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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 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 three months ended March 31, 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	78		69.19
Released	(219)		35.49
Forfeited	(34)		50.82
Units outstanding, end of period	1,074		49.05	$	75,985

Summary of Performance Stock Unit Activity

The following table summarizes Performance Stock Units (“PSUs“) activity for the three months ended March 31, 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	102		42.41
Released	(158)		24.88
Forfeited	(188)		34.97
Units outstanding, end of period	5,789		34.86	$	409,657

Summary of the Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 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	(6)		4.74
Expired / terminated	—		—
Options outstanding, end of period	6,425		28.36	7.84	$	272,512
Options exercisable, end of period	59		4.50	0.67		3,936

Stock-Based Compensation

The following table summarizes the composition of stock-based compensation expense for the three months ended March 31, 2020 and 2019 (in thousands):


	Three Months Ended March 31,
	2020		2019
Cost of products sold and services delivered	$	590	$	226
Sales, general and administrative expenses		14,970		4,681
Research and development expenses		4,635		2,998
Total stock-based compensation expense	$	20,195	$	7,905