Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.3.1.900
Stock-Based Compensation and Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-based compensation expense is classified in the consolidated statements of operations based on the department to which the related employee reports. The Company recognized stock-based compensation in the statements of operations as follows:
 
Years Ended December 31,
 
2015
 
2014
 
2013
 
(in thousands)
Cost of net revenue
$
213

 
$
131

 
$
108

Research and development
13,205

 
9,686

 
8,258

Selling, general and administrative
5,850

 
5,191

 
4,320

 
$
19,268

 
$
15,008

 
$
12,686

Fair Value of Employee Stock Purchase Rights
Employee Stock Purchase Rights
 
Years Ended December 31,
 
2015
 
2014
 
2013
Weighted-average grant date fair value per share
$2.25 - $5.02

 
$2.03 - $2.47

 
$1.85 - $2.09

Risk-free interest rate
0.09 - 0.33%

 
0.05 - 0.07%

 
0.09 - 0.10%

Dividend yield
—
%
 
—
%
 
—
%
Expected life (in years)
0.50

 
0.50

 
0.50

Volatility
32.65 - 59.14%

 
47.75 - 46.82%

 
39.24 - 41.58%

The fair values of stock options and employee stock purchase rights (related to the Company's ESPP) were estimated at their respective grant date using the following assumptions:
Stock Options
 
Years Ended December 31,
 
2015 (1)
 
2014
 
2013
Weighted-average grant date fair value per share
N/A
 
$
4.03

 
$
3.24

Risk-free interest rate
N/A
 
1.70
%
 
0.71
%
Dividend yield
N/A
 
—
%
 
—
%
Expected life (in years)
N/A
 
4.56

 
4.75

Volatility
N/A
 
51.00
%
 
56.00
%
Schedule of Stock by Class [Table Text Block]
As of December 31, 2015, common stock reserved for future issuance is as follows:
 
Number of Shares
(in thousands)
Stock options outstanding
3,572

Restricted stock units and restricted stock awards outstanding
3,642

Authorized for future grants under 2010 Equity Incentive Plan
4,694

Authorized for future issuance under 2010 Employee Stock Purchase Plan
1,247

Total
13,155

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the Company’s stock option 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, 2014
3,963

 
$
5.69

 
 
 
 
Granted (1)
—

 
N/A

 
 
 
 
Assumed (2)
1,894

 
13.83

 
 
 
 
Exercised
(1,080
)
 
5.97

 
 
 
 
Canceled
(1,205
)
 
14.86

 
 
 
 
Outstanding at December 31, 2015
3,572

 
$
6.83

 
3.66
 
$
29,567

Vested and expected to vest at December 31, 2015
3,549

 
$
6.82

 
3.64
 
$
29,408

Exercisable at December 31, 2015
2,887

 
$
6.75

 
3.45
 
$
24,362

Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
A summary of the Company’s restricted stock unit and restricted stock award activity is as follows:
 
Number of Shares
(in thousands)
 
Weighted-Average Grant-Date Fair Value per Share
Outstanding at December 31, 2014
3,512

 
$
7.00

Granted
2,963

 
10.41

Assumed (1)
1,303

 
8.79

Vested
(3,022
)
 
7.92

Canceled
(1,114
)
 
8.45

Outstanding at December 31, 2015
3,642

 
9.19