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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020


		Eight Separate Adjusted EBITDA (CEO
Eight Separate Revenue Goals ⁽¹⁾		Performance Award) Goals
(in thousands)		(in thousands)
Goal #1, $710,058		Goal #9, $125,000
Goal #2, $860,058		Goal #10, $155,000
Goal #3, $1,010,058		Goal #11, $175,000
Goal #4, $1,210,058		Goal #12, $190,000
Goal #5, $1,410,058		Goal #13, $200,000
Goal #6, $1,610,058		Goal #14, $210,000
Goal #7, $1,810,058		Goal #15, $220,000
Goal #8, $2,010,058		Goal #16, $230,000

(1)	In connection with the business acquisition that was completed during the three months ended June 30, 2018, the revenue goals were adjusted for the acquiree’s Target Revenue, as defined in the CEO Performance Award agreement.

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the six months ended June 30, 2020 (number of units and aggregate intrinsic value in thousands):


	Number of	Weighted Average		Aggregate
	Units	Grant-Date Fair Value		Intrinsic Value
Units outstanding, beginning of year	1,249	$	45.47
Granted	189		74.44
Released	(303)		36.90
Forfeited	(68)		46.85
Units outstanding, end of period	1,067		52.93	$	104,743

Summary of Performance Stock Unit Activity

The following table summarizes Performance Stock Units (“PSUs”) activity, inclusive of XSUs, for the six months ended June 30, 2020 (number of units and aggregate intrinsic value in thousands):


	Number of	Weighted Average		Aggregate
	Units	Grant-Date Fair Value		Intrinsic Value
Units outstanding, beginning of year	6,033	$	34.47
Granted	229		49.90
Released	(158)		24.88
Forfeited	(303)		36.10
Units outstanding, end of period	5,801		35.26	$	569,207

Summary of the Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2020 (number of units and aggregate intrinsic value in thousands):


				Weighted
		Weighted		Average
	Number	Average		Remaining
	of	Exercise		Contractual	Aggregate
	Options	Price		Life (years)	Intrinsic Value
Options outstanding, beginning of year	6,431	$	28.34
Granted	—		—
Exercised	(65)		4.52
Expired / terminated	—		—
Options outstanding, end of period	6,366		28.58	7.66	$	442,748
Options exercisable, end of period	1		4.70	0.51		3

Stock-Based Compensation

The following table summarizes the composition of stock-based compensation expense for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Cost of products sold and services delivered	$	836	$	237	$	1,426	$	463
Sales, general and administrative expenses		26,766		4,941		41,736		9,622
Research and development expenses		6,233		3,449		10,868		6,447
Total stock-based compensation expense	$	33,835	$	8,627	$	54,030	$	16,532