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Stockholders' Equity (Tables)

9 Months Ended

Sep. 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 nine months ended September 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	279		78.86
Released	(394)		39.00
Forfeited	(85)		50.82
Units outstanding, end of period	1,049		56.34	$	95,112

Summary of Performance Stock Unit Activity

The following table summarizes Performance Stock Units (“PSUs”) activity, inclusive of XSUs, for the nine months ended September 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	380		55.94
Released	(160)		25.20
Forfeited	(474)		43.09
Units outstanding, end of period	5,779		35.43	$	524,180

Summary of the Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 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	7.41	$	395,449
Options exercisable, end of period	1		4.70	0.26		2

Stock-Based Compensation

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Cost of products sold and services delivered	$	744	$	312	$	2,170	$	775
Sales, general and administrative expenses		19,117		9,508		60,853		19,130
Research and development expenses		6,233		3,843		17,101		10,290
Total stock-based compensation expense	$	26,094	$	13,663	$	80,124	$	30,195