Stock-based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2023 |
Share-Based Payment Arrangement [Abstract] |
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Schedule Of Supply Share Authorized Changes For The Equity-Based |
The following table summarizes the Company’s additional shares authorized changes for the 2015 Plan (in thousands):
| | | | | | | | | | | | | | | Board Approval Date | | Shares Added | | Total Additional Shares Authorized | May 1, 2015 | | 6,000 | | | 6,000 | | June 13, 2018 | | 4,525 | | | 10,500 | | April 15, 2021 | | 4,910 | | | 15,400 | | April 20, 2023 | | 4,000 | | | 19,400 | | November 2, 2023 | | 8,000 | | | 27,400 | |
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Schedule of Stock-Based Compensation Expense |
Total compensation expense by award type and line item in our consolidated financial statements was as follows (in thousands): | | | | | | | | | | | | | | | | | | | For the Year Ended December 31, | | 2023 | | 2022 | | 2021 | Award Type | | | | | | Stock options | $ | 74 | | | $ | 416 | | | $ | 1,337 | | | | | | | | RSUs | 26,718 | | | 17,327 | | | 9,606 | | Performance-based RSUs | 13,214 | | | 14,308 | | | 2,471 | | LSUs | 495 | | | 1,930 | | | 3,297 | | Total compensation expense by award type | $ | 40,501 | | | $ | 33,981 | | | $ | 16,711 | | | | | | | | Line Item | | | | | | Cost of revenue | $ | 1,662 | | | $ | 4,387 | | | $ | 2,263 | | Selling, general and administrative expenses | 38,839 | | | 29,594 | | | 14,448 | | Total compensation expense by financial statement line item | $ | 40,501 | | | $ | 33,981 | | | $ | 16,711 | |
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Schedule Of Unrecognized Compensation Expense |
Total unrecognized compensation expense (in thousands) and expected weighted-average period (in years) by award type for all of our stock-based incentive plans were as follows:
| | | | | | | | | | | | | As of December 31, 2023 | | Unrecognized Compensation Expense | | Weighted Average Period (years) | | | | | RSUs | $ | 42,132 | | | 1.39 | | | | | PSUs | 17,762 | | | 1.81 | Total | $ | 59,894 | | | |
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Schedule of Stock Option Information |
Information with respect to our stock options (in thousands), including weighted-average remaining contractual term (in years) and aggregate intrinsic value (in thousands) was as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Options | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term | | Aggregate Intrinsic Value | Outstanding as of December 31, 2022 | 1,895 | | | $ | 10.40 | | | 3.24 | | $ | 33,503 | | Exercised | (1,237) | | | 8.72 | | | | | | Forfeited | — | | | — | | | | | | Outstanding as of December 31, 2023 | 658 | | | $ | 13.23 | | | 4.99 | | $ | 13,032 | | | | | | | | | | Vested and expected to vest after December 31, 2023 | 658 | | | $ | 13.23 | | | 4.99 | | $ | 13,032 | | | | | | | | | | Exercisable as of December 31, 2023 | 658 | | | $ | 13.23 | | | 4.99 | | $ | 13,032 | |
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Schedule of Performance-Based Stock Option Awards Activity |
Information with respect to our performance-based stock options (shares and aggregate intrinsic value shown in thousands, weighted-average remaining contractual term shown in years) was as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Options | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term | | Aggregate Intrinsic Value | Outstanding as of December 31, 2022 | 268 | | | $ | 10.27 | | | 4.16 | | $ | 5,730 | | Exercised | (162) | | | 10.27 | | | | | | Outstanding as of December 31, 2023 | 106 | | | 10.27 | | | 2.17 | | 2,401 | | | | | | | | | | Vested and expected to vest after December 31, 2023 | 106 | | | $ | 10.27 | | | 2.17 | | $ | 2,401 | |
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Schedule of Restricted Stock Units Information |
Information with respect to our RSUs (not including performance-based RSUs) is presented below (in thousands, except for weighted-average grant-date fair value): | | | | | | | | | | | | | Total RSUs | | Weighted Average Grant Date Fair Value | Outstanding as of December 31, 2022 | 2,268 | | | $ | 22.09 | | Granted | 1,281 | | | 33.85 | | Forfeited | (428) | | | 27.64 | | Vested | (969) | | | 20.83 | | Outstanding as of December 31, 2023 | 2,152 | | | $ | 28.55 | |
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Schedule of Leveraged Stock Units Activity |
Information with respect to our LSU awards (shares and aggregate intrinsic value shown in thousands, weighted-average remaining contractual term shown in years) was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Leveraged Stock Units | | Weighted Average Grant Date Fair Value | | Weighted Average Remaining Contractual Term | | Aggregate Intrinsic Value | Outstanding as of December 31, 2022 | 520 | | | $ | 9.15 | | | 7.24 | | $ | 9,846 | | Change in achievement | 520 | | | 9.15 | | | | | | Vested | (1,040) | | | 9.15 | | | | | | Outstanding as of December 31, 2023 | — | | | $ | — | | | 0.00 | | $ | — | |
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Schedule of Price Assumptions for Performance Based Stock Units |
The price assumptions used for our performance based stock unit awards were as follows:
| | | | | | | | | | | | | 1st Tranche | | 2nd Tranche | Weighted-average fair value per performance based stock unit granted | $ | 20.64 | | | $ | 20.69 | | Assumptions: | | | | Expected term | 2 years | | 3 years | Expected volatility | 89.5 | % | | 77.7 | % | Risk-free interest rate | 0.12 | % | | 0.25 | % | Dividend yield | — | % | | — | % |
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Schedule Of Information Of Performance Based Stock Units |
Information with respect to our performance based restricted stock unit awards (shares and aggregate intrinsic value shown in thousands, weighted-average remaining contractual term shown in years) was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Performance Based Stock Units | | Weighted Average Grant Date Fair Value | | Weighted Average Remaining Contractual Term | | Aggregate Intrinsic Value | Outstanding as of December 31, 2022 | 1,396 | | | $ | 24.30 | | | 8.72 | | $ | 5,274 | | Granted | 542 | | | 34.07 | | | | | | Change in achievement | 72 | | | 26.60 | | | | | | Vested | (343) | | | 19.54 | | | | | | Forfeited | (14) | | | 31.77 | | | | | | Outstanding as of December 31, 2023 | 1,653 | | | $ | 30.53 | | | 8.42 | | $ | 4,131 | | | | | | | | | | Vested and expected to vest after December 31, 2023 | 1,653 | | | $ | 30.53 | | | 8.42 | | $ | 4,131 | |
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