Zynga 2015 Annual Report Download - page 105

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Table of Contents
In connection with the 2015 employee bonus program, the company recognized $4.4 million of stock-based expense for the twelve months ended
December 31, 2015. This amount was accrued based on certain performance criteria and the passage of time and recognized as a liability based on the estimated
fair value as of the reporting date. Upon settlement, according to the conditions specified in the agreement, approximately 4.2 million shares would be issued for an
estimated total liability of $11.2 million based upon Company’s closing stock price as of December 31, 2015 of $2.68.
As of December 31, 2015, total unrecognized stock-based expense of $7.6 million and $20.6 million related to unvested stock options and restricted shares of
common stock, respectively, is expected to be recognized over a weighted-average recognition period of approximately 1.25 and 1.13 years, respectively.
The following table shows stock option activity for the year ended December 31, 2015 (in thousands, except weighted-average exercise price and remaining
contractual term):
Outstanding Options
Stock Options
Weighted-
Average
Exercise
Price
Aggregate
Intrinsic Value of
Stock Options
Outstanding
Weighted-
Average
Contractual Term
(in years)
Balance as of December 31, 2014 39,460 $ 2.22 $ 47,347 6.74
Granted 305 2.99
Forfeited and cancelled (12,510) 3.37
Exercised (4,040) 0.42
Balance as of December 31, 2015 23,215 $ 1.93 $ 35,949 5.36
As of December 31, 2015
Exercisable options 20,076 $ 1.30 $ 33,252 5.01
Vested and expected to vest 22,825 $ 1.40 $ 35,834 5.31
The aggregate intrinsic value of options exercised during the years ended December 31, 2015, 2014, and 2013 was $9.1 million, $25.1 million, and $85.9
million, respectively. The total grant date fair value of options that vested during the years ended December 31, 2015, 2014, and 2013 was $10.2 million, $6.6
million, and $12.8 million, respectively.
The following table shows a summary of ZSU activity for the year ended December 31, 2015 (in thousands, except weighted-average fair value and
remaining term):
Outstanding ZSUs
Shares
Weighted-
Average
Grant Date
Fair Value
Aggregate
Intrinsic Value of
Unvested ZSUs
Unvested as of December 31, 2014 69,883 $ 3.64 $ 185,889
Granted 51,962 2.70
Vested (29,106) 3.71
Forfeited and cancelled (30,303) 3.14
Unvested as of December 31, 2015 62,436 $ 3.06 $ 167,328
2011EmployeeStockPurchasePlan
Our 2011 Employee Stock Purchase Plan (“2011 ESPP”), was approved by our Board in September 2011 and by our stockholders in November 2011 and
amended in August 2012. On December 31, 2015, the maximum
102