |
|
Risk-free interest rate |
1.30 |
% |
|
1.54 |
% |
Expected stock volatility |
43 |
% |
|
59 |
% |
Expected dividend yield |
— |
% |
|
— |
% |
Fair value of stock options granted |
$4.41 |
|
$5.15 |
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| Schedule of Share-based Compensation, Stock Options, Activity |
Stock option activity for the nine months ended September 30, 2015 is as follows:
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Shares (in thousands) |
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Weighted Average Exercise Price |
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Weighted Average Remaining Contractual Term (in years) |
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Aggregate Intrinsic Value (in thousands) |
Outstanding at January 1, 2015 |
5,771 |
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|
$ |
10.64 |
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|
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Granted |
1,443 |
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|
12.94 |
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Exercised |
(557 |
) |
|
9.82 |
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Forfeited |
(867 |
) |
|
11.13 |
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Outstanding at September 30, 2015 |
5,790 |
|
|
$ |
11.22 |
|
|
4.01 |
|
$ |
4,998 |
|
Vested and expected to vest at September 30, 2015 |
5,126 |
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|
$ |
11.13 |
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|
3.87 |
|
$ |
4,685 |
|
Exercisable at September 30, 2015 |
2,259 |
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$ |
10.60 |
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|
3.08 |
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$ |
2,740 |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following summarizes select information regarding our RSUs during the nine months ended September 30, 2015:
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Units (in thousands) |
|
Weighted Average Grant Date Fair Value |
|
Aggregate Intrinsic Value (in thousands) |
Outstanding at January 1, 2015 |
59 |
|
|
$ |
12.90 |
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|
|
Granted |
408 |
|
|
12.88 |
|
|
|
Vested |
(48 |
) |
|
12.90 |
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|
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Forfeited |
(13 |
) |
|
12.98 |
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Balance nonvested at September 30, 2015 |
406 |
|
|
12.88 |
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$ |
4,658 |
|
Vested and expected to vest at September 30, 2015 |
295 |
|
|
$ |
12.89 |
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|
$ |
3,391 |
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| Schedule of Share-based Compensation Expense Allocation |
Stock-based compensation expense related to all employee and non-employee stock-based awards for the three and nine months ended September 30, 2015 and 2014 was as follow, (in thousands):
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Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2015 |
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2014 |
|
2015 |
|
2014 |
Cost of services |
$ |
81 |
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|
$ |
6 |
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$ |
246 |
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$ |
6 |
|
Sales and marketing expenses |
177 |
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|
14 |
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|
540 |
|
|
14 |
|
Product development |
262 |
|
|
53 |
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|
771 |
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|
53 |
|
General and administrative |
1,627 |
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|
1,823 |
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|
4,691 |
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|
6,412 |
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Total stock-based compensation expense |
$ |
2,147 |
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$ |
1,896 |
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$ |
6,248 |
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$ |
6,485 |
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| Schedule of Share-based Compensation, Warrants, by Exercise Price Range |
The following is a summary of non-public warrants outstanding as of September 30, 2015 that the Company assumed in the Business Combination:
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Weighted Average Exercise Price per Warrant |
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Number of Warrants (as converted) (in thousands) |
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Weighted Average Remaining Life
(in years)
|
Common stock warrants |
$ |
8.79 |
|
|
690 |
|
|
1.47 |
Series C Preferred stock warrants |
8.74 |
|
|
734 |
|
|
1.68 |
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| Schedule of Share-based Compensation, Warrants, Activity |
Public warrants activity for the nine months ended September 30, 2015 is as follows:
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Global Eagle Warrants |
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Number of Warrants (in thousands) |
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Weighted Average Exercise price |
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Weighted Average Remaining Contractual Term (in years) |
Outstanding at January 1, 2015 |
|
10,149 |
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|
$ |
11.50 |
|
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Exercises and exchanges |
|
(3,065 |
) |
|
11.50 |
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|
Outstanding and exercisable at September 30, 2015 |
|
7,084 |
|
|
$ |
11.50 |
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|
2.34 |
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