Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
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,
2021 2020 2019
(in thousands)
Cost of net revenue $ 620  $ 577  $ 557 
Research and development 30,364  22,252  16,545 
Selling, general and administrative 28,374  24,172  14,938 
Restructuring expense —  596  — 
$ 59,358  $ 47,597  $ 32,040 
Summary 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, 2020 5,832  $ 20.05 
  Granted 2,233  39.16 
  Vested (2,168) 26.16 
  Canceled (664) 24.28 
Outstanding at December 31, 2021 5,233  $ 25.14 
Summary 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, 2020 1,722  $ 13.97 
  Granted(1)
599  35.10 
  Vested (311) 16.74 
  Canceled (5) 35.72 
Outstanding at December 31, 2021 2,005  $ 19.80 
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(1) Number of shares granted is based on the maximum percentage achievable in the performance-based restricted stock unit 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:
Year Ended December 31,
2021 2020 2019
Weighted-average grant date fair value per share
$10.85 - 18.82
$6.41 - 8.66
$5.48 - 6.61
Risk-free interest rate
0.04 - 0.06%
0.12 - 0.15%
1.59% - 2.43%
Dividend yield —  % —  % —%
Expected life (in years) 0.50 0.50 0.50
Volatility
43.83 - 61.1%
59.72 - 93.25%
40.47 - 43.14%
Summary 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, 2020 797  $ 14.67 
Exercised (380) 12.04 
Outstanding at December 31, 2021 417  $ 17.05  3.28 $ 24,355 
Vested and expected to vest at December 31, 2021 417  $ 17.05  3.28 $ 24,355 
Exercisable at December 31, 2021 369  $ 16.87  3.24 $ 21,571