XML 45 R31.htm IDEA: XBRL DOCUMENT v3.22.0.1
Stock Benefit Plans and Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

A summary of the Company’s stock option activity under the Plans and related information is as follows (in thousands, except as indicated and per share data):

 

 

 

Shares

 

 

Weighted

average

exercise

price

 

 

Weighted

average

remaining

contractual

term

(in years)

 

 

Aggregate

intrinsic

value

 

Outstanding at December 31, 2020

 

 

3,951

 

 

$

3.21

 

 

 

 

 

 

 

 

 

Granted

 

 

85

 

 

 

13.62

 

 

 

 

 

 

 

 

 

Exercised

 

 

(569

)

 

 

2.63

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(116

)

 

 

5.28

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

3,351

 

 

$

3.50

 

 

 

6.03

 

 

$

27,619

 

Options vested and exercisable at

   December 31, 2021

 

 

2,973

 

 

$

3.24

 

 

 

5.86

 

 

$

25,162

 

Options vested and expected to vest at

   December 31, 2021

 

 

3,351

 

 

$

3.50

 

 

 

6.03

 

 

$

27,619

 

Summary of Information about Restricted Stock Awards, Restricted Stock Units and Performance-Based Restricted Units Activity

The following table summarizes information about the restricted stock awards, restricted stock units and performance-based restricted units activity (in thousands, except as indicated and per share data):

 

 

 

Shares

 

 

Weighted

average

grant

date fair

value

 

 

Weighted

average

remaining

recognition

period

(in years)

 

Unvested at December 31, 2020

 

 

8,216

 

 

$

3.13

 

 

 

 

 

Awarded

 

 

3,980

 

 

 

12.79

 

 

 

 

 

Vested

 

 

(2,824

)

 

 

3.88

 

 

 

 

 

Forfeited

 

 

(669

)

 

 

4.01

 

 

 

 

 

Unvested at December 31, 2021

 

 

8,703

 

 

$

6.34

 

 

 

1.66

 

Schedule of Assumptions used to Estimate Fair Value of Stock Options Granted and Stock Purchase Rights under ESPP

The Company estimates the fair value of shares issued to employees under the ESPP using the Black-Scholes option-pricing model.  The assumptions used to estimate the fair value of stock options granted and stock purchase rights under the ESPP are as follows:

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

Risk-free interest rate

 

0.04% - 0.12%

 

 

0.12% - 1.58%

 

Expected dividend yield

 

 

 

 

 

 

Expected term (years)

 

 

0.50

 

 

 

0.50

 

Volatility

 

49.98% - 78.37%

 

 

54.96% - 102.5%

 

 

 

Summary of Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consists of the following (in thousands):

 

 

 

December 31, 2021

 

Stock options outstanding

 

 

3,351

 

Unvested restricted stock units

 

 

8,703

 

Employee stock purchase plan

 

 

547

 

Series A convertible preferred stock

 

 

29

 

Senior convertible notes

 

 

17,246

 

Warrants outstanding

 

 

20,184

 

Authorized for future grant under the Distributor and

   Development Services plans

 

 

445

 

Authorized for future grant under the Management

   Objective Strategic Incentive Plan

 

 

365

 

Authorized for future grant under the Company

   Equity plans

 

 

4,025

 

 

 

 

54,895