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 |
|
|