Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Warrants (Tables)

v2.4.0.8
Stock Options and Warrants (Tables)
 3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Schedule of Stock Options, Valuation Assumptions
Fair values of the stock options at March 31, 2014 and 2013 were determined using the Black-Scholes model and the following weighted average level 3 assumptions:

 
Three Months Ended March 31,
 
2014
 
2013
Common stock price on grant date
$16.88
 
$9.98
Expected life (in years)
4.00

 
4.87

Risk-free interest rate
1.75
%
 
0.77
%
Expected stock volatility
65
%
 
50
%
Expected dividend yield
—
%
 
—
%
Fair value of stock options granted
$8.48
 
$3.82
Schedule of Share-based Compensation, Stock Options, Activity
Stock option activity for three months ended March 31, 2014 is as follows:

Global Eagle Stock Option Plan
Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value
Outstanding at January 1, 2014
5,285,000

 
$
10.86

 

 


Granted
25,000

 
16.88

 

 
 
Exercised
(50,000
)
 
8.88

 

 
 
Forfeited (as restated)
(177,083
)
 
9.79

 

 
 
Outstanding at March 31, 2014 (as restated)
5,082,917

 
10.94

 
4.32
 
 
Expected to vest at March 31, 2014
3,288,167

 
11.05

 
4.23
 
4.77

Exercisable at March 31, 2014
972,708

 
$
10.51

 
3.68
 
$
5.27

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, 2014 and 2013 were as follow, (in thousands):


 
Three Months Ended 
 March 31,
 
2014
 
2013
Stock-based compensation expense:
 
 
 
Cost of services
$
—

 
$
—

Sales and marketing expenses
—

 
—

Product development
—

 
—

General and administrative
2,616

 
496

Total stock-based compensation expense
$
2,616

 
$
496

Schedule of Share-based Compensation, Warrants, by Exercise Price Range
The following is a summary of all Row 44 warrants converted to warrants to purchase GEE common stock (exercise price per warrant and number of warrants presented using the conversion ratio to Global Eagle common stock used in the Row 44 Merger) outstanding at March 31, 2014:


Weighted Average Exercise Price per Warrant
 
Number of Warrants (as converted)
 
Weighted Average Remaining Life
(in years)
Common stock warrants
$
9.45

 
721,897

 
2.87
Series C Preferred stock warrants
$
8.74

 
734,451

 
3.19
Schedule of Share-based Compensation, Warrants, Activity
The following is a summary of warrants originally issued by GEAC, including public and privately placed warrants, for the three months ended March 31, 2014:

Global Eagle Warrants
 
Number of Warrants
 
Weighted Average Exercise price
 
Weighted Average Remaining Contractual Term (in years)
Outstanding at January 1, 2014
 
23,237,717

 
$
11.5

 
 
Granted
 
—

 
—

 
 
Exercised
 
(3,400
)
 
11.5

 
 
Purchased
 
—

 
—

 
 
Forfeited
 
—

 
—

 
 
Outstanding and exercisable at March 31, 2014
 
23,234,317

 
$
11.5

 
3.83