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STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

NOTE 11. STOCK-BASED COMPENSATION

Expense


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2021		2020		2021		2020
Cost of revenue	$	5,114	$	5,100	$	16,889	$	15,636
Selling and marketing	13,376		12,658		41,844		33,968
Research and development	6,231		5,765		19,343		17,066
General and administrative	3,974		4,402		11,407		10,085
	$	28,695	$	27,925	$	89,483	$	76,755
Income tax benefit	$	(5,845)	$	(5,604)	$	(18,028)	$	(15,293)

As of September 30, 2021, the Company had $131.7 million of unrecognized stock-based compensation expense, net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 2.1 years.

Grants


	Nine Months Ended September 30, 2021
(in thousands)	Shares	Total Fair Value
Restricted stock units	819	$	106,286
Non-qualified stock options	1,472	$	55,643
Common stock	5	$	601