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TABLE OF CONTENTS
STAMPS.COM INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
asoneshare.OnSeptember9,2014,ourBoardofDirectorsapprovedanamendment(the“Amendment”)toour2010Plan,whichwas
approvedbyourshareholdersonJune17,2015.PursuanttotheAmendment,themaximumaggregatenumberofsharesofcommon
stockandstockequivalentsavailableforthegrantofawardsunderthe2010Planwasincreasedbyanadditional2,100,000shares.
ExceptfortheAmendmenttothePlantoincreasethenumberofawards,thePlanotherwiseremainsunchanged.
OnApril9,2015,pursuanttotheAmendment,ourcompensationcommitteeapprovedadditionalperformance-basedstockoption
grantsforcertainofouremployees.TheseadditionaloptionawardsgrantedundertheAmendmentvestmonthlyinequalpartsovera
36-monthperiodcommencingupontheclosingofouracquisitionofEndicia.Thenumberofoptionsissuedwasapproximately
175,000.Fortheseawardssubjecttoperformanceconditions,thefairvalueperawardisfixedatthegrantdateonJune17,2015,the
datetheAmendmentwasapprovedbytheshareholders.Thetotalstock-basedcompensationexpensefortheseperformance-based
awardswasapproximately$646,000fortheyearendedDecember31,2015.
Asummaryofstockoptionactivityisasfollows(inthousands,exceptpershareamounts):
Options
Outstanding Weighted
Average
Exercise
Price
Number of
Options
BalanceatDecember31,2012 1,861 $ 14.33
Granted 164  34.29
Forfeited (38)  21.57
Exercised (991)  13.55
BalanceatDecember31,2013 996 $ 18.12
Granted 2,251  32.55
Forfeited (75)  35.96
Exercised (203)  16.34
BalanceatDecember31,2014 2,969 $ 28.91
Granted 694  65.96
Forfeited (98)  37.43
Exercised (459)  23.73
BalanceatDecember31,2015 3,106$ 37.75
Theweighted-averagefairvalueofstockoptionsgrantedfor2015,2014and2013usingtheBlack-Scholesvaluationmethodare
asfollows:
2015 2014 2013
Weighted-averagefairvalueofstockoptionswithanexercisepriceequaltothemarketpriceon
thegrantdate $ 23.19 $ 11.87 $ 13.48
Weighted-averagefairvalueofstockoptionswithanexercisepricegreaterthanthemarketprice
onthegrantdate —  —  —
Total $ 23.19 $ 11.87 $ 13.48
Weightedaverageexercisepricesforstockoptionsexercisedin2015areasfollows:
2015
Weighted-averageexercisepriceofstockoptionswithanexercisepriceequaltothemarketpriceonthegrantdate $ 23.73
Weighted-averageexercisepriceofstockoptionswithanexercisepricegreaterthanthemarketpriceonthegrantdate  —
Totalweighted-averageexerciseprice $ 23.73
F-29