Etsy 2015 Annual Report Download - page 99
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Etsy, Inc.
Notes to Consolidated Financial Statements
The following table summarizes the activity for the Company’s unvested RSUs:
Unvested at December 31, 2014 —
$ —
Granted 407,368
13.78
Vested —
—
Forfeited/Cancelled (11,522)
16.76
Unvested at December 31, 2015 395,846
13.70
Total expected to vest at December 31, 2015 343,291
13.68
The total unrecognized compensation at December 31, 2015 was $4.2 million, which will be recognized over a weighted-average period of 3.11 years. Total
stock-based compensation expense included in the consolidated statements of operations is as follows (in thousands):
Cost of revenue $ 200
$ 1,113
$ 871
Marketing 79
216
560
Product development 785
1,461
2,860
General and administrative 2,770
7,260
6,550
$ 3,834
$ 10,050
$ 10,841
The total stock-based compensation expense in the years ended December 31, 2014 and 2015 includes $4.1 million and $1.9 million in acquisition-related
stock-based compensation expense, respectively.
The following are the domestic and foreign components of the Company’s income (loss) before income taxes (in thousands):
Domestic $ (544)
$ 6,084
$ 25,627
International 602
(16,344)
(53,621)
Income (loss) before income taxes $ 58
$ (10,260)
$ (27,994)
94