Note 11. Equity

1. Share capital

The Company's issued share capital is composed of ordinary shares at NIS 0.01 par value. Ordinary shares confer upon their holders the right to receive notice to participate and vote in general meetings of the Company, and the right to receive dividends if declared.

At the Company's annual general meeting held in June 2013, the Company's shareholders approved an amendment to the Company's articles of association to increase the number of ordinary shares the Company is authorized to issue to 180 million and correspondingly to increase the Company's share capital to NIS1.8 million.

On September 18, 2013, the Company completed a follow-on public offering of 5.2 million of its ordinary shares and received net proceeds of $462.9 million.

For other significant share issuance in connection with business combinations during the years ended December 31, 2015, 2014 and 2013, refer to note 2.

As of December 31, 2015, and 2014, there were 52,082 thousands ordinary shares and 50,923 thousands ordinary shares issued and outstanding, respectively. The Company's ordinary shares are traded in the United States on the Nasdaq Global Select Market under the ticker symbol “SSYS”.

2. Stock-based compensation plans

The Stratasys Ltd. 2012 Omnibus Equity Incentive Plan (the “2012 Plan”), which became effective upon closing of the Stratasys-Objet merger, provides for the grant of options, restricted shares, restricted share units (“RSUs”) and other share-based awards to the Company's and its subsidiaries' respective directors, employees, officers, consultants, and advisors and to any other person whose services are considered valuable to the Company or any of its affiliates. Under the 2012 plan, options and RSUs generally have a contractual term of ten years from the grant date. Options granted become exercisable and RSUs are vested over the vesting period, which is normally a four-year period beginning on the grant date, subject to the employee's continuing service to the Company. As of December 31, 2015, 2.7 million shares were available for equity awards under the 2012 plan. On January 1, 2016, the reserve pool under the 2012 plan was automatically increased by 0.5 million shares.

Stock options

A summary of the stock option activity for the year ended December 31, 2015 is as follows:

The following table summarizes information about stock options outstanding at December 31, 2015:

The Company used the Black-Scholes option-pricing model to determine the fair value of options granted during 2015, 2014 and 2013. The following assumptions were applied in determining the options' fair value on their grant date:

As of December 31, 2015, there were 1,385,030 unvested options of the Company. As of December 31, 2015, the unrecognized compensation cost related to all unvested stock options of $26.6 million is expected to be recognized as an expense on a straight-line basis over a weighted-average period of 3.0 years.

Restricted Stock Units

A summary of the Company's RSUs activity for the year ended December 31, 2015 is as follows:

The value of equity classified RSUs vested during 2015 was $2.8 million. As of December 31, 2015, the unrecognized compensation cost related to all unvested equity classified RSUs of $29.0 million is expected to be recognized as an expense on a straight-line basis over a weighted-average period of 2.7 years.

Stock-based compensation expense for stock options and equity classified RSUs included in the Company's Statements of Operations were allocated as follows:

3. Accumulated other comprehensive income (loss)

The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes for the years ended December 31, 2015 and 2014:

Realized gains and losses on cash flow hedges were reclassified primarily to research and development, net and selling and general and administrative expenses. Other reclassifications from accumulated other comprehensive loss were reclassified to financial expense, net.