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STOCKHOLDERS’ EQUITY (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Assumptions used in black-scholes options pricing model The following weighted average assumptions were used in the Black-Scholes options pricing model to estimate the fair value of stock options for the specified reporting periods:
Twelve Months Ended December 31,
 202120202019
Risk free rate0.6 %1.5 %2.3 %
Expected volatility59 %64 %68 %
Expected life (in years)6.46.36.2
Expected dividend yield— — — 
Share-based compensation, stock options, activity
The following table summarizes our stock option activity and related information for the year ended December 31, 2021:
  Weighted Average 
 
Shares Underlying
Options
Exercise
Price
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding at December 31, 20208,242,996 $18.97 6.43$71,641 
Granted1,850,407 25.32 — — 
Forfeited and expired(427,289)24.37 — — 
Exercised(779,830)16.47 — 7,538 
Outstanding at December 31, 20218,886,284 $20.26 6.27$96,577 
The following table summarizes our stock options exercisable at December 31, 2021, 2020 and 2019:
  Weighted Average 
Shares Underlying
Options
Exercise
Price
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic Value
(in thousands)
20194,936,995 $18.93 5.62$4,490 
20205,488,207 $19.37 5.36$46,626 
20216,011,349 $19.34 5.16$71,063 
Schedule of unvested restricted shares
The following table summarizes our restricted stock unit activity for the year ended December 31, 2021:
 
Number of
RSUs
Weighted Average
Grant Date Fair Value
Unvested December 31, 20201,109,942 $17.84 
Granted911,523 25.06 
Vested(408,136)18.08 
Forfeited/cancelled(139,380)21.62 
Unvested December 31, 20211,473,949 $21.88 
Share-based compensation, performance shares award nonvested activity
The following table summarizes our performance-based stock unit activity for the year ended December 31, 2021:
 
Number of
PSUs
Weighted Average
Grant Date Fair Value
Unvested December 31, 2020167,500 $16.48 
Granted— — 
Vested(115,000)15.46 
Forfeited/cancelled— — 
Unvested December 31, 202152,500 $18.73 
Schedule of share based compensation expenses
Total non-cash stock-based compensation expense consisted of the following for the years ended December 31, 2021, 2020 and 2019 (in thousands):
 Twelve Months Ended December 31,
 202120202019
Selling, general and administrative expenses$18,134 $14,247 $14,195 
Research and development expenses12,632 9,367 6,910 
Total$30,766 $23,614 $21,105