Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Employee Benefit Plans (Tables)

v3.21.1
Stock-Based Compensation and Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 31, 2021
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,
2021 2020
(in thousands)
Cost of net revenue $ 169  $ 148 
Research and development 7,162  3,746 
Selling, general and administrative 5,624  2,933 
$ 12,955  $ 6,827 
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, 2020 5,832  $ 20.05 
  Granted 722  39.27 
  Vested (722) 36.12 
  Canceled (139) 21.34 
Outstanding at March 31, 2021 5,693  $ 20.42 
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, 2020 1,722  $ 13.97 
  Vested (281) 16.74 
Outstanding at March 31, 2021 1,441  $ 13.54 
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,
2021 2020
Weighted-average grant date fair value per share $ 8.66  $ 5.48 
Risk-free interest rate 0.12  % 1.59  %
Dividend yield —  % —  %
Expected life (in years) 0.50 0.50
Volatility 59.72  % 43.14  %
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, 2020 797  $ 14.67 
Exercised (96) 13.56 
Canceled —  — 
Outstanding at March 31, 2021 701  $ 14.82  2.75 $ 13,509 
Vested and expected to vest at March 31, 2021 701  $ 14.82  2.75 $ 13,509 
Exercisable at March 31, 2021 589  $ 14.13  2.44 $ 11,758