Stock-based compensation (Tables)
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12 Months Ended |
Mar. 31, 2020 |
Share-based Payment Arrangement [Abstract] |
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Summary of Stock Option Activity and Related Information |
The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition as follows: | | | | | | | | | | | | | | | Options outstanding | | Weighted-average exercise price | | Weighted-average remaining contractual life (in years) | | Aggregate intrinsic values (in thousands) (1) | Balance as of December 31, 2018 | 2,746,670 |
| | $ | 12.91 |
| | | | | Granted | 115,100 |
| | 7.95 |
| | | | | Canceled or forfeited | (286,191 | ) | | 16.98 |
| | | | | Balance as of March 31, 2019 | 2,575,579 |
| | 12.24 |
| | 6.9 | | $ | 6,958 |
| Granted | 202,560 |
| | 14.18 |
| | | | |
| Exercised | (334,572 | ) | | 4.08 |
| | | | |
| Canceled or forfeited | (444,014 | ) | | 15.07 |
| | | | |
| Balance as of March 31, 2020 | 1,999,553 |
| | $ | 13.17 |
| | 6.8 | | $ | 3,773 |
| | | | | | | | | Exercisable, March 31, 2020 | 1,291,647 |
| | $ | 12.06 |
| | 6.1 | | $ | 3,469 |
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| | (1) | The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $9.84, as reported on the New York Stock Exchange on March 31, 2020. |
| | | | | | | | | | | | | | | Options outstanding | | Weighted-average exercise price | | Weighted-average remaining contractual life (in years) | | Aggregate intrinsic values (in thousands) (1) | Balance as of December 31, 2018 | 1,482,782 |
| | $ | 8.94 |
| | | | | Exercised | (62,450 | ) | | 1.84 |
| | | | | Canceled or forfeited | (96,900 | ) | | 26.84 |
| | | | | Balance as of March 31, 2019 | 1,323,432 |
| | 7.96 |
| | 6.0 | | $ | 8,646 |
| Exercised | (53,100 | ) | | 2.40 |
| | | | | Canceled or forfeited | (17,400 | ) | | 26.84 |
| | | | | Balance as of March 31, 2020 | 1,252,932 |
| | $ | 7.97 |
| | 5.0 | | $ | 7,487 |
| | | | | | | | | Exercisable, March 31, 2020 | 952,932 |
| | $ | 1.98 |
| | 4.4 | | $ | 7,487 |
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(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $9.84, as reported on the New York Stock Exchange on March 31, 2020.
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Summary of Additional Information Relating to Stock Options Activity |
Additional information relating to service-based options is as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | | | Year ended March 31, | | Three months ended March 31, (transition period) | | Year ended December 31, | | 2020 | | 2019 | | 2018 | | 2017 | Stock-based compensation expense | $ | 2,308 |
| | $ | 590 |
| | $ | 3,219 |
| | $ | 2,435 |
| Intrinsic value of options exercised | 3,580 |
| | — |
| | 2,890 |
| | 12,841 |
| Weighted-average grant date fair value of options granted (per share) | $ | 5.55 |
| | $ | 3.12 |
| | $ | 6.81 |
| | $ | 9.51 |
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Additional information relating to options that vest based upon the satisfaction of performance or market conditions is as follows (in thousands, except per share data): | | | | | | | | | | | | | | | | | | Year ended March 31, | | Three months ended March 31, (transition period) | | Year ended December 31, | | 2020 | | 2019 | | 2018 | | 2017 | Stock-based compensation expense | $ | — |
| | $ | — |
| | $ | 1,168 |
| | $ | 3,489 |
| Intrinsic value of options exercised | 609 |
| | 419 |
| | 8,669 |
| | 42,874 |
| Weighted-average grant date fair value of options granted (per share) | $ | — |
| | $ | — |
| | $ | — |
| | $ | 10.65 |
|
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Summary of Weighted-Average Assumptions |
The fair value of service-based stock options granted were calculated using the following weighted-average assumptions: | | | | | | | | | | | | | | Year ended March 31, | | Three months ended March 31, (transition period) | | Year ended December 31, | | 2020 | | 2019 | | 2018 | | 2017 | Expected term (in years) | 6.5 |
| | 6.3 |
| | 6.3 |
| | 6.2 |
| Expected volatility | 35.57 | % | | 35.13 | % | | 32.02 | % | | 32.42 | % | Risk-free interest rate | 2.07 | % | | 2.55 | % | | 2.68 | % | | 2.14 | % | Expected dividend yield | — | % | | — | % | | — | % | | — | % |
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Summary of Restricted Stock Unit Activity and Related Information |
The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) as follows: | | | | | | | | | Shares of restricted stock outstanding | | Weighted-average grant date fair value | Balance as of December 31, 2018 | 2,036,124 |
| | $ | 20.01 |
| Granted (1) | 1,464,710 |
| | 7.64 |
| Vested | (396,514 | ) | | 21.79 |
| Canceled or forfeited | (317,922 | ) | | 20.06 |
| Balance as of March 31, 2019 | 2,786,398 |
| | 13.26 |
| Granted | 673,461 |
| | 14.26 |
| Vested | (762,818 | ) | | 15.97 |
| Canceled or forfeited | (385,273 | ) | | 12.66 |
| Balance as of March 31, 2020 | 2,311,768 |
| | $ | 12.86 |
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(1) Includes restricted stock awards granted in the period ending March 31, 2019 that vest based upon the achievement of a specified stock price and satisfaction of a service condition. The fair values and derived service periods were determined using a Monte Carlo simulation model.
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Disclosure of Additional Information |
Additional information relating to RSAs and RSUs is as follows (in thousands): | | | | | | | | | | | | | | | | | | Year ended March 31, | | Three months ended March 31, (transition period) | | Year ended December 31, | | 2020 | | 2019 | | 2018 | | 2017 | Stock-based compensation expense | $ | 13,181 |
| | $ | 3,093 |
| | $ | 12,434 |
| | $ | 7,550 |
| Intrinsic value of RSUs released | $ | 12,448 |
| | $ | 3,387 |
| | $ | 6,280 |
| | $ | 3,398 |
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