Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.10.0.1
Stock-Based Compensation and Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
 
Years Ended December 31,
 
2018
 
2017
 
2016
 
(in thousands)
Cost of net revenue
$
489

 
$
332

 
$
210

Research and development
17,953

 
16,190

 
14,403

Selling, general and administrative
13,279

 
11,016

 
7,152

Restructuring expense
—

 
5,130

 
—

 
$
31,721

 
$
32,668

 
$
21,765

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
A summary of the Company’s restricted stock unit and restricted stock award activity for the year ended December 31, 2018 is as follows:
 
Number of Shares
(in thousands)
 
Weighted-Average Grant-Date Fair Value per Share
Outstanding at December 31, 2017
3,183

 
$
20.13

  Granted
2,460

 
19.40

  Vested
(1,736
)
 
18.64

  Canceled
(644
)
 
20.90

Outstanding at December 31, 2018
3,263

 
20.23

Fair Value of Employee Stock Purchase Rights
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:
 
Years Ended December 31,
 
2018
 
2017
 
2016
Weighted-average grant date fair value per share
$5.01 - $5.37

 
$6.20 - $7.46

 
$5.85 - $6.20

Risk-free interest rate
2.09 - 2.51%

 
0.60 - 1.39%

 
0.38 - 0.6%

Dividend yield
—
%
 
—
%
 
—
%
Expected term (in years)
0.5

 
0.38 - 0.50

 
0.5

Volatility
38.82 - 46.17%

 
29.56 - 49.94%

 
49.94 - 53.94%

Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the Company’s stock option activity for the year ended December 31, 2018 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, 2017
3,069

 
$
8.95

 
 
 
 
Granted
335

 
18.40

 
 
 
 
Exercised
(636
)
 
7.04

 
 
 
 
Canceled
(109
)
 
16.82

 
 
 
 
Outstanding at December 31, 2018
2,659

 
$
10.27

 
2.23
 
$
20,800

Vested and expected to vest at December 31, 2018
2,630

 
$
10.19

 
2.19
 
$
20,782

Exercisable at December 31, 2018
2,184

 
$
8.71

 
1.43
 
$
20,322

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair values of stock options granted were estimated using the Black-Scholes option pricing model on the grant date using the following assumptions:
 
Years Ended December 31,
 
2018
 
2017(1)
 
2016(2)
Weighted-average grant date fair value per share
$
8.14

 
8.77 - 21.04

 
N/A
Risk-free interest rate
2.76
%
 
1.29% - 1.99%

 
N/A
Dividend yield
—
%
 
—
%
 
N/A
Expected term (in years)
5.5

 
1.6 - 6.0

 
N/A
Volatility
44.30
%
 
45.39% - 50.32%

 
N/A