Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2022

Stockholders' Equity

Equity Compensation Goals

Revenue Goal (1) (in thousands)	Achievement Status	Adjusted EBITDA (in thousands)	Achievement Status
Goal #1, $710,058	Achieved	Goal #1, $125,000	Achieved
Goal #2, $860,058	Achieved	Goal #2, $155,000	Achieved
Goal #3, $1,010,058	Probable	Goal #3, $175,000	Achieved
Goal #4, $1,210,058	Probable	Goal #4, $190,000	Achieved
Goal #5, $1,410,058	Not Applicable	Goal #5, $200,000	Achieved
Goal #6, $1,610,058	Not Applicable	Goal #6, $210,000	Achieved
Goal #7, $1,810,058	Not Applicable	Goal #7, $220,000	Achieved
Goal #8, $2,010,058	Not Applicable	Goal #8, $230,000	Achieved

(1) In connection with the business acquisition that was completed during the three months ended September 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, 2022 (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	1,115	$	133.40
Granted	324		121.16
Released	(170)		77.07
Forfeited	(103)		137.01
Units outstanding, end of period	1,166		137.85	$	108,680

Summary of Performance Stock Unit Activity

The following table summarizes PSU activity, inclusive of XSUs, for the six months ended June 30, 2022 (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	1,499	$	39.86
Granted	88		114.78
Released	(33)		118.08
Forfeited	(166)		28.78
Units outstanding, end of period	1,388		44.06	$	129,308

Summary of the Company's Stock Options Activity

The following table summarizes stock option activity for the six months ended June 30, 2022 (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	2,438	$	28.58
Granted	—		—
Exercised	—		—
Expired / terminated	—		—
Options outstanding, end of period	2,438		28.58	5.66	$	157,468
Options exercisable, end of period	1,377		28.58	5.66		88,939

Reported Share-Based Compensation

The following table summarizes the composition of stock-based compensation expense for the three months ended June 30, 2022 and 2021 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of products sold and services delivered	$	1,066	$	1,838	$	2,174	$	3,327
Sales, general and administrative expenses		8,610		114,089		21,592		185,104
Research and development expenses		11,486		21,622		22,484		38,728
Total stock-based compensation expense	$	21,162	$	137,549	$	46,250	$	227,159