Stock Options and Warrants (Tables)
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6 Months Ended |
Jun. 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 June 30, 2015 and 2014 were determined using the Black-Scholes model and the following weighted average assumptions:
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Six Months Ended June 30, |
|
2015 |
|
2014 |
Common stock price on grant date |
$13.19 |
|
$10.71 |
Expected life (in years) |
3.5 |
|
|
4.0 |
|
Risk-free interest rate |
1.3 |
% |
|
1.57 |
% |
Expected stock volatility |
44 |
% |
|
64 |
% |
Expected dividend yield |
— |
% |
|
— |
% |
Fair value of stock options granted |
$4.46 |
|
$5.24 |
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| Schedule of Share-based Compensation, Stock Options, Activity |
Stock option activity for the six months ended June 30, 2015 is as follows:
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Shares (in thousands) |
|
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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Granted |
903 |
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|
$ |
13.19 |
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|
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Exercised |
(537 |
) |
|
$ |
9.84 |
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|
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Forfeited |
(845 |
) |
|
$ |
11.15 |
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|
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|
Outstanding at June 30, 2015 |
5,292 |
|
|
$ |
11.08 |
|
|
3.63 |
|
$ |
10,844 |
|
Vested and expected to vest at June 30, 2015 |
4,660 |
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|
$ |
10.99 |
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|
3.59 |
|
$ |
9,953 |
|
Exercisable at June 30, 2015 |
1,871 |
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$ |
10.44 |
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|
3.19 |
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$ |
5,010 |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following summarizes select information regarding our RSUs during the six months ended June 30, 2015:
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Units (in thousands) |
|
Weighted Average Grant Date Fair Value |
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Aggregate Intrinsic Value (in thousands) |
Outstanding at January 1, 2015 |
59 |
|
|
$ |
12.90 |
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|
|
Granted |
207 |
|
|
$ |
13.23 |
|
|
|
Vested |
(5 |
) |
|
$ |
12.90 |
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Forfeited |
(13 |
) |
|
$ |
12.98 |
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|
Balance nonvested at June 30, 2015 |
248 |
|
|
$ |
10.08 |
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$ |
3,235 |
|
Vested and expected to vest at June 30, 2015 |
192 |
|
|
$ |
10.08 |
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|
$ |
2,494 |
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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 six months ended June 30, 2015 and 2014 was as follow, (in thousands):
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2015 |
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2014 |
|
2015 |
|
2014 |
Cost of services |
$ |
124 |
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$ |
— |
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$ |
165 |
|
|
$ |
— |
|
Sales and marketing expenses |
338 |
|
|
— |
|
|
364 |
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|
— |
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Product development |
196 |
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|
— |
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|
509 |
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|
— |
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General and administrative |
894 |
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|
1,973 |
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|
3,064 |
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|
4,589 |
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Total stock-based compensation expense |
$ |
1,552 |
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$ |
1,973 |
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$ |
4,102 |
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|
$ |
4,589 |
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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 June 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 |
|
|
1.72 |
Series C Preferred stock warrants |
$ |
8.74 |
|
|
734 |
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|
1.94 |
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| Schedule of Share-based Compensation, Warrants, Activity |
Public warrants activity for the six months ended June 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 |
|
|
$ |
11.5 |
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|
Exercised |
|
(19 |
) |
|
11.5 |
|
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|
Outstanding and exercisable at June 30, 2015 |
|
10,130 |
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|
$ |
11.5 |
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|
2.59 |
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