Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.19.1
Stock-Based Compensation and Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
The Company recognizes stock-based compensation in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
 
Three Months Ended March 31,
 
2019
 
2018
 
(in thousands)
Cost of net revenue
$
130

 
$
106

Research and development
4,213

 
4,374

Selling, general and administrative
3,404

 
3,993

 
$
7,747

 
$
8,473

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
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, 2018
3,263

 
$
20.23

  Granted
367

 
23.51

  Vested
(636
)
 
20.83

  Canceled
(99
)
 
21.00

Outstanding at March 31, 2019
2,895

 
20.49

Schedule of Share-based Payment 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:
 
Three Months Ended March 31,
 
2019
 
2018
Weighted-average grant date fair value per share
$
5.01

 
$
6.51

Risk-free interest rate
2.51
%
 
1.39
%
Dividend yield
—
%
 
—
%
Expected life (in years)
0.50

 
0.50

Volatility
38.82
%
 
36.97
%
Share-based Compensation, Stock Options, Activity
 
Number of Options
(in thousands)
 
Weighted-Average Exercise Price
 
Weighted-Average Contractual Term (in years)
 
Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018
2,659

 
$
10.27

 
 
 
 
Exercised
(609
)
 
7.08

 
 
 
 
Canceled
(7
)
 
20.50

 
 
 
 
Outstanding at March 31, 2019
2,043

 
$
11.19

 
2.43
 
$
29,376

Vested and expected to vest at March 31, 2019
2,020

 
$
11.11

 
2.39
 
$
29,206

Exercisable at March 31, 2019
1,602

 
$
9.41

 
1.50
 
$
25,893