Common Stock, Stock-Based Awards and Warrants (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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| Equity [Abstract] |
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| Schedule of Stock Options, Valuation Assumptions |
air values of stock options issued were determined on the grant date using the Black-Scholes option pricing model and the following level 3 assumptions for the years ended December 31, 2017, 2016 and 2015, respectively:
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2017 |
|
2016 |
|
2015 |
Common stock price on grant date |
$ |
2.74 |
|
|
$ |
8.34 |
|
|
$ |
12.91 |
|
Expected life (in years) |
4.75 |
|
|
3.91 |
|
|
3.77 |
|
Risk-free interest rate |
2.26 |
% |
|
1.15 |
% |
|
1.28 |
% |
Expected stock volatility |
52 |
% |
|
44 |
% |
|
43 |
% |
Expected dividend yield |
0 |
% |
|
0 |
% |
|
0 |
% |
Fair value of stock options granted |
$ |
0.93 |
|
|
$ |
2.93 |
|
|
$ |
4.41 |
|
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| Schedule of Share-based Compensation, Stock Options, Activity |
Stock option activity for year ended December 31, 2017 is as follows:
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Shares
(in thousands)
|
|
Weighted Average Exercise Price |
|
Weighted Average Remaining Contractual Term (in years) |
|
Aggregate Intrinsic Value
(in thousands)
|
Balance unexercised at January 1, 2017 |
6,723 |
|
|
$ |
10.37 |
|
|
2.70 |
|
$ |
59 |
|
Granted |
2,115 |
|
|
$ |
4.63 |
|
|
|
|
|
|
Exercised |
— |
|
|
$ |
— |
|
|
|
|
|
Forfeited |
(1,761 |
) |
|
$ |
9.95 |
|
|
|
|
|
Balance unexercised at December 31, 2017 |
7,077 |
|
|
$ |
8.76 |
|
|
2.60 |
|
$ |
— |
|
Exercisable at December 31, 2017 |
4,794 |
|
|
$ |
9.92 |
|
|
1.58 |
|
$ |
— |
|
Vested and expected to vest after December 31, 2017 |
7,077 |
|
|
$ |
8.76 |
|
|
2.60 |
|
$ |
— |
|
|
| Schedule of Share-based Compensation, Stock Options, by Exercise Price Range |
The following is a summary of the Company’s stock options outstanding at December 31, 2017:
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Range of Exercise Price |
Number Outstanding
(in thousands)
|
|
Weighted Average Remaining Contractual Term (in years) |
|
Weighted Average Exercise Price |
|
Number Exercisable
(in thousands)
|
|
Weighted Average Exercise Price |
$16.70 - $16.70 |
21 |
|
|
0.14 |
|
$ |
16.70 |
|
|
21 |
|
|
$ |
16.70 |
|
$13.26 - $16.06 |
183 |
|
|
1.89 |
|
$ |
14.30 |
|
|
139 |
|
|
$ |
14.55 |
|
$12.51 - $13.15 |
1,015 |
|
|
2.09 |
|
$ |
12.95 |
|
|
780 |
|
|
$ |
12.98 |
|
$10.57 - $11.43 |
808 |
|
|
1.22 |
|
$ |
10.76 |
|
|
731 |
|
|
$ |
10.76 |
|
$10.00 - $10.00 |
1,345 |
|
|
0.33 |
|
$ |
10.00 |
|
|
1,345 |
|
|
$ |
10.00 |
|
$9.31 - $9.79 |
425 |
|
|
0.38 |
|
$ |
9.62 |
|
|
425 |
|
|
$ |
9.62 |
|
$6.34 - 9.25 |
1,021 |
|
|
2.83 |
|
$ |
8.77 |
|
|
637 |
|
|
$ |
8.73 |
|
$6.22 - $6.22 |
1,000 |
|
|
3.67 |
|
$ |
6.22 |
|
|
530 |
|
|
$ |
6.22 |
|
$6.18 - $6.18 |
144 |
|
|
3.02 |
|
$ |
6.18 |
|
|
67 |
|
|
$ |
6.18 |
|
$3.21 - $3.21 |
1,115 |
|
|
6.61 |
|
$ |
3.21 |
|
|
119 |
|
|
$ |
3.21 |
|
|
7,077 |
|
|
2.60 |
|
$ |
8.76 |
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|
4,794 |
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|
$ |
9.92 |
|
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| Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
RSU activity during the year ended December 31, 2017 was as follows:
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Shares (in thousands) |
|
Weighted Average Grant Date Fair Value |
|
Aggregate Intrinsic Value (in thousands) |
Balance nonvested at January 1, 2017 |
1,638 |
|
|
$ |
8.60 |
|
|
$ |
10,579 |
|
Granted |
3,911 |
|
|
$ |
2.67 |
|
|
|
Vested |
(368 |
) |
|
$ |
8.64 |
|
|
|
Forfeited |
(590 |
) |
|
$ |
8.48 |
|
|
|
Balance nonvested at December 31, 2017 |
4,591 |
|
|
$ |
3.56 |
|
|
$ |
10,512 |
|
Vested and expected to vest at December 31, 2017 |
4,533 |
|
|
$ |
3.47 |
|
|
$ |
10,381 |
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| Schedule of Share-based Compensation Expense Allocation |
Stock-based compensation expense related to all employee and, where applicable, non-employee stock-based awards was as follows for the years ended December 31, 2017, 2016 and 2015 (in thousands):
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Year Ended December 31, |
|
2017 |
|
2016 |
|
2015 |
Consolidated Statement of Operations Classification: |
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|
Cost of sales |
$ |
300 |
|
|
$ |
313 |
|
|
$ |
322 |
|
Sales and marketing |
423 |
|
|
629 |
|
|
701 |
|
Product development |
634 |
|
|
994 |
|
|
1,020 |
|
General and administrative |
6,228 |
|
|
8,811 |
|
|
6,192 |
|
Total |
$ |
7,585 |
|
|
$ |
10,747 |
|
|
$ |
8,235 |
|
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| Schedule of Share-based Compensation, Warrants, Activity |
The following is a summary of Public SPAC Warrants for the year ended December 31, 2017:
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Number of Warrants (in thousands) |
|
Weighted Average Exercise price |
|
Weighted Average Remaining Contractual Term (in years) |
Outstanding at January 1, 2017 |
6,173 |
|
|
$ |
11.50 |
|
|
|
Granted |
— |
|
|
— |
|
|
|
Exercised |
— |
|
|
— |
|
|
|
Purchased |
— |
|
|
— |
|
|
|
Exchanged for Global Eagle common stock |
— |
|
|
— |
|
|
|
Forfeited |
— |
|
|
— |
|
|
|
Outstanding and exercisable at December 31, 2017 |
6,173 |
|
|
$ |
11.50 |
|
|
0.09 |
|