Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.20.1
Stock-Based Compensation and Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2020
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 March 31,
2020 2019
(in thousands)
Cost of net revenue $ 148    $ 130   
Research and development 3,746    4,213   
Selling, general and administrative 2,933    3,404   
$ 6,827    $ 7,747   
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, 2019 2,924    $ 21.72   
  Granted 2,069    11.77   
  Vested (418)   16.72   
  Canceled (45)   21.29   
Outstanding at March 31, 2020 4,530    $ 17.64   
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, 2019 445    $ 22.21   
  Granted(1)
1,416    11.67   
  Vested (21)   22.21   
  Canceled (32)   22.21   
Outstanding at March 31, 2020 1,808    $ 13.95   
________________
(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:
Three Months Ended March 31,
2020 2019
Weighted-average grant date fair value per share $ 5.48    $ 5.01   
Risk-free interest rate 1.59  % 2.51  %
Dividend yield —  % —  %
Expected life (in years) 0.50 0.50
Volatility 43.14  % 38.82  %
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, 2019 1,337    $ 13.05   
Exercised (52)   9.50   
Canceled (22)   14.23   
Outstanding at March 31, 2020 1,263    $ 13.18    2.44 $ 2,207   
Vested and expected to vest at March 31, 2020 1,258    $ 13.15    2.42 $ 2,207   
Exercisable at March 31, 2020 1,053    $ 12.12    1.88 $ 2,207