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, 2013

Stockholders' Equity Note [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

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

	For the Fiscal Years Ended January 31,
	2013		2012		2011
	(Amounts in thousands)
Stock-based compensation expense by type of award:
Stock options	$	1,758	$	120	$	(60	)
Restricted stock units		2,218		1,265		742
Performance-based restricted stock units		125		1,603		1,763
Employee stock purchase plan		-		-		153
Total stock-based compensation	$	4,101	$	2,988	$	2,598

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

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,
	2013			2012			2011
Expected term (in years)		3-7			4-5			4-5
Expected volatility (range)		49-52%			52	%		51%-53%
Weighted average volatility		52	%		52	%		53	%
Risk-free interest rate		0.7-1.2%			0.8	%		1.5%-1.6%
Weighted average interest rate		1.2	%		0.8	%		1.6	%
Expected dividend yield		0	%		0	%		0	%

Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block]

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

	For the Fiscal Years Ended January 31,
	2013		2012		2011
Expected term (in years)		*		*		0.5
Weighted average volatility		*		*		48	%
Weighted average interest rate		*		*		0.1	%
Expected dividend yield		*		*		0	%

* The ESPP plan was cancelled in fiscal 2011.

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

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

	For the Fiscal Years Ended January 31,
	2013					2012					2011
	Shares			Weighted average exercise price		Shares			Weighted average exercise price		Shares			Weighted average exercise price
Outstanding at beginning of period		2,125,371		$	11.83		2,382,174		$	12.31		3,934,973		$	15.41
Granted		892,500		$	8.21		250,000		$	6.74		15,000		$	8.77
Exercised		(304,550	)	$	7.19		(253,668	)	$	7.04		(309,195	)	$	6.71
Forfeited/expired/cancelled		(795,873	)	$	13.11		(253,135	)	$	16.11		(1,258,604	)	$	23.30
Outstanding at end of period		1,917,448		$	10.35		2,125,371		$	11.83		2,382,174		$	12.31
Options exercisable at end of period		937,444		$	12.78		1,878,707		$	12.51		2,367,176		$	12.33
Weighted average remaining contractual term (in years)					1.86					2.10					1.95

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The following table summarizes information about employee and director stock options outstanding and exercisable as of January 31, 2013:

		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
$	6.55 to $6.55		500		0.51	$	6.55		500	$	6.55
$	6.74 to $6.74		250,000		5.96	$	6.74		149,995	$	6.74
$	6.78 to $10.33		992,405		1.30	$	8.32		112,405	$	9.09
$	10.45 to $10.56		61,086		0.41	$	10.76		61,086	$	10.76
$	12.21 to $12.21		117,813		1.25	$	12.21		117,813	$	12.21
$	12.95 to $14.47		113,563		1.49	$	14.36		113,563	$	14.36
$	14.56 to $15.52		23,000		0.91	$	14.64		23,000	$	14.64
$	15.59 to $15.59		118,707		0.73	$	15.59		118,707	$	15.59
$	15.62 to $16.56		106,088		1.07	$	15.69		106,088	$	15.69
$	17.26 to $19.98		134,287		1.64	$	17.62		134,287	$	17.62
			1,917,449		1.86	$	10.37		937,444	$	12.78

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

The following table summarizes the RSU activity:

	For the Fiscal Years Ended January 31,
	2013					2012					2011
				Weighted average					Weighted average					Weighted average
				grant date					grant date					grant date
	Shares			fair value		Shares			fair value		Shares			fair value
Nonvested at beginning of period		721,365		$	10.46		363,078		$	8.00		572,489		$	7.94
Awarded		375,317		$	8.62		855,143		$	10.10		223,020		$	8.12
Vested		(348,346	)	$	8.73		(381,955	)	$	7.53		(353,542	)	$	8.15
Forfeited/expired/cancelled		(195,356	)	$	9.87		(114,901	)	$	9.73		(78,889	)	$	7.20
Nonvested at end of period		552,980		$	10.51		721,365		$	10.46		363,078		$	8.00

- 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.

+ References + Details

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References + Details