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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Summary of option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

Outstanding Options

 

Remaining

 

Aggregate

 

 

Number of

 

Weighted-Average

 

Contractual

 

Intrinsic

 

 

Shares

 

Exercise Price

 

Life

 

Value

 

 

(In thousands)

 

(In years)

 

 

 

(In thousands)

Balance at December 31, 2014

 

3,777

 

$

22.10

 

 

 

 

 

Options granted

 

450

 

$

30.38

 

 

 

 

 

Options exercised

 

(489)

 

$

15.34

 

 

 

 

 

Options forfeited

 

(47)

 

$

29.96

 

 

 

 

 

Options expired

 

(61)

 

$

29.73

 

 

 

 

 

Balance at December 31, 2015

 

3,630

 

$

23.80

 

5.1

 

$

41,402

Exercisable at December 31, 2015

 

2,872

 

$

22.06

 

4.1

 

$

37,776

Vested and expected to vest at December 31, 2015

 

3,572

 

$

23.69

 

5.0

 

$

41,144

 

Summary of RSU activity

 

 

 

 

 

 

 

    

 

    

Weighted-Average

 

 

Number of

 

Grant Date Fair

 

 

Shares

 

Value

 

 

(In thousands)

 

 

 

Balance at December 31, 2014

 

630

 

$

29.65

RSUs granted

 

443

 

$

30.65

RSUs vested

 

(308)

 

$

29.78

RSUs cancelled

 

(83)

 

$

30.17

Balance at December 31, 2015

 

682

 

$

30.18

 

Schedule of the impact of employee stock-based compensation expense on selected statement of operations line items

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2015

 

2014

 

2013

 

 

(In thousands)

Cost of product revenues

    

$

525

    

$

497

    

$

483

Research and development

 

 

4,228

 

 

4,143

 

 

4,486

Selling and marketing

 

 

4,526

 

 

4,822

 

 

4,756

General and administrative

 

 

6,726

 

 

7,076

 

 

7,732

Total

 

$

16,005

 

$

16,538

 

$

17,457

 

Schedule of weighted-average fair values and assumptions used in calculation of fair value of stock options and employee stock purchase plan

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Expected volatility:

    

 

    

    

 

    

    

 

    

 

Stock options

 

 

44

%  

 

44

%  

 

46

%  

ESPP

 

 

35

%  

 

37

%  

 

39

%  

Risk-free interest rate:

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

1.66

%  

 

1.97

%  

 

1.40

%  

ESPP

 

 

0.10

%  

 

0.08

%  

 

0.11

%  

Expected life in years:

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

5.94

 

 

6.61

 

 

6.64

 

ESPP

 

 

0.50

 

 

0.50

 

 

0.50

 

Weighted-average fair value:

 

 

 

 

 

 

 

 

 

 

Stock options

 

$

13.37

 

$

14.13

 

$

14.11

 

ESPP

 

$

6.99

 

$

7.24

 

$

7.82

 

 

Performance-Based Vesting  
Summary of RSU activity

 

 

 

 

 

 

 

    

 

    

Weighted-Average

 

 

Number of

 

Grant Date Fair

 

 

Shares

 

Value

 

 

(In thousands)

 

 

 

Balance at December 31, 2014

 

14

 

$

27.21

PVRSUs granted

 

23

 

$

31.12

PVRSUs vested

 

(7)

 

$

27.21

PVRSUs cancelled

 

(24)

 

$

31.02

Balance at December 31, 2015

 

6

 

$

27.21