Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.20.2
Stock-Based Compensation and Employee Benefit Plans (Tables)
 6 Months Ended
Jun. 30, 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 June 30, Six Months Ended June 30,
2020 2019 2020 2019
(in thousands) (in thousands)
Cost of net revenue $ 126    $ 147    $ 274    $ 277   
Research and development 5,040    4,222    8,786    8,435   
Selling, general and administrative 6,919    3,838    9,852    7,242   
$ 12,085    $ 8,207    $ 18,912    $ 15,954   
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 2,262    12.33   
  Vested (736)   19.37   
  Canceled (170)   18.02   
Outstanding at June 30, 2020 4,280    $ 17.31   
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 June 30, 2020 1,808    $ 13.95   
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(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:
Six Months Ended June 30,
2020 2019
Weighted-average grant date fair value per share $ 6.41    $ 6.61   
Risk-free interest rate 0.15  % 2.43  %
Dividend yield —  % —  %
Expected life (in years) 0.51 0.50
Volatility 93.25  % 40.47  %
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 (358)   7.40   
Canceled (22)   14.23   
Outstanding at June 30, 2020 957    $ 15.14    2.90 $ 6,366   
Vested and expected to vest at June 30, 2020 957    $ 15.13    2.90 $ 6,366   
Exercisable at June 30, 2020 776    $ 14.34    2.40 $ 5,829