Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.6.0.2
Stock-Based Compensation and Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2016
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,
 
2016
 
2015
 
2014
 
(in thousands)
Cost of net revenue
$
210

 
$
213

 
$
131

Research and development
14,403

 
13,205

 
9,686

Selling, general and administrative
7,152

 
5,850

 
5,191

 
$
21,765

 
$
19,268

 
$
15,008

Fair Value of Employee Stock Purchase Rights
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,
 
2016 (1)
 
2015 (1)
 
2014
Weighted-average grant date fair value per share
N/A
 
N/A
 
$
4.03

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

Volatility
N/A
 
N/A
 
51.00
%
Employee Stock Purchase Rights
 
Years Ended December 31,
 
2016
 
2015
 
2014
Weighted-average grant date fair value per share
$5.85 - $6.20

 
$2.25 - $5.02

 
$2.03 - $2.47

Risk-free interest rate
0.38 - 0.6%

 
0.09 - 0.33%

 
0.05 - 0.07%

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

 
0.50

 
0.50

Volatility
49.94 - 53.94%

 
32.65 - 59.14%

 
47.75 - 46.82%

Schedule of Stock by Class [Table Text Block]
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, 2015
3,642

 
$
9.19

  Granted
2,932

 
18.83

  Vested
(2,308
)
 
11.32

  Canceled
(596
)
 
13.55

Outstanding at December 31, 2016
3,670

 
14.67

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, 2015
3,572

 
$
6.83

 
 
 
 
Granted (1)
—

 
N/A

 
 
 
 
Exercised
(492
)
 
5.13

 
 
 
 
Canceled
(55
)
 
24.15

 
 
 
 
Outstanding at December 31, 2016
3,025

 
$
6.78

 
2.73
 
$
45,603

Vested and expected to vest at December 31, 2016
3,018

 
$
6.78

 
2.73
 
$
45,522

Exercisable at December 31, 2016
2,760

 
$
6.65

 
2.62
 
$
41,991

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, 2015
3,642

 
$
9.19

  Granted
2,932

 
18.83

  Vested
(2,308
)
 
11.32

  Canceled
(596
)
 
13.55

Outstanding at December 31, 2016
3,670

 
14.67