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Stock-Based Compensation and Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

The Company recognizes stock-based compensation in the consolidated statements of operations, based on the department to which the related employee reports, as follows:


	Three Months Ended March 31,
	2020		2019
	(in thousands)
Cost of net revenue	$	148	$	130
Research and development	3,746		4,213
Selling, general and administrative	2,933		3,404

	$	6,827	$	7,747

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of the Company’s restricted stock unit activity is as follows:


	Number of Shares (in thousands)	Weighted-Average Grant-Date Fair Value per Share
Outstanding at December 31, 2019	2,924	$	21.72
Granted	2,069	11.77

Vested	(418)	16.72
Canceled	(45)	21.29
Outstanding at March 31, 2020	4,530	$	17.64

Share-based Payment Arrangement, Performance Shares, Outstanding Activity [Table Text Block]

A summary of the Company’s performance-based restricted stock unit activity is as follows:


	Number of Shares (in thousands)	Weighted-Average Grant-Date Fair Value per Share
Outstanding at December 31, 2019	445	$	22.21
Granted⁽¹⁾	1,416	11.67

Vested	(21)	22.21
Canceled	(32)	22.21
Outstanding at March 31, 2020	1,808	$	13.95

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⁽¹⁾ Number of shares granted is based on the maximum percentage achievable in the performance-based restricted stock unit award.

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair values of employee stock purchase rights were estimated using the Black-Scholes option pricing model at their respective grant date using the following assumptions:


	Three Months Ended March 31,
	2020			2019
Weighted-average grant date fair value per share	$	5.48		$	5.01
Risk-free interest rate	1.59		%	2.51		%
Dividend yield	—		%	—		%
Expected life (in years)	0.50			0.50
Volatility	43.14		%	38.82		%

Share-based Compensation, Stock Options, Activity


	Number of Options (in thousands)	Weighted-Average Exercise Price		Weighted-Average Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2019	1,337	$	13.05


Exercised	(52)	9.50
Canceled	(22)	14.23
Outstanding at March 31, 2020	1,263	$	13.18	2.44	$	2,207
Vested and expected to vest at March 31, 2020	1,258	$	13.15	2.42	$	2,207
Exercisable at March 31, 2020	1,053	$	12.12	1.88	$	2,207