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

Stockholders' Equity (Tables)

12 Months Ended

Jan. 31, 2017

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


	For the Fiscal Years Ended January 31,
	2017		2016		2015
	(Amounts in thousands)
Stock-based compensation expense by type of award:
Stock options	$	873	$	1,257	$	1,036
Restricted stock units		624		1,203		1,607
Deferred stock units		709		607		500
Performance-based restricted stock units		398		475		77
Employee stock purchase plan		17		10		—

Total stock-based compensation	$	2,621	$	3,552	$	3,220

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,
	2017	2016	2015
Expected term (in years)	6-7	6-7	6.5
Expected volatility (range)	40-45%	40-45%	46%
Weighted average volatility	42%	42%	46%
Risk-free interest rate	1.0-2.0%	1.5-2.0%	1.7%
Weighted average interest rate	1.1%	1.6%	1.7%
Expected dividend yield	0%	0%	0%

The following table summarizes the Company’s stock option activity:


	For the Fiscal Years Ended January 31,
	2017					2016					2015
	Shares			Weighted average exercise price		Shares			Weighted average exercise price		Shares			Weighted average exercise price
Outstanding at beginning of period		1,192,677		$	6.80		1,626,421		$	7.77		1,502,176		$	9.77
Granted		1,581,614		$	4.02		612,678		$	6.44		500,000		$	7.23
Exercised		—		$	—		(28,740	)	$	6.74		—		$	—
Forfeited/expired/cancelled		(632,724	)	$	6.98		(1,017,682	)	$	8.13		(375,755	)	$	15.06

Outstanding at end of period		2,141,567		$	4.70		1,192,677		$	6.80		1,626,421		$	7.77

Options exercisable at end of period		203,982		$	6.28		80,000		$	6.83		1,108,115		$	8.02

Weighted average remaining contractual term (in years)					8.01					8.10					4.72

The following table summarizes information about stock options outstanding and exercisable as of January 31, 2017:


	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
$2.42 to $2.42		425,546		9.50	$	2.42		—	$	—
$2.64 to $2.89		135,000		9.68	$	2.73		—	$	—
$3.30 to $3.41		150,000		9.38	$	3.34		—	$	—
$3.50 to $3.50		100,000		9.26	$	3.50		—	$	—
$3.77 to $3.77		21,068		2.25	$	3.77		7,023	$	3.77
$3.83 to $3.83		75,000		9.21	$	3.83		—	$	—
$5.50 to $5.50		75,000		0.31	$	5.50		—	$	—
$5.56 to $7.25		800,000		8.97	$	5.98		—	$	—
$6.05 to $6.05		279,953		4.94	$	6.05		116,959	$	6.05
$6.74 to $6.74		75,000		1.96	$	6.74		75,000	$	6.74
$8.15 to $8.15		5,000		2.42	$	8.15		5,000	$	8.15

		2,141,567		8.01	$	4.70		203,982	$	6.28

The following table summarizes the stock unit activity:


	For the Fiscal Years Ended January 31,
	2017					2016					2015
	Shares			Weighted average grant date fair value		Shares			Weighted average grant date fair value		Shares			Weighted average grant date fair value
Unvested at beginning of period		1,053,045		$	7.34		435,306		$	8.91		446,468		$	9.81
Awarded		837,927		$	3.07		904,344		$	6.46		314,057		$	8.60
Vested		(208,474	)	$	3.46		(277,373	)	$	6.89		(287,485	)	$	9.83
Forfeited/expired/cancelled		(229,440	)	$	6.68		(9,232	)	$	8.42		(37,734	)	$	10.01

Unvested at end of period		1,453,058		$	5.54		1,053,045		$	7.34		435,306		$	8.91