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STOCK-BASED AWARDS (Tables)

9 Months Ended

Sep. 30, 2020

Stock option activity is summarized as follows (in thousands, except per share and term information):


	Number of Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value1
Outstanding, December 31, 2019	2,851	$	30.97	3.1	$	78,580

Exercised	(774)	12.09
Forfeited	(174)	42.43
Outstanding, September 30, 2020	1,903	$	37.62	2.9	$	9,347

Exercisable at September 30, 2020	1,903	$	37.62	2.9	$	9,347
Vested and expected to vest at September 30, 2020	1,903	$	37.62	2.9	$	9,347


1 Based on the Company’s closing stock price of $36.36 on September 30, 2020 and $58.55 on December 31, 2019.

Restricted stock unit (“RSU”) activity is summarized as follows (shares in thousands):


	Number of Shares	Weighted- Average Grant Date Fair Value
Unvested shares at December 31, 2019	3,756	$	47.76
Granted	2,019	34.39
Forfeited	(296)	46.69
Vested	(1,502)	43.44
Unvested shares at September 30, 2020	3,977	$	42.68

Performance-based restricted stock unit (“PRSU”) activity is summarized as follows (shares in thousands):


	Number of Shares	Weighted- Average Grant Date Fair Value
Unvested shares at December 31, 20191	1,752	$	44.21
Granted	720	36.06
Forfeited	(261)	40.69

Unvested shares at September 30, 20201	2,211	$	41.97

1 Assumes maximum achievement of the specified financial targets.

Stock-based compensation expense is reflected in the accompanying condensed consolidated statements of operations as follows (in thousands):