SeaChange International, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

12 Months Ended

Jan. 31, 2015

Effect of Recording Stock Based Compensation

The effect of recording stock-based compensation was as follows:


	For the Fiscal Years Ended January 31,
	2015		2014		2013
	(Amounts in thousands)
Stock-based compensation expense by type of award:
Stock options	$	1,036	$	453	$	3,586
Restricted stock units		1,607		1,907		2,218
Deferred stock units		500		—		—
Performance-based restricted stock units		77		599		125

Total stock-based compensation	$	3,220	$	2,959	$	5,929

Fair Value of Stock Options Granted

The fair value of stock options granted was estimated at the date of grant using the following assumptions:


	For the Fiscal Years Ended January 31,
	2015	2014	2013
Expected term (in years)	6.5	5-7	3-7
Expected volatility (range)	46%	44-46%	49-52%
Weighted average volatility	46%	45%	52%
Risk-free interest rate	1.7%	0.7-0.9%	0.7-1.2%
Weighted average interest rate	1.7%	0.8%	1.2%
Expected dividend yield	0%	0%	0%

Stock Option Activity

The following table summarizes the stock option activity (excluding RSUs and DSUs):


	For the Fiscal Years Ended January 31,
	2015					2014					2013
	Shares			Weighted average exercise price		Shares			Weighted average exercise price		Shares			Weighted average exercise price
Outstanding at beginning of period		1,502,176		$	9.77		1,917,448		$	10.35		2,125,371		$	11.83
Granted		500,000		$	7.23		12,500		$	10.10		892,500		$	8.21
Exercised		—		$	—		(118,528	)	$	9.10		(304,550	)	$	7.19
Forfeited/expired/cancelled		(375,755	)	$	15.06		(309,244	)	$	13.78		(795,873	)	$	13.11

Outstanding at end of period		1,626,421		$	7.77		1,502,176		$	9.77		1,917,448		$	10.35

Options exercisable at end of period		1,108,115		$	8.02		1,440,521		$	9.90		937,444		$	12.78

Weighted average remaining contractual term (in years)					4.72					3.93					1.86

Summary of Information about Employee and Director Stock Options Outstanding and Exercisable

The following table summarizes information about employee and director stock options outstanding and exercisable as of January 31, 2015:


	Options Outstanding						Options Exercisable
	Number outstanding		Weighted average remaining contractual terms (years)		Weighted average exercise price		Number exercisable		Weighted average exercise price
Range of exercise prices
$6.74 to $6.74		224,421		3.96	$	6.74		207,781	$	6.74
$7.00 to $7.48		501,000		6.10	$	7.23		1,000	$	7.00
$7.49 to $7.49		1,000		0.35	$	7.49		1,000	$	7.49
$7.72 to $7.72		4,500		0.44	$	7.72		4,500	$	7.72
$8.15 to $8.15		5,000		4.42	$	8.15		3,334	$	8.15
$8.22 to $8.22		875,000		4.24	$	8.22		875,000	$	8.22
$11.56 to $11.56		2,000		0.19	$	11.56		2,000	$	11.56
$12.95 to $12.95		2,000		0.17	$	12.95		2,000	$	12.95
$13.66 to $13.66		6,500		0.09	$	13.66		6,500	$	13.66
$16.56 to $16.56		5,000		0.01	$	16.56		5,000	$	16.56

		1,626,421		4.72	$	7.77		1,108,115	$	8.02

Summary of RSU and DSU Activity

The following table summarizes the RSU and DSU activity:


	For the Fiscal Years Ended January 31,
	2015					2014					2013
	Shares			Weighted average grant date fair value		Shares			Weighted average grant date fair value		Shares			Weighted average grant date fair value
Nonvested at beginning of period		446,468		$	9.81		552,980		$	10.51		721,365		$	10.46
Awarded		314,057		$	8.60		146,411		$	11.15		375,317		$	8.62
Vested		(287,485	)	$	9.83		(205,928	)	$	12.61		(348,346	)	$	8.73
Forfeited/expired/cancelled		(37,734	)	$	10.01		(46,995	)	$	9.93		(195,356	)	$	9.87

Nonvested at end of period		435,306		$	8.91		446,468		$	9.81		552,980		$	10.51

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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