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Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2021


		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, 2021 (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	1,107	$	76.10
Granted	57		152.58
Released	(184)		47.57
Forfeited	(25)		91.87
Units outstanding, end of period	955		85.76	$	136,019

Summary of Performance Stock Unit Activity

The following table summarizes PSU activity, inclusive of XSUs, for the three months ended March 31, 2021 (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	5,618	$	35.71
Granted	190		43.83
Released	(765)		37.61
Forfeited	(41)		34.70
Units outstanding, end of period	5,002		35.74	$	712,357

Summary of the Company's Stock Options Activity

The following table summarizes stock option activity for the three months ended March 31, 2021 (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	6,366	$	28.58
Granted	—		—
Exercised	—		—
Expired / terminated	—		—
Options outstanding, end of period	6,366		28.58	6.91	$	724,689
Options exercisable, end of period	1,591		28.58	6.91		181,172

Reported Share-Based Compensation

The following table summarizes the composition of stock-based compensation expense for the three months ended March 31, 2021 and 2020 (in thousands):


	Three Months Ended March 31,
	2021		2020
Cost of products sold and services delivered	$	1,489	$	590
Sales, general and administrative expenses		71,015		14,970
Research and development expenses		17,106		4,635
Total stock-based compensation expense	$	89,610	$	20,195