Annual future rent payments as of December 31, 2014 for our primary research and development facility are
as follows (in thousands):
Future Rent
Payments
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,179
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,550
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,550
2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,943
2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,943
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
98,565
Total minimum payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $131,730
5. Stockholders’ Equity
Preferred Stock
We are authorized to issue up to 15,000,000 shares of ‘‘blank check’’ Preferred Stock. As of
December 31, 2014, there were no shares of Preferred Stock outstanding. We have designated Series C Junior
Participating Preferred Stock but have no issued or outstanding shares as of December 31, 2014.
Common Stock
At December 31, 2014 and 2013, we had 300,000,000 and 200,000,000 shares of common stock authorized,
respectively, of which 118,442,726 and 116,471,371 were issued and outstanding, respectively. As of
December 31, 2014, total common shares reserved for future issuance were 19,183,780.
In June 2013, we completed the sale of 9,617,869 shares of our common stock through a public offering at
a price of $19.00 per share, which included 617,869 additional shares sold pursuant to an option we granted to
the underwriters. We received net proceeds of approximately $173.3 million from the sale of these shares net of
underwriting discounts and commissions and other estimated offering expenses of $9.5 million.
During the years ending December 31, 2014, 2013 and 2012, we issued 1,972,000, 5,372,000 and
1,438,000 shares of common stock, respectively, for stock option exercises, vesting of restricted stock units, and
ESPP purchases. We received net proceeds from these transactions of $23.1 million, $63.0 million and
$9.5 million in 2014, 2013 and 2012, respectively.
Stock Plans
1989 Stock Option Plan
In June 1989, our Board of Directors adopted, and the stockholders subsequently approved, a stock option
plan that, as amended, provides for the issuance of non-qualified and incentive stock options for the purchase of
up to 20,000,000 shares of common stock to our employees, directors, and consultants. The plan expires in
January 2024. The 1989 Plan does not allow us to grant stock bonuses or restricted stock awards and prohibits us
from repricing any options outstanding under the plan unless our stockholders approve the repricing. Options vest
over a four-year period, with 25 percent exercisable at the end of one year from the date of the grant and the
balance vesting ratably, on a monthly basis, thereafter. Options we granted after May 26, 2004 have a term of
seven years while options we granted beforeMay 26, 2004 have a term of ten years. At December 31, 2014, a
total of 4,895,598 options were outstanding, of which options to purchase 3,291,939 shares were exercisable, and
7,269 shares were available for future grant under the 1989 Plan.
2000 Broad Based Equity Incentive Plan
In January 2000, we adopted the 2000 Broad-Based Equity Incentive Plan (the 2000 Plan), which, as
amended, provided for the issuance of non-qualified stock options for the purchase of up to 5,990,000 shares of
common stock to our employees, directors, and consultants. Typically options expire seven or ten years from the
date of grant. Options granted under this plan generally vest over a four-year period, with 25 percent exercisable
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