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Equity Incentive Plans (Tables)
 6 Months Ended
Jun. 30, 2022
Summary of Stock Option Activity

A summary of stock option activities under the 2011 Plan for the six months ended June 30, 2022 is as follows (intrinsic value in thousands):

 

 

Number of
Awards

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Fair Value

 

 

Weighted
Average
Remaining
Contractual
Life (in years)

 

 

Intrinsic
Value

 

Outstanding, December 31, 2021

 

 

2,574,354

 

 

$

1.43

 

 

$

1.02

 

 

 

7.07

 

 

$

231,286

 

Exercised

 

 

(551,195

)

 

$

0.91

 

 

$

0.70

 

 

 

 

 

$

42,063

 

Cancelled

 

 

(16,513

)

 

$

2.14

 

 

$

1.30

 

 

 

 

 

$

1,270

 

Outstanding, June 30, 2022

 

 

2,006,646

 

 

$

1.56

 

 

$

1.10

 

 

 

6.62

 

 

$

133,292

 

Vested and exercisable at June 30, 2022

 

 

1,452,085

 

 

$

1.21

 

 

$

0.88

 

 

 

6.47

 

 

$

96,966

 

Vested and expected to vest at June 30, 2022

 

 

1,986,007

 

 

$

1.55

 

 

$

1.09

 

 

 

6.62

 

 

$

131,956

 
Summary of RSU Activity

RSU activities under the 2020 Plan is set forth below:

 

 

 

Number of
Awards

 

 

Weighted
Average
Fair Value

 

Outstanding, December 31, 2021

 

 

611,205

 

 

$

88.34

 

Granted

 

 

506,331

 

 

 

74.77

 

Vested

 

 

(123,745

)

 

 

84.15

 

Cancelled

 

 

(26,334

)

 

 

83.21

 

Outstanding, June 30, 2022

 

 

967,457

 

 

$

81.91

 
Schedule of Total Compensation Cost for All Share-Based Payment Arrangements Recognized

Total compensation cost for all share-based payment arrangements recognized, including $956,000 and $724,000 for the three months ended June 30, 2022 and 2021 and $1.8 million and $1.3 million for the six months ended June 30, 2022 and 2021, respectively, related to the Employee Stock Purchase Plan, was as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of goods sold

 

$

375

 

 

$

202

 

 

$

740

 

 

$

379

 

Research and development

 

 

1,113

 

 

 

619

 

 

 

2,092

 

 

 

1,021

 

Selling, general and administrative

 

 

5,676

 

 

 

3,783

 

 

 

10,887

 

 

 

7,040

 

 

 

$

7,164

 

 

$

4,604

 

 

$

13,719

 

 

$

8,440

 
2020 Employee Share Purchase Plan  
Schedule of Estimated Fair Value of Option Grant and ESPP

The fair value of the ESPP shares is estimated using the Black-Scholes option pricing model with the following assumptions:

 

 

 

Six Months Ended June 30,

 

 

2022

 

2021

Expected term (in years)

 

0.5

 

0.5

Expected volatility

 

56.09%

 

51.91%

Dividend yield

 

0.00%

 

0.00%

Risk free interest rate

 

0.48%

 

0.08%