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Employee Equity-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes option activity under all plans during the nine-month period ended September 30, 2018:

 
Number of Shares
Weighted Average Exercise Price per Share
Options Outstanding January 1, 2018
7,328,131

$
10.16

Granted
1,355,371

24.70

Forfeited
(131,226
)
21.35

Exercised
(351,626
)
10.55

Expired
(18,266
)
24.24

Options Outstanding September 30, 2018
8,182,384

$
12.34

Inputs to Calculate Estimated Fair Value of Options Awarded
The table below summarizes the resulting weighted average inputs used to calculate the estimated fair value of options awarded during the periods shown below:

 
Three Months Ended
 
September 30,
September 30,
 
2018
2017
Expected term (in years)
5.53

6.46

Volatility
58
%
74
%
Expected dividends


Risk free interest rates
2.75
%
2.02
%
Weighted average fair value
$
11.48

$
15.74

Stock Option Supplemental Information
The following table shows summary information for outstanding options and options that are exercisable (vested) as of September 30, 2018:

 
Options
Outstanding
Options
Exercisable
Number of options
8,182,384

5,751,558

Weighted average remaining contractual term (in years)
6.05

4.95

Weighted average exercise price
$
12.34

$
8.26

Weighted average fair value
$
8.57

$
5.83

Aggregate intrinsic value (in thousands)
$
91,273

$
85,694

Restricted Stock Unit (RSU) Activity
The following table summarizes restricted stock unit and restricted stock award activity during the nine-month period ending September 30, 2018:

 
Number of Shares
Weighted Average Grant Date Fair Value per Share
Outstanding January 1, 2018
24,150

$
26.45

Granted
50,000

20.80

Forfeited


Vested/released
(8,050
)
26.45

Outstanding September 30, 2018
66,100

22.18

Equity-Based Compensation Expenses
Equity-based compensation is summarized below (in thousands):

 
Three Months Ended
Nine Months Ended
 
September 30,
September 30,
September 30,
September 30,
 
2018
2017
2018
2017
Cost of sales
$
68

$
22

$
172

$
44

Research and development
1,476

994

3,926

2,886

Sales, general and administrative
1,921

2,504

8,378

8,040

Equity-based compensation expense
$
3,465

$
3,520

$
12,476

$
10,970