Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v2.4.1.9
Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Options
We apply the following assumptions in our Black-Scholes-Merton Model option-pricing formula:
 
Year Ended
December 31,
2014
 
Year Ended
December 31,
2013
 
Year Ended
December 31,
2012
Expected term (in years)
1.0 - 10.0
 
1.0 - 7.0
 
1.0 - 7.0
Risk-free interest rate
.10% - 2.65%
 
0.15% - 2.45%
 
0.09% - 2.61%
Expected volatility
31% - 72%
 
0.31% - 83%
 
69%
Expected dividend yield
0%
 
0%
 
0%
Summary of Option Activity Under Stock Plans
A summary of option activity under our stock option plans as of December 31, 2014, and the changes during the year is presented below: 
Options
Number of
options
 
Weighted
average
exercise
price
 
Weighted
average
remaining
contractual
term (years)
 
Aggregate
intrinsic value
(in thousands)
Outstanding at December 31, 2013
21,350,597

 
$
4.47

 
4.8
 
$
85,186

Granted
5,437,500

 
$
8.47

 
 
 
 
Exercised
(2,723,666
)
 
$
3.45

 
 
 
 
Forfeited
(727,126
)
 
$
5.65

 
 
 
 
Expired
(37,386
)
 
$
0.71

 
 
 
 
Outstanding at December 31, 2014
23,299,919

 
$
5.50

 
5.37
 
$
104,797

Vested and expected to vest at December 31, 2014
21,943,140

 
$
5.35

 
5.25
 
$
101,859

Exercisable at December 31, 2014
11,876,035

 
$
3.89

 
4.09
 
$
72,481