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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2020
Employee Benefits And Share Based Compensation [Abstract]  
Schedule of Stock Option Activity

Stock option activity during the year ended December 31, 2020 was as follows:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

Per Share

 

 

Weighted

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic

Value

 

 

 

(In thousands)

 

 

(In dollars)

 

 

(In years)

 

 

(In thousands)

 

Outstanding as of December 31, 2019

 

 

2,188

 

 

$

26.03

 

 

 

 

 

 

 

 

 

Exercised

 

 

(778

)

 

 

21.79

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(21

)

 

 

35.85

 

 

 

 

 

 

 

 

 

Expired

 

 

(56

)

 

 

37.91

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2020

 

 

1,333

 

 

$

27.86

 

 

 

6.43

 

 

$

17,308

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest

 

 

1,333

 

 

$

27.86

 

 

 

6.43

 

 

$

17,308

 

Exercisable Options

 

 

912

 

 

$

27.09

 

 

 

5.67

 

 

$

12,552

 

 

Schedule of Ranges of Outstanding And Exercisable Stock Options

The following table summarizes significant ranges of outstanding and exercisable stock options as of December 31, 2020:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of Exercise Prices

 

Shares

Outstanding

 

 

Weighted-

Average

Remaining

Contractual

Life

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Shares

Exercisable

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

 

(In thousands)

 

 

(In years)

 

 

(In dollars)

 

 

(In thousands)

 

 

(In dollars)

 

$17.68 - $20.10

 

 

271

 

 

 

3.40

 

 

$

19.12

 

 

 

271

 

 

$

19.12

 

$21.86 - $25.37

 

 

338

 

 

 

5.62

 

 

$

24.35

 

 

 

307

 

 

$

24.25

 

$26.61 - $26.61

 

 

419

 

 

 

8.55

 

 

$

26.61

 

 

 

119

 

 

$

26.61

 

$29.23 - $38.32

 

 

34

 

 

 

7.49

 

 

$

37.21

 

 

 

17

 

 

$

38.32

 

$41.67 - $41.67

 

 

271

 

 

 

7.07

 

 

$

41.67

 

 

 

198

 

 

$

41.67

 

$17.68 - $41.67

 

 

1,333

 

 

 

6.43

 

 

$

27.86

 

 

 

912

 

 

$

27.09

 

Schedule of RSU Activity

RSU activity during the year ended December 31, 2020 was as follows:

 

 

Number

of Shares

 

 

Weighted

Average

Grant Date

Fair Value

Per Share

 

 

Weighted

Average

Remaining

Contractual

Term

 

 

Average

Intrinsic

Value

 

 

(In thousands)

 

 

(In dollars)

 

 

(In years)

 

 

(In thousands)

 

Outstanding as of December 31, 2019

 

1,587

 

 

$

33.95

 

 

 

 

 

 

 

 

 

Granted

 

712

 

 

 

25.29

 

 

 

 

 

 

 

 

 

Vested

 

(629

)

 

 

32.44

 

 

 

 

 

 

 

 

 

Cancelled

 

(86

)

 

 

34.03

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2020

 

1,584

 

 

$

30.66

 

 

 

1.32

 

 

$

64,347

 

 

Schedule of Performance Shares Activity

Performance shares were never granted in the years prior to 2020. Performance shares activity in the periods presented was as follows:

 

 

 

Number

of Shares

 

 

Weighted Average Grant Date Fair Value Per Share

 

 

Weighted Average Remaining Contractual Term

 

 

Average Intrinsic Value

 

 

 

(In thousands)

 

 

(In dollars)

 

 

(In years)

 

 

(In thousands)

 

Outstanding as of December 31, 2017

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Granted

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Cancelled

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Cancelled

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

141

 

 

$

28.22

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Cancelled

 

 

 

 

$

-

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2020

 

 

141

 

 

$

28.22

 

 

 

2.54

 

 

$

5,739

 

 

 

Schedule of Weighted Average Assumptions

The following table sets forth the weighted-average assumptions used to estimate the fair value of option grants and purchase rights granted under the ESPP during the years ended December 31, 2020, 2019 and 2018:

 

 

 

Year Ended December 31,

 

 

 

2020

 

2019

 

 

2018

 

 

2020

 

 

2019

 

 

2018

 

 

 

Stock Options

 

 

ESPP

 

Expected life (in years)

 

N/A

 

 

6.2

 

 

 

4.4

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Risk-free interest rate

 

N/A

 

 

1.85

%

 

 

2.36

%

 

 

0.72

%

 

 

2.06

%

 

 

2.00

%

Expected volatility

 

N/A

 

 

33.9

%

 

 

31.1

%

 

 

54.8

%

 

 

43.9

%

 

 

37.9

%

Dividend yield

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Total Stock-Based Compensation Expense Resulting from Stock Options, RSUs, Performance Shares and the ESPP

The following table sets forth the stock-based compensation expense resulting from stock options, RSUs, performance shares and the ESPP included in the Company’s consolidated statements of operations:

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Cost of revenue

 

$

4,091

 

 

$

2,843

 

 

$

2,435

 

Research and development

 

 

5,183

 

 

 

6,532

 

 

 

4,283

 

Sales and marketing

 

 

7,634

 

 

 

9,069

 

 

 

8,267

 

General and administrative

 

 

13,597

 

 

 

10,693

 

 

 

11,476

 

Total

 

$

30,505

 

 

$

29,137

 

 

$

26,461