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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2019
Employee Benefits And Share Based Compensation [Abstract]  
Schedule of Stock Option Activity

Stock option activity during the year ended December 31, 2019 was as follows:

 

 

 

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, 2018

 

 

1,969

 

 

$

25.30

 

 

 

 

 

 

 

 

 

Granted

 

 

502

 

 

 

26.61

 

 

 

 

 

 

 

 

 

Exercised

 

 

(250

)

 

 

20.08

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(16

)

 

 

36.27

 

 

 

 

 

 

 

 

 

Expired

 

 

(17

)

 

 

36.81

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2019

 

 

2,188

 

 

$

26.03

 

 

 

6.10

 

 

$

4,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest

 

 

2,188

 

 

$

26.03

 

 

 

6.10

 

 

$

4,171

 

Exercisable Options

 

 

1,411

 

 

$

23.96

 

 

 

4.60

 

 

$

4,153

 

 

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, 2019:

 

 

 

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)

 

$12.34 - $19.32

 

 

452

 

 

 

3.86

 

 

$

18.82

 

 

 

452

 

 

$

18.82

 

$19.33 - $23.48

 

 

559

 

 

 

3.95

 

 

$

21.65

 

 

 

542

 

 

$

21.59

 

$23.77 - $25.37

 

 

293

 

 

 

6.85

 

 

$

25.36

 

 

 

188

 

 

$

25.36

 

$26.61 - $26.61

 

 

503

 

 

 

8.91

 

 

$

26.61

 

 

 

37

 

 

$

26.61

 

$29.23 - $41.67

 

 

381

 

 

 

7.63

 

 

$

40.76

 

 

 

192

 

 

$

40.80

 

$12.34 - $41.67

 

 

2,188

 

 

 

6.10

 

 

$

26.03

 

 

 

1,411

 

 

$

23.96

 

Schedule of RSU Activity

RSU activity during the year ended December 31, 2019 was as follows:

 

 

Number

of Shares

 

 

Weighted

Average

Grant Date

Fair Value

Per Share

 

 

Weighted

Average

Remaining

Contractual

Term

 

 

Average

Intrinsic

Value

 

 

(In thousands)

 

 

(In dollars)

 

 

(In years)

 

 

(In thousands)

 

Outstanding as of December 31, 2018

 

1,627

 

 

$

34.31

 

 

 

 

 

 

 

 

 

Granted

 

709

 

 

 

31.33

 

 

 

 

 

 

 

 

 

Vested

 

(594

)

 

 

31.35

 

 

 

 

 

 

 

 

 

Cancelled

 

(155

)

 

 

35.67

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2019

 

1,587

 

 

$

33.95

 

 

 

1.36

 

 

$

38,895

 

 

Schedule of Weighted Average Assumptions

The following table sets forth the weighted-average assumptions used to estimate the fair value of option grants and purchase rights granted under the ESPP during the years ended December 31, 2019, 2018 and 2017:

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

 

2019

 

 

2018

 

 

2017

 

 

 

Stock Options

 

 

ESPP

 

Expected life (in years)

 

 

6.2

 

 

 

4.4

 

 

 

4.4

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Risk-free interest rate

 

 

1.85

%

 

 

2.36

%

 

 

1.66

%

 

 

2.06

%

 

 

2.00

%

 

 

0.93

%

Expected volatility

 

 

33.9

%

 

 

31.1

%

 

 

31.6

%

 

 

43.90

%

 

 

37.9

%

 

 

29.7

%

Dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

 

 

(In thousands)

 

Cost of revenue

 

$

2,843

 

 

$

2,435

 

 

$

1,406

 

Research and development

 

 

6,532

 

 

 

4,283

 

 

 

2,968

 

Sales and marketing

 

 

9,069

 

 

 

8,267

 

 

 

5,481

 

General and administrative

 

 

10,693

 

 

 

11,476

 

 

 

9,114

 

Total

 

$

29,137

 

 

$

26,461

 

 

$

18,969