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It is not presently possible to determine the dollar value of award payments that may be made or the number of options, shares of
restricted stock, restricted stock units, or other awards that may be granted under the 2014 Equity Incentive Plan in the future, or the individuals who may be selected for such awards because awards
under the 2014 Equity Incentive Plan are granted at the discretion of the compensation committee.
The following is a summary of the material terms of the 2014 employee stock purchase plan, the ESPP, which will be in effect upon
completion of this offering. It does not purport to be complete and is qualified by reference to the full text of the ESPP, which we will file as an exhibit to our registration statement of which this
prospectus is a part. The ESPP provides an
incentive to, and encourages stock ownership by, all of our eligible employees and those of our participating subsidiaries so that they may share in our growth by acquiring or increasing their share
ownership in the Company. It is intended that the ESPP constitute an "employee stock purchase plan" within the meaning of Section 423 of the Code. Under the ESPP, eligible employees may
purchase shares of our common stock through payroll deductions.
The ESPP is administered by the compensation committee of our board of directors. The board of directors itself may exercise any of the
powers and responsibilities under the ESPP. The compensation committee may delegate its duties in order to facilitate the purchase and transfer of shares of our common stock and for the day-to-day
administration of the ESPP. The compensation committee, has the discretion, subject to the provisions of the ESPP, to make or to select the manner of making all determinations with respect to options
granted under the ESPP. Further, the compensation committee has complete authority to interpret the ESPP, to prescribe, amend and rescind rules and regulations relating to it, and to make all other
determinations necessary or advisable for the administration of the ESPP. All decisions, determinations and interpretations made in good faith by the compensation committee with respect to the ESPP
are final an binding on all persons having or claiming any interest in the ESPP or any option granted under the ESPP.
The shares issued or to be issued under the ESPP are authorized but unissued shares of our common stock. The ESPP authorizes the
issuance of up to 140,500 shares of common stock. The number of shares authorized under the ESPP will be increased each January 1, commencing on January 1, 2015 and ending on (and
including) January 1, 2024, by an amount equal to the lesser of (i) one percent (1%) of outstanding shares as of the end of the immediately preceding fiscal year and (ii) 281,000.
Notwithstanding the foregoing, our board of directors may act prior to January 1 of a given year to provide that there will be no such January 1 increase in the number of shares
authorized under the ESPP for such year, or that the increase in the number of shares authorized under the ESPP for such year will be a lesser number than would otherwise occur pursuant to the
The ESPP will be implemented through a series of purchase periods called "plan periods." The initial plan period shall commence on such
date following the closing of our initial public offering as the compensation committee may determine in its sole discretion and continue until December 31, 2014. After the initial plan period,
each calendar year shall be divided into two plan periods, the first beginning on January 1 and ending on the immediately following June 30, and the second beginning on July 1 and
ending on the immediately following December 31. An eligible employee will be granted an option at the beginning of the plan period, and can accumulate money to pay the exercise price for the
option by electing to have payroll deductions taken from each payroll during a plan period of an amount, in whole