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Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2022
Stock-Based Compensation Expense The following table presents stock-based compensation expense in the Company’s consolidated statements of comprehensive income:

 

 

 

Three Months Ended
 March 31,

 

 

 

2022

 

 

2021

 

 

 

(Amounts in thousands)

 

Cost of product revenue

 

$

622

 

 

$

506

 

Research and development

 

 

799

 

 

 

716

 

Selling, general and administrative

 

 

6,494

 

 

 

5,319

 

Total stock-based compensation

 

$

7,915

 

 

$

6,541

 

 

 

 

 

 

 

 
Summary of Option Activity

Information regarding option activity for the three months ended March 31, 2022 under the Plans is summarized below:

 

 

 

Shares

 

 

Weighted
average
exercise
price

 

 

Weighted-
Average
Remaining
Contractual
Term
(in Years)

 

 

Aggregate
Intrinsic
Value
(in Thousands)

 

Options outstanding at December 31, 2021

 

 

625,107

 

 

$

54.15

 

 

 

6.29

 

 

$

131,707

 

Granted

 

 

34,473

 

 

$

189.21

 

 

 

 

 

 

 

Exercised

 

 

(9,521

)

 

$

31.12

 

 

 

 

 

 

 

Forfeited/expired/cancelled

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Options outstanding at March 31, 2022

 

 

650,059

 

 

$

61.65

 

 

 

6.27

 

 

$

82,990

 

Options exercisable at March 31, 2022

 

 

376,069

 

 

$

42.55

 

 

 

5.61

 

 

$

54,931

 

Vested and expected to vest at March 31, 2022(1)

 

 

631,360

 

 

 

 

 

 

6.26

 

 

$

80,798

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(1)
Represents the number of vested options as of March 31, 2022 plus the number of unvested options expected to vest as of March 31, 2022 based on the unvested outstanding options at March 31, 2022 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.
Summary of Restricted Stock Unit Activity Information regarding stock unit activity, which includes activity for RSUs and performance stock units, for the three months ended March 31, 2022 under the Plans is summarized below:

 

 

 

Shares

 

 

Weighted-
Average
Remaining
Contractual
Term
(in Years)

 

 

Aggregate
Intrinsic
Value
(in Thousands)

 

Unvested at December 31, 2021

 

 

606,685

 

 

 

3.07

 

 

$

160,674

 

Awarded

 

 

124,139

 

 

 

 

 

 

 

Vested

 

 

(130,978

)

 

 

 

 

 

 

Forfeited/expired/cancelled

 

 

(8,469

)

 

 

 

 

 

 

Unvested at March 31, 2022

 

 

591,377

 

 

 

3.09

 

 

$

111,232

 

Vested and expected to vest at March 31, 2022(1)

 

 

574,925

 

 

 

2.73

 

 

$

108,138

 

 

(1)
Represents the number of vested stock units as of March 31, 2022 plus the number of unvested stock units expected to vest as of March 31, 2022 based on the unvested outstanding stock units at March 31, 2022 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.