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STOCK PLANS (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Information About the Plans
The following tables contain information about the Company’s stock incentive plans at December 31, 2021:
Stock Incentive PlanAwards Reserved For IssuanceAwards
Issued
Awards Available For Grant
2011 Plan14,431,701 12,425,455 2,006,246 
2014 Inducement Plan175,000 36,076 138,924 
   Total14,606,701 12,461,531 2,145,170 
Employee Stock Purchase PlanShares Reserved
For Purchase
Shares
Purchased
Shares Available
For Purchase
2014 ESPP500,000 409,049 90,951 
Schedule of Recognized Stock-based Compensation in Consolidated Statements of Operations
The Company recognized stock-based compensation expense in its consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019 as follows (in thousands):
 Year Ended December 31,
 202120202019
Cost of goods sold$5,891 $5,589 $4,665 
Research and development5,465 5,211 5,114 
Selling, general and administrative30,890 29,120 23,871 
Total$42,246 $39,920 $33,650 
Stock-based compensation from:
   Stock options$25,980 $26,749 $23,360 
   RSUs15,335 12,266 9,511 
   ESPP931 905 779 
   Total$42,246 $39,920 $33,650 
Related income tax benefit$8,989 $8,578 $— 
Schedule of the Company's Stock Option Activity and Related Information
The following table summarizes the Company’s stock option activity and related information for the period from December 31, 2018 to December 31, 2021:
Number of
Options
Weighted
Average
Exercise Price (Per Share)
Weighted Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic Value
(in Thousands)
Outstanding at December 31, 20185,722,818 $41.69 7.07$49,166 
Granted1,872,758 42.75   
Exercised(425,495)19.90  $9,441 
Forfeited(286,779)39.22   
Expired(176,924)63.33   
Outstanding at December 31, 20196,706,378 42.80 7.05$50,652 
Granted1,502,803 47.50   
Exercised(1,428,111)31.67 $34,227 
Forfeited(426,925)42.08   
Expired(119,027)71.71   
Outstanding at December 31, 20206,235,118 45.98 6.97$102,955 
Granted890,277 60.27   
Exercised(732,117)32.56 $23,967 
Forfeited(278,233)46.46    
Expired(64,505)80.31    
Outstanding at December 31, 20216,050,540 $49.32 6.59$81,407 
Exercisable at December 31, 20213,826,646 $48.38 5.49$59,972 
Vested and expected to vest at December 31, 20216,050,540 $49.32 6.59$81,407 
Schedule of Weighted Average Assumptions Used to Estimate the Fair Values of Each Option Grant Using the Black-Scholes Option Pricing Model The fair values of stock options granted were estimated using the Black-Scholes model with the following weighted average assumptions:
 Year Ended December 31,
Black-Scholes Weighted Average Assumption202120202019
Expected dividend yieldNoneNoneNone
Risk-free interest rate
0.43% - 1.21%
0.22% - 1.60%
1.33% - 2.54%
Expected volatility49.1%53.5%53.9%
Expected term of options5.36 years5.36 years5.22 years
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
The following table summarizes the Company’s RSU activity and related information for the period from December 31, 2018 to December 31, 2021:
 Number
of Units
Weighted
Average Grant
Date Fair Value (Per Share)
Aggregate
Intrinsic Value
(in Thousands)
Unvested at December 31, 2018577,964 $42.14 $24,864 
Granted305,418 43.56  
Vested(192,760)45.55 
Forfeited(59,481)41.22  
Unvested at December 31, 2019631,141 41.87 $28,591 
Granted665,476 48.70 
Vested(239,085)41.91 
Forfeited(100,079)44.43 
Unvested at December 31, 2020957,453 46.34 $57,294 
Granted446,450 60.81 
Vested(309,779)45.16 
Forfeited(138,847)50.67 
Unvested and expected to vest at December 31, 2021955,277 $52.85 $57,479 
Schedule of Valuation Assumptions Used on ESPP Awards
The fair values of the ESPP share options granted were estimated using the Black-Scholes model with the following weighted average assumptions:
Year Ended December 31,
Black-Scholes Weighted Average Assumption202120202019
ESPP share option fair value
$15.16 - $15.23
$11.02 - $17.54
$11.13 - $11.36
Expected dividend yieldNoneNoneNone
Risk-free interest rate
0.50% - 0.90%
0.14% - 1.57%
2.10% - 2.56%
Expected volatility37.0%44.9%40.2%
Expected term of ESPP share options6 months6 months6 months