Qumu Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation, Common Stock Repurchases and Dividends (Tables)

Stock-Based Compensation, Common Stock Repurchases and Dividends (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based payment arrangements

The Company recognized the following amounts related to the Company’s share-based payment arrangements (in thousands):



	Years Ended December 31,
	2014		2013		2012
Stock-based compensation cost charged against loss, before income tax benefit
Stock options	$	812	$	928	$	1,079
Restricted stock and restricted stock units	1,029		507		625
Total expense included in continuing operations	$	1,841	$	1,435	$	1,704
Stock-based compensation cost included in:
Cost of revenues	$	55	$	25	$	10
Operating expenses	1,786		1,410		1,694
Total expense included in continuing operations	$	1,841	$	1,435	$	1,704

Schedule of assumptions used to determine the fair value of stock options awards granted

The fair value of each option award is estimated at the date of grant using the Black-Scholes option pricing model. The assumptions used to determine the fair value of stock option awards granted were as follows:



	Years Ended December 31,
	2014	2013	2012
Expected life of options in years	4.75	2.0 - 4.75	4.75
Risk-free interest rate	1.36% - 1.61%	0.34% - 1.34%	0.59% - 0.94%
Expected volatility	33.1% - 34.5%	31.5% - 43.7%	43.8% - 46.9%
Expected dividend yield	0.0%	0.0%	0.0% - 9.9%

Schedule of share-based compensation pertaining to stock options

A summary of share option activity for the year ended December 31, 2014 is presented in the table below (in thousands, except per share data):



	Shares		WAEP*		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value**
Options outstanding at December 31, 2013	1,748		$	12.95
Granted	133		14.58
Exercised	(86	)	12.28
Canceled	(160	)	15.75
Options outstanding at December 31, 2014	1,635		$	12.84	4.06	$	3,851
Options subject to exercise at December 31, 2014	1,003		$	14.15	2.93	$	1,807

*Weighted Average Exercise Price

**Aggregate intrinsic value includes only those options with intrinsic value (options where the exercise price is below the market value).

Other information pertaining to options is as follows (in thousands, except per share data):



	Years Ended December 31,
	2014		2013		2012
Fair value of options granted	$	612	$	1,382	$	1,288
Per share weighted average fair value of options granted	$	4.60	$	3.55	$	2.44
Total intrinsic value of stock options exercised	$	242	$	2	$	—

Nonvested restricted stock shares activity

A summary of the status of the Company’s nonvested shares and share units as of December 31, 2014 and changes during the year ended December 31, 2014 is presented in the table below (in thousands, except per share data):



	Number of Shares		Weighted Average Grant-Date Fair Value
Nonvested at December 31, 2013	118		$	10.94
Granted	184		14.92
Vested	(76	)	10.35
Canceled	(12	)	10.63
Nonvested at December 31, 2014	214		$	14.59

Schedule of share-based compensation pertaining to restricted stock and restricted stock units

Other information pertaining to restricted stock and restricted stock units is as follows (in thousands, except per share data):



	Years Ended December 31,
	2014		2013		2012
Per share weighted average grant-date fair value of restricted stock and restricted stock units granted	$	14.92	$	10.14	$	8.63
Total fair value of restricted stock and restricted stock units vested	$	1,076	$	593	$	394

Schedule of repurchase activity

A summary of the Company's repurchase activity is presented in the table below (in thousands, except per share data):



	Years Ended December 31,
	2014		2013		2012
Common stock shares repurchased under Board authorized plan	—		—		1,569
Average purchase price per share	$	—	$	—	$	6.22
Shares available under Board authorizations at December 31, 2014	778

- 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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