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2327301 - Disclosure - Equity-Based Compensation (Tables)
(http://www.actua.com/role/EquityBasedCompensationTables)
Table(Implied)
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
 
Summary of Equity-Based Compensation
The following table summarizes the equity-based compensation recognized by expense line item on Actua’s Consolidated Statements of Operations and Comprehensive Income (Loss):
(in thousands)
 
Year ended December 31,
 
 
2016
 
2015
 
2014
Cost of revenue
 
$
107

 
$
140

 
$
69

Sales and marketing
 
315

 
330

 
145

General and administrative
 
13,174

 
25,009

 
23,395

Research and development
 
462

 
465

 
138

Total equity-based compensation
 
$
14,058

 
$
25,944

 
$
23,747


Equity-based compensation by equity award type:
(in thousands, except weighted average years)
 
Year ended December 31,
 
 
2016
 
2015
 
2014
Restricted stock
 
$
11,390

 
$
22,811

 
$
21,818

SARs
 
128

 
398

 
792

DSUs
 
341

 
234

 
444

 
 
11,859

 
23,443

 
23,054

Equity-based compensation for consolidated businesses
 
2,199

 
2,501

 
693

Total equity-based compensation
 
$
14,058

 
$
25,944

 
$
23,747


Unrecognized equity-based compensation by equity award type:
(in thousands)
 
Year ended December 31,
 
Weighted average years remaining of equity-based compensation as of December 31, 2016
 
 
2016
 
2015
 
2014
 
Restricted stock
 
$
9,960

 
$
18,946

 
$
37,780

 
1.25
SARs
 
117

 
125

 
519

 
3.25
DSUs
 
430

 
968

 
17

 
1.45
 
 
10,507

 
20,039

 
38,316

 
 
Equity-based compensation for consolidated businesses
 
6,226

 
4,888

 
1,799

 
2.84
Total equity-based compensation
 
$
16,733

 
$
24,927

 
$
40,115

 
 
 
 
Changes in Restricted Stock
Share activity with respect to restricted stock awards for the years ended December 31, 2016, 2015 and 2014 was as follows:
 
 
Number of shares
 
Weighted average grant date fair value
Issued and unvested as of December 31, 2013
 
1,185,071

 
$
9.52

Granted
 
3,239,948

 
$
17.22

Vested
 
(299,703
)
 
$
11.76

Forfeited
 
(370,041
)
 
$
9.96

Issued and unvested as of December 31, 2014
 
3,755,275

 
$
15.94

Granted
 
581,672

 
$
15.48

Vested
 
(785,820
)
 
$
18.20

Forfeited
 
(70,299
)
 
$
17.35

Issued and unvested as of December 31, 2015
 
3,480,828

 
$
15.82

Granted
 
555,680

 
$
8.37

Vested
 
(766,159
)
 
$
17.96

Forfeited
 
(626,319
)
 
$
10.90

Issued and unvested as of December 31, 2016
 
2,644,030

 
$
14.15


The table below summarizes the grant and vesting of performance plan-related restricted stock grants for each of 2014, 2015 and 2016. On March 10, 2017, the Board approved and granted Actua's senior employees, including Actua's executive officers, 263,756 shares of restricted stock in relation to the Actua 2017 Performance Plan.
 
Percentage of Target Bonus Potentially Payable in Restricted Stock
 
ACTA Stock Price at Issuance
 
Restricted Shares Granted
 
Performance Plan Achievement Percentage
 
Restricted Shares Vested
 
Restricted Shares Forfeited
Actua 2014 Performance Plan
100
%
 
$
20.33

 
158,942

 
100
%
 
158,942

 

Actua 2015 Performance Plan
150
%
 
$
16.76

 
316,715

 
83
%
 
175,249

 
141,466

Actua 2016 Performance Plan
100
%
 
$
8.44

 
419,283

 
60
%
 
251,570

 
167,713

 
 
Schedule of Shares Withheld for Income Taxes
The following shares were surrendered by Actua's employees for satisfying withholding taxes:

 
Restricted stock surrendered
Year ended December 31, 2016
 
196,566

Year ended December 31, 2015
 
258,947

Year ended December 31, 2014
 
93,115

 
 
Issued And Unvested Shares Of Restricted Stock Granted
As of December 31, 2016, issued and unvested shares of restricted stock granted to Actua’s employees and directors vest as follows:
Number of shares unvested
 
