Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Stock-Based Compensation. |
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Schedule summarizing stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan |
Stock Options The following table summarizes stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan: | | | | | | | | | | | | | | Number of | | | | | Weighted- | | | | | | | shares | | Weighted- | | average | | Aggregate | | | | underlying | | average | | remaining | | intrinsic | | | | options | | exercise price | | contractual | | value (in | | | | (in thousands) | | per share | | life (in years) | | thousands) | | Outstanding at December 31, 2016 | | 5,911 | | $ | 12.59 | | 7.3 | | | 129,591 | | Granted | | 1,877 | | | 43.85 | | | | | | | Exercised | | (639) | | | 5.76 | | | | | 22,105 | | Canceled/forfeited/expired | | (123) | | | 23.79 | | | | | | | Outstanding at December 31, 2017 | | 7,026 | | $ | 21.36 | | 7.3 | | $ | 69,555 | | Granted | | 896 | | | 30.83 | | | | | | | Exercised | | (1,304) | | | 14.27 | | | | | 46,639 | | Canceled/forfeited/expired | | (311) | | | 31.14 | | | | | | | Outstanding at December 31, 2018 | | 6,307 | | $ | 23.69 | | 6.7 | | $ | 204,896 | | Granted | | 186 | | | 68.10 | | | | | | | Replacement Awards | | 803 | | | 13.64 | | | | | | | Exercised | | (696) | | | 21.53 | | | | | 33,132 | | Canceled/forfeited/expired | | (17) | | | 42.75 | | | | | | | Outstanding at December 31, 2019 | | 6,583 | | $ | 23.91 | | 6.1 | | $ | 204,062 | | Vested and expected to vest at December 31, 2019 | | 6,418 | | $ | 24.16 | | 6.2 | | $ | 197,261 | | Exercisable at December 31, 2019 | | 4,985 | | $ | 19.71 | | 5.5 | | $ | 173,590 | |
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Schedule of the weighted-average assumptions used to estimate the fair value of options granted to employees |
| | | | | | | | | | | | | | Year ended | | | | | December 31, | | | | | 2019 | | | 2018 | | | 2017 | | Risk-free interest rate | | | 2.17 | % | | 2.67 | % | | 2.13 | % | Expected dividend yield | | | 0.0 | % | | 0.0 | % | | 0.0 | % | Expected volatility | | | 46.8 | % | | 44.9 | % | | 46.5 | % | Expected term (in years) | | | 6.01 | | | 6.10 | | | 6.04 | |
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Schedule summarizing restricted stock unit activity |
| | | | | | | | | | | | | Weighted- | | | | | Number of | | average | | | | | shares | | grant date | | | | | (in thousands) | | fair value | | Unvested at December 31, 2017 | | | 173 | | $ | 39.10 | | Granted | | | 419 | | | 33.64 | | Vested | | | (41) | | | 39.36 | | Canceled/forfeited | | | (19) | | | 33.67 | | Unvested at December 31, 2018 | | | 532 | | $ | 35.17 | | Granted | | | 323 | | | 69.76 | | Replacement Awards | | | 102 | | | 63.07 | | Vested | | | (237) | | | 36.54 | | Canceled/forfeited | | | (25) | | | 44.59 | | Unvested at December 31, 2019 | | | 695 | | $ | 54.40 | |
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Schedule summarizing cash settled stock options activity |
| | | | | | | | | | | | | | Number of | | | | | Weighted- | | | | | | | shares | | Weighted- | | average | | Aggregate | | | | underlying | | average | | remaining | | intrinsic | | | | options | | exercise price | | contractual | | value (in | | | | (in thousands) | | per share | | life (in years) | | thousands) | | Outstanding at December 31, 2018 | | — | | $ | — | | — | | $ | — | | Replacement Awards | | 230 | | | 25.89 | | | | | | | Exercised | | — | | | — | | | | | — | | Canceled/forfeited/expired | | — | | | — | | | | | | | Outstanding at December 31, 2019 | | 230 | | $ | 25.89 | | 0.5 | | $ | 6,572 | | Exercisable at December 31, 2019 | | 230 | | $ | 25.89 | | 0.5 | | $ | 6,572 | |
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Schedule summarizing the allocation of stock-based compensation |
The following table summarizes the allocation of stock-based compensation related to stock options and RSUs and includes Replacement Awards, as well as cash-settled stock options in the accompanying consolidated statements of operations (in thousands): | | | | | | | | | | | | | Year ended | | | | December 31, | | | | 2019 | | 2018 | | 2017 | | | | | | | | | | | | | Cost of sales | | $ | 1,127 | | $ | 703 | | $ | 597 | | Selling, general & administrative | | | 31,801 | | | 19,816 | | | 13,006 | | Research and development | | | 6,553 | | | 5,185 | | | 3,989 | | Total | | $ | 39,481 | | $ | 25,704 | | $ | 17,592 | |
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Schedule of Common stock reserved for issuance |
Common stock reserved for issuance is as follows (in thousands): | | | | | | As of | | | | December 31, | | | | 2019 | | | | | | Stock options issued and outstanding—2001 Plan | | 413 | | Stock options issued and outstanding—2011 Plan | | 1,384 | | Stock options issued and outstanding—2015 Plan | | 4,786 | | Employee stock purchase plan | | 1,341 | | Authorized for future stock awards or option grants | | 5,405 | | | | 13,329 | |
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