Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.24.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
The Company recognizes stock-based compensation in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
Year Ended December 31,
2023 2022 2021
(in thousands)
Cost of net revenue $ 763  $ 734  $ 620 
Research and development 44,189  40,635  30,364 
Selling, general and administrative 10,224  40,335  28,374 
$ 55,176  $ 81,704  $ 59,358 
Schedule of Restricted Stock Unit 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, 2022 6,080  $ 35.01 
  Granted 3,135  37.93 
  Vested (2,958) 34.07 
  Canceled (625) 38.71 
Outstanding at December 31, 2023 5,632  $ 36.72 
Schedule of Performance-Based Restricted Stock Unit Activity
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, 2022 1,950  $ 34.07 
  Granted(1)
1,039  32.66 
  Vested (248) 22.03 
  Canceled (88) 41.75 
Outstanding at December 31, 2023 2,653  $ 34.38 
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(1) Number of shares granted is based on the maximum percentage achievable in the performance-based restricted stock unit award.
Schedule of 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:
Year Ended December 31,
2023 2022 2021
Weighted-average grant date fair value per share
$6.35 - 11.97
$11.97 - 14.25
$10.85 - 18.82
Risk-free interest rate
4.54 - 5.41%
1.54 - 4.54%
0.04% - 0.06%
Dividend yield —  % —  % —  %
Expected life (in years) 0.50 0.50 0.50
Volatility
59.78 - 70.46%
59.78 - 69.74%
43.83 - 61.1%
Schedule of Stock Option Activity
A summary of the Company’s stock options activity is as follows:
Number of Options
(in thousands)		 Weighted-Average Exercise Price Weighted-Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2022 393  $ 17.22 
Exercised (15) 15.30 
Canceled (3) (19.62)
Outstanding at December 31, 2023 375  $ 17.29  1.52 $ 1,583 
Vested and expected to vest at December 31, 2023 375  $ 17.29  1.52 $ 1,583 
Exercisable at December 31, 2023 375  $ 17.29  1.52 $ 1,583