Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity

The Company grants options and awards to employees and non-employee directors pursuant to a stockholder approved stock incentive plan, which is described in further detail in Note 8, Stockholders' Equity, of Notes to Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016.

The following is a summary of the Company’s stock option and restricted stock activity and related information:
 
Stock Options
 
Restricted Stock Awards
 
Shares
 
Weighted-
Average
Exercise
Price
 
Shares
 
Weighted-
Average Grant
Date Fair Value
Balance as of December 31, 2016
1,754,275

 
$
42.12

 
308,700

 
$
86.61

Granted
180,765

 
100.81

 
64,155

 
100.91

Exercised
(29,412
)
 
17.42

 
(96,744
)
 
79.68

Forfeited

 

 
(300
)
 
97.92

Balance as of March 31, 2017
1,905,628

 
$
48.07

 
275,811

 
$
92.36



As of March 31, 2017, outstanding options to purchase 1.3 million shares were exercisable with a weighted average exercise price per share of $33.06.

Employee Stock Purchase Plan

The price at which common stock is purchased under the Amended ESPP is equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. During the three months ended March 31, 2017, approximately 829 shares were issued under the Amended ESPP. As of March 31, 2017, 70,297 shares were available for future purchases under the Amended ESPP.