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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2022
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Stock Option Activity

Stock option activity was as follows:

 

(In thousands, except per share amounts)

 

Number of
Shares

 

 

Weighted Average Exercise Price Per Share

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

(In thousands)

 

 

(In dollars)

 

 

(In years)

 

 

(In thousands)

 

Outstanding as of December 31, 2021

 

 

912

 

 

$

30.19

 

 

 

 

 

 

 

Exercised

 

 

(37

)

 

$

20.16

 

 

 

 

 

 

 

Expired

 

 

(3

)

 

$

20.57

 

 

 

 

 

 

 

Outstanding as of December 31, 2022

 

 

872

 

 

$

30.64

 

 

 

5.37

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest

 

 

872

 

 

$

30.64

 

 

 

5.37

 

 

$

 

Exercisable Options

 

 

804

 

 

$

30.98

 

 

 

5.27

 

 

$

 

Schedule of Ranges of Outstanding And Exercisable Stock Options

The following table summarizes significant ranges of outstanding and exercisable stock options as of December 31, 2022:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of Exercise Prices

 

Shares
Outstanding

 

 

Weighted-
Average
Remaining
Contractual
Life

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

Shares
Exercisable

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

 

(In thousands)

 

 

(In years)

 

 

(In dollars)

 

 

(In thousands)

 

 

(In dollars)

 

$18.58 - $25.37

 

 

224

 

 

 

3.74

 

 

$

24.01

 

 

 

224

 

 

$

24.01

 

$26.61 - $26.61

 

 

370

 

 

 

6.55

 

 

$

26.61

 

 

 

302

 

 

$

26.61

 

$38.32 - $41.67

 

 

278

 

 

 

5.12

 

 

$

41.37

 

 

 

278

 

 

$

41.37

 

$18.58 - $41.67

 

 

872

 

 

 

5.37

 

 

$

30.64

 

 

 

804

 

 

$

30.98

 

Schedule of RSU Activity

RSU activity was as follows:

 

(In thousands, except per share amounts)

 

Number
of Shares

 

 

Weighted Average Grant Date Fair Value Per Share

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Average
Intrinsic
Value

 

Outstanding as of December 31, 2021

 

 

1,555

 

 

$

33.86

 

 

 

 

 

 

 

Granted

 

 

815

 

 

$

22.19

 

 

 

 

 

 

 

Vested

 

 

(624

)

 

$

34.55

 

 

 

 

 

 

 

Cancelled

 

 

(200

)

 

$

30.87

 

 

 

 

 

 

 

Outstanding as of December 31, 2022

 

 

1,546

 

 

$

27.82

 

 

 

1.39

 

 

$

27,998

 

Schedule of Performance Shares Activity

Performance shares were never granted in the years prior to 2020. Performance shares activity was as follows:

(In thousands, except per share amounts)

 

Number
of Shares

 

 

Weighted Average Grant Date Fair Value Per Share

 

 

 

(In thousands)

 

 

 

 

Outstanding as of December 31, 2019

 

 

 

 

 

 

Granted

 

 

141

 

 

$

28.22

 

Vested

 

 

 

 

 

 

Cancelled

 

 

 

 

 

 

Outstanding as of December 31, 2020

 

 

141

 

 

$

28.22

 

Granted

 

 

152

 

 

$

37.58

 

Vested

 

 

 

 

 

 

Cancelled

 

 

 

 

 

 

Outstanding as of December 31, 2021

 

 

293

 

 

$

33.07

 

Granted

 

 

145

 

 

 

22.37

 

Vested

 

 

 

 

 

 

Cancelled

 

 

(8

)

 

 

27.17

 

Outstanding as of December 31, 2022

 

 

430

 

 

$

29.38

 

Schedule of Weighted Average Assumptions The following table sets forth the weighted-average assumptions used to estimate the fair value of purchase rights granted under the ESPP:

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

 

 

Expected life (in years)

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Risk-free interest rate

 

 

2.25

%

 

 

0.05

%

 

 

0.72

%

Expected volatility

 

 

39.6

%

 

 

40.8

%

 

 

54.8

%

Dividend yield

 

 

 

 

 

 

 

 

 

Schedule of Total Stock-Based Compensation Expense Resulting from Stock Options, RSUs, Performance Shares and the ESPP

The following table sets forth the stock-based compensation expense resulting from stock options, RSUs, performance shares and the ESPP included in the Company’s consolidated statements of operations:

 

 

 

 

Year Ended December 31,

 

(In thousands)

 

 

2022

 

 

2021

 

 

2020

 

Cost of revenue

 

 

$

1,353

 

 

$

2,103

 

 

$

4,091

 

Research and development

 

 

 

4,177

 

 

 

5,161

 

 

 

5,183

 

Sales and marketing

 

 

 

5,603

 

 

 

7,628

 

 

 

7,634

 

General and administrative

 

 

 

6,601

 

 

 

11,103

 

 

 

13,597

 

Total

 

 

$

17,734

 

 

$

25,995

 

 

$

30,505