Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v3.3.1.900
Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
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,
2015
 
Year Ended
December 31,
2014
 
Year Ended
December 31,
2013
Expected term (in years)
1.0 - 10.0
 
1.0 - 10.0
 
1.0 - 7.0
Risk-free interest rate
0.26% - 2.42%
 
0.10% - 2.65%
 
0.15% - 2.45%
Expected volatility
'32% - 64%
 
'31% - 72%
 
'31% - 83%
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, 2015, 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, 2014
23,299,919

 
$
5.50

 
5.4
 
$
104,797

Granted
15,579,500

 
$
13.09

 
 
 
 
Exercised
(6,643,991
)
 
$
3.93

 
 
 
 
Forfeited
(710,250
)
 
$
9.64

 
 
 
 
Expired
(238,391
)
 
$
1.58

 
 
 
 
Outstanding at December 31, 2015
31,286,787

 
$
9.55

 
6.97
 
$
63,902

Vested and expected to vest at December 31, 2015
28,066,315

 
$
9.35

 
6.82
 
$
60,780

Exercisable at December 31, 2015
8,779,201

 
$
3.76

 
3.76
 
$
41,891