Quarterly report pursuant to Section 13 or 15(d)

Common Stock, Stock Options and Warrants (Tables)

v3.4.0.3
Common Stock, Stock Options and Warrants (Tables)
 3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Schedule of Stock Options, Valuation Assumptions
Fair values of the stock options at March 31, 2016 and 2015 were determined using the Black-Scholes model and the following weighted average assumptions:
 
Three Months Ended March 31,
 
2016
 
2015
Common stock price on grant date
$9.22
 
$13.14
Expected life (in years)
3.8

 
4.0

Risk-free interest rate
1.24
%
 
1.31
%
Expected stock volatility
44.6
%
 
50
%
Expected dividend yield
—
%
 
—
%
Fair value of stock options granted
$3.23
 
$5.37
Schedule of Share-based Compensation, Stock Options, Activity
Stock option activity for the three months ended March 31, 2016 is as follows:

Global Eagle Stock Option Plan
Shares (in thousands)
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2016
5,625

 
$
11.20

 

 


Granted
599

 
$
9.22

 

 
 
Exercised
(26
)
 
$
9.87

 

 
 
Forfeited
(81
)
 
$
12.34

 

 
 
Outstanding at March 31, 2016
6,117

 
$
11.00

 
3.17
 
$
2

Vested and expected to vest at March 31, 2016
5,544

 
$
10.97

 
3.09
 
$
1

Exercisable at March 31, 2016
2,898

 
$
10.77

 
2.64
 
$
—

Schedule of Nonvested Restricted Stock Units Activity
The following summarizes select information regarding our RSUs during the three months ended March 31, 2016:

 
Units (in thousands)
 
Weighted Average Grant Date Fair Value
 
Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2016
408

 
$
12.71

 
 
Granted
269

 
$
9.18

 
 
Vested
(32
)
 
$
13.14

 
 
Forfeited
(15
)
 
$
11.98

 
 
Balance nonvested at March 31, 2016
630

 
$
11.20

 
$
5,368

Vested and expected to vest at March 31, 2016
468

 
$
11.27

 
$
3,990

Schedule of Share-based Compensation Expense Allocation
Stock-based compensation expense related to all employee and non-employee stock-based awards for the three months ended March 31, 2016 and 2015 were as follow, (in thousands):

 
 
Three Months Ended March 31,
 
 
2016
 
2015
Stock-based compensation expense:
 
 
 
 
Cost of services
 
$
75

 
$
41

Sales and marketing expenses
 
168

 
26

Product development
 
248

 
313

General and administrative
 
1,578

 
2,170

Total stock-based compensation expense
 
$
2,069

 
$
2,550

Schedule of Share-based Compensation, Warrants, by Exercise Price Range
The following is a summary of non-public warrants outstanding as of March 31, 2016 that the Company assumed in the Business Combination:


Weighted Average Exercise Price per Warrant
 
Number of Warrants (as converted) (in thousands)
 
Weighted Average Remaining Life
(in years)
Common stock warrants
$
8.79

 
690

 
0.97
Series C Preferred stock warrants
$
8.74

 
477

 
1.19
Schedule of Share-based Compensation, Warrants, Activity
The following is a summary of public warrants outstanding as of March 31, 2016. For the three months ended March 31, 2016 there was no activity.

Public Warrants
 
Number of Warrants (in thousands)
 
Weighted Average Exercise price
 
Weighted Average Remaining Contractual Term (in years)
Outstanding and exercisable at March 31, 2016
 
6,173

 
$
11.50

 
1.84