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Employee Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

The following table summarizes option activity under all plans for the three months ended March 31, 2020:


	Number of Shares	Weighted Average Exercise Price per Share
Options Outstanding January 1, 2020	10,132,562	$	12.28
Granted	1,136,303	7.72
Forfeited	(83,896)	16.86
Exercised	(266,725)	4.94
Expired	(67,193)	20.04
Options Outstanding March 31, 2020	10,851,051	$	11.90

Inputs to Calculate Estimated Fair Value of Options Awarded

The table below summarizes the resulting weighted average inputs used to calculate the estimated fair value of options awarded for the three months ended March 31, 2020 and 2019:


	Three Months Ended March 31,
	2020			2019
Expected term (in years)	5.98			6.17
Volatility	56		%	62		%
Expected dividends	—			—
Risk free interest rates	0.74		%	2.59		%
Weighted average fair value	$	3.98		$	6.90

Stock Option Supplemental Information

The following table shows summary information for outstanding options and options that are exercisable (vested) as of March 31, 2020:


	Options Outstanding		Options Exercisable
Number of options	10,851,051		656,318
Weighted average remaining contractual term (in years)	5.99		4.10
Weighted average exercise price	$	11.90	$	9.78
Weighted average fair value	$	7.53	$	6.38
Aggregate intrinsic value (in thousands)	$	22,821	$	21,281

Restricted Stock Unit (RSU) Activity

The following table summarizes RSU and restricted stock award activity for the three months ended March 31, 2020:


	Number of Shares	Weighted Average Grant Date Fair Value per Share
Outstanding January 1, 2020	14,332	$	16.66
Granted	147,766	9.66
Forfeited	(4,666)	14.67
Vested/released	(3,234)	14.51
Outstanding March 31, 2020	154,198	$	10.05

Equity-Based Compensation Expenses

The table below summarizes equity-based compensation expense for the three months ended March 31, 2020 and 2019:


	Three Months Ended March 31,
	2020		2019
Cost of sales	$	71	$	55
Research and development	1,123		1,527
Sales, general and administrative	3,005		1,815
	$	4,199	$	3,397