Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.19.3
Stock-Based Compensation and Employee Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [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 September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
 
(in thousands)
 
(in thousands)
Cost of net revenue
$
151

 
$
131

 
$
428

 
$
357

Research and development
4,155

 
4,726

 
12,590

 
13,554

Selling, general and administrative
4,053

 
3,070

 
11,295

 
9,798

 
$
8,359

 
$
7,927

 
$
24,313

 
$
23,709


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

 
$
20.23

  Granted
1,473

 
23.47

  Vested
(1,286
)
 
20.00

  Canceled
(299
)
 
21.32

Outstanding at September 30, 2019
3,151

 
21.73


Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]
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, 2018
—

 
$
—

  Granted(1)
445

 
22.21

Outstanding at September 30, 2019
445

 
22.21

________________
(1) Number of shares granted is based on the maximum percentage achievable in the performance-based restricted stock unit award.
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:
 
Nine Months Ended September 30,
 
2019
 
2018
Weighted-average grant date fair value per share
$
6.61

 
$
5.37

Risk-free interest rate
2.43
%
 
2.09
%
Dividend yield
—
%
 
—
%
Expected life (in years)
0.50

 
0.50

Volatility
40.47
%
 
46.00
%

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
(1,239
)
 
7.21

 
 
 
 
Canceled
(20
)
 
18.56

 
 
 
 
Outstanding at September 30, 2019
1,400

 
$
12.87

 
2.70
 
$
13,554

Vested and expected to vest at September 30, 2019
1,389

 
$
12.82

 
2.68
 
$
13,512

Exercisable at September 30, 2019
1,120

 
$
11.53

 
2.00
 
$
12,371