Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.19.2
Stock-Based Compensation and Employee Benefit Plans (Tables)
 6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation
The Company recognizes stock-based compensation in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
(in thousands)
 
(in thousands)
Cost of net revenue
$
147

 
$
120

 
$
277

 
$
226

Research and development
4,222

 
4,454

 
8,435

 
8,828

Selling, general and administrative
3,838

 
2,735

 
7,242

 
6,728

 
$
8,207

 
$
7,309

 
$
15,954

 
$
15,782


Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
A summary of the Company’s restricted stock unit activity is as follows:
 
Number of Shares
(in thousands)
 
Weighted-Average Grant-Date Fair Value per Share
Outstanding at December 31, 2018
3,263

 
$
20.23

  Granted
1,335

 
23.69

  Vested
(963
)
 
19.92

  Canceled
(206
)
 
21.14

Outstanding at June 30, 2019
3,429

 
21.61


Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]
A summary of the Company’s performance-based restricted stock unit activity is as follows:
 
Number of Shares
(in thousands)
 
Weighted-Average Grant-Date Fair Value per Share
Outstanding at December 31, 2018
—

 
$
—

  Granted(1)
445

 
22.21

Outstanding at June 30, 2019
445

 
22.21

________________
(1) Number of shares granted is based on the maximum percentage achievable in the performance-based restricted stock unit award.
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair values of employee stock purchase rights were estimated using the Black-Scholes option pricing model at their respective grant date using the following assumptions:
 
Six Months Ended June 30,
 
2019
 
2018
Weighted-average grant date fair value per share
$
6.61

 
$
5.37

Risk-free interest rate
2.43
%
 
2.09
%
Dividend yield
—
%
 
—
%
Expected life (in years)
0.50

 
0.50

Volatility
40.47
%
 
46.00
%

Share-based Compensation, Stock Options, Activity
 
Number of Options
(in thousands)
 
Weighted-Average Exercise Price
 
Weighted-Average Contractual Term (in years)
 
Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018
2,659

 
$
10.27

 
 
 
 
Exercised
(1,148
)
 
7.18

 
 
 
 
Canceled
(15
)
 
19.55

 
 
 
 
Outstanding at June 30, 2019
1,496

 
$
12.56

 
2.85
 
$
16,445

Vested and expected to vest at June 30, 2019
1,481

 
$
12.49

 
2.82
 
$
16,370

Exercisable at June 30, 2019
1,087

 
$
10.53

 
1.77
 
$
14,182