STOCK PLANS

Stock-Based Compensation

The Company recognized stock-based compensation expense in its consolidated statements of operations as follows (in thousands):



	Three Months Ended
	March 31,
	2016		2015
Cost of goods sold	$	1,549	$	1,103
Research and development	893		1,510
Selling, general and administrative	6,048		4,904
Total	$	8,490	$	7,517

Stock-based compensation from:
Stock options (employee awards)	$	6,856	$	6,309
Stock options (consultant awards)	274		997
Restricted stock units (employee awards)	1,085		—
Employee stock purchase plan	275		211
Total	$	8,490	$	7,517

Employee Stock Purchase Plan

The Company’s 2014 Employee Stock Purchase Plan, or ESPP, features two six-month offering periods per year, running from January 1to June 30 and July 1 to December 31. Under the ESPP, employees may elect to contribute after-tax earnings to purchase shares at 85% of the fair market value of the Company’s common stock on either the offering date or the purchase date, whichever is less. During the three months ended March 31, 2016, no shares were purchased under the ESPP.

The following tables contain information about the Company’s stock option and restricted stock unit, or RSU, activity for the three months ended March 31, 2016:



Stock Options	Number of Options		Weighted Average Exercise Price
Outstanding at December 31, 2015	4,645,722		$	44.03
Granted	41,250		61.70
Exercised	(254,170	)	11.97
Forfeited	(216,515	)	71.22
Expired	(28,755	)	79.53
Outstanding at March 31, 2016	4,187,532		44.51



Restricted Stock Units	Number of Units		Weighted Average Grant Date Fair Value
Unvested at December 31, 2015	216,198		$	78.59
Granted	1,150		63.84
Vested	(938	)	79.43
Forfeited	(17,838	)	79.43
Unvested at March 31, 2016	198,572		78.34