Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.20.2
Stock-Based Compensation and Employee Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 2020
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 September 30, Nine Months Ended September 30,
2020 2019 2020 2019
(in thousands) (in thousands)
Cost of net revenue $ 143  $ 151  $ 417  $ 428 
Research and development 6,056  4,155  14,842  12,690 
Selling, general and administrative 7,350  4,053  17,202  11,295 
Restructuring 596  —  596  — 
$ 14,145  $ 8,359  $ 33,057  $ 24,413 
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, 2019 2,924  $ 21.72 
  Granted 4,350  18.50 
  Vested (1,005) 20.09 
  Canceled (373) 18.10 
Outstanding at September 30, 2020 5,896  $ 19.85 
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, 2019 445  $ 22.21 
  Granted(1)
1,416  11.67 
  Vested (21) 22.21 
  Canceled (118) 15.98 
Outstanding at September 30, 2020 1,722  $ 13.97 
________________
(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:
Nine Months Ended September 30,
2020 2019
Weighted-average grant date fair value per share $ 6.41  $ 6.61 
Risk-free interest rate 0.15  % 2.43  %
Dividend yield —  % —  %
Expected life (in years) 0.51 0.50
Volatility 93.25  % 40.47  %
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, 2019 1,337  $ 13.05 
Exercised (407) 9.08 
Canceled (34) 18.89 
Outstanding at September 30, 2020 896  $ 14.64  2.78 $ 7,811 
Vested and expected to vest at September 30, 2020 896  $ 14.64  2.75 $ 7,810 
Exercisable at September 30, 2020 739  $ 13.82  2.34 $ 7,064