Vesting conditions
1,335,700

 
Subject to certain market conditions, as discussed below
419,283

 
Subject to certain performance conditions, as discussed below
889,047

 
Subject to certain service conditions, as discussed below
2,644,030

 
 
 
 
Changes in Stock Appreciation Rights
Activity with respect to SARs during the years ended December 31, 2016, 2015 and 2014 was as follows:
 
 
Number of SARs
 
Weighted average base price
 
Weighted average
fair value
Outstanding as of December 31, 2013
 
1,232,808

 
$
8.86

 
$
4.99

Granted
 
500

 
$
17.31

 
$
9.48

Exercised (1)
 
(679,606
)
 
$
7.35

 
$
3.60

Forfeited
 
(5,220
)
 
$
10.14

 
$
5.43

Outstanding as of December 31, 2014
 
548,482

 
$
10.62

 
$
5.79

Granted
 
1,500

 
$
16.69

 
$
8.99

Exercised (1)
 
(68,638
)
 
$
10.67

 
$
5.79

Forfeited
 
(1,688
)
 
$
9.35

 
$
4.95

Outstanding as of December 31, 2015
 
479,656

 
$
10.64

 
$
5.80

Granted
 
25,000

 
$
9.02

 
$
4.79

Exercised (1)
 
(191,205
)
 
$
9.35

 
$
5.07

Forfeited
 
(5,937
)
 
$
12.15

 
$
6.63

Outstanding as of December 31, 2016
 
307,514

 
$
11.28

 
$
6.21

______________________________
(1) 
The exercise of SARs listed above resulted in the issuance of the following shares of Actua’s Common Stock in those respective years:
 
 
Number of Shares
Year ended December 31, 2014
 
253,853

Year ended December 31, 2015
 
11,261

Year ended December 31, 2016
 
60,219


The following table summarizes information about SARs outstanding as of December 31, 2016:
Grant price
 
Number of SARs outstanding
 
Number of SARs exercisable
 
Weighted average remaining contractual life of SARs outstanding
(in years)
 
Aggregate intrinsic value of SARs outstanding as of December 31, 2016
(in thousands)
$6.70 - $8.76
 
29,950

 
29,950

 
1.72
 
$
167

$9.02 - $9.25
 
44,329

 
19,329

 
7.71
 
216

$11.69 - $17.31
 
233,235

 
231,942

 
4.27
 
464

 
 
307,514

 
281,221

 
 
 
$
847

 
 
Assumptions Used to Determine Fair Value of Stock Appreciation Rights Granted to Employees
The following assumptions were used to determine the fair value of SARs granted to employees by Actua during the years ended December 31, 2016, 2015, and 2014:
 
 
Year ended December 31,
 
 
2016
 
2015
 
2014
Expected volatility
 
56
%
 
56
%
 
56
%
Average expected life of SAR (in years)
 
6.18

 
6.13

 
6.25

Risk-free interest rate
 
1.28
%
 
1.51
%
 
2.12
%
Dividend yield
 

 

 

 
 
Schedule of Share-based Compensation, Nonemployee Director Stock Award Plan, Activity
The following table summarizes the activity related to DSUs (excluding activity related to the Director Plan, which ended December 31, 2014) for the years ended December 31, 2016, 2015 and 2014 are as follows:
 
 
Number of shares
 
Weighted
average grant
date fair value
Issued and unvested as of December 31, 2013
 
29,250

 
$
13.09

Granted
 
22,500

 
$
17.63

Vested
 
(29,250
)
 
$
13.09

Issued and unvested as of December 31, 2014
 
22,500

 
$
17.63

Granted
 
90,000

 
$
13.17

Vested
 
(22,500
)
 
$
17.63

Issued and unvested as of December 31, 2015
 
90,000

 
$
13.17

Granted
 

 
$

Vested
 
(41,250
)
 
$
13.17

Forfeited
 
(15,000
)
 
$
13.17

Issued and unvested as of December 31, 2016
 
33,750

 
$
13.17

 
 
Assumptions Used to Determine Fair Value of Stock Options
The following assumptions were used to determine the fair value of stock options granted by Actua's consolidated businesses to their employees during the year ended December 31, 2016. Due to insufficient historical data, Actua's consolidated businesses used the simplified method to determine the expected life of all stock options granted under the respective equity incentive plans.
 
Year ended December 31, 2016
Expected volatility
45% - 50%
Average expected life of stock options (in years)
5.93 - 6.25
Risk-free interest rate
1.42% - 1.49%
Dividend yield