XML 46 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
STOCK PLANS AND SHARE BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock-based Compensation Expense

The following table summarizes the stock-based compensation expense recognized in accordance with ASC 718-10 for the years ended December 31, 2021, 2020 and 2019:

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 

(In thousands)

    

2021

    

2020

    

2019

Cost of revenues

​

$

2,359

​

$

1,963

​

$

1,237

Research and development

​

 

12,127

​

 

10,378

​

 

8,423

Sales and marketing

​

 

7,630

​

 

6,290

​

 

5,015

General and administrative

​

 

15,493

​

 

12,281

​

 

8,672

Total stock-based compensation expense

​

$

37,609

​

$

30,912

​

$

23,347

Share-based Payment Arrangement, Nonvested Award, Cost

The following table summarizes total compensation expense related to unvested awards not yet recognized, net of expected forfeitures, and the weighted average period over which it is expected to be recognized as of December 31, 2021:

​

​

​

​

​

​

​

    

Unrecognized Compensation

    

Weighted Average

​

​

Expense for Unvested

​

Remaining Recognition

​

​

Awards

​

Period

​

​

(In thousands)

​

(In years)

Long-term performance-based awards

​

$

7,474

 

1.19

Restricted stock units

​

 

35,707

 

2.26

Purchase plan

​

 

174

 

0.08

Total unrecognized compensation expense

​

$

43,355

 

  

Fair value assumptions for employees' stock purchase rights under the Purchase Plan

The fair value of employees’ stock purchase rights under the Purchase Plan was estimated using the Black-Scholes model with the following weighted-average assumptions used during the three years ended December 31, 2021, 2020 and 2019:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 

 

​

    

2021

​

2020

​

2019

Risk-free interest rates

 

​

0.07

%  

​

​

0.90

%  

​

​

2.28

%  

Expected volatility rates

 

​

41

%  

​

​

47

%  

​

​

37

%  

Expected dividend yield

 

​

0.57

%  

​

​

0.78

%  

​

​

0.91

%  

Expected term of purchase rights (in years)

 

​

0.50

 

​

​

0.50

 

​

​

0.50

 

Weighted-average estimated fair value of purchase rights

​

$

23.92

​

​

$

15.73

​

​

$

19.39

​

Summary of Option Activity Under the Plans

A summary of stock options outstanding as of December 31, 2021, and activity during three years then ended, is presented below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-

​

​

​

​

​

​

​

Weighted-

​

Average

​

​

​

​

​

​

​

Average

​

Remaining

​

Aggregate

​

​

Shares

​

Exercise

​

Contractual Term

​

Intrinsic Value

​

    

(In thousands)

    

Price

    

(In years)

    

(In thousands)

Outstanding at January 1, 2019

 

670

​

$

16.21

 

  

 

​

  

Granted

 

—

​

 

—

 

  

 

​

  

Exercised

 

(335)

​

$

12.98

 

  

 

​

  

Forfeited or expired

 

—

​

 

—

 

  

 

​

  

Outstanding at December 31, 2019

 

335

​

$

19.44

 

  

 

​

  

Granted

 

—

​

 

—

 

  

 

​

  

Exercised

 

(243)

​

$

18.99

 

  

 

​

  

Forfeited or expired

 

—

​

 

—

 

  

 

​

  

Outstanding at December 31, 2020

 

92

​

$

20.63

 

  

 

​

  

Granted

 

—

​

​

—

 

  

 

​

  

Exercised

 

(80)

​

$

20.50

 

  

 

​

  

Forfeited or expired

 

—

​

​

—

 

  

 

​

  

Outstanding at December 31, 2021

 

12

​

$

21.44

 

0.35

​

$

857

Vested and Exercisable at December 31, 2021

 

12

​

 

​

​

0.35

​

$

857

Summary of stock options outstanding by exercise price range

The following table summarizes the stock options outstanding at December 31, 2021:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options Outstanding

​

Options Exercisable

​

    

​

    

Weighted Average

    

Weighted

    

​

    

Weighted

​

​

​

​

Remaining

​

Average

​

​

​

Average

(Shares in thousands)

​

Options

​

Contractual Term

​

Exercise

​

Options

​

Exercise

Range of Exercise Prices

​

Outstanding

​

(In years)

​

Price

​

Exercisable

​

Price

$21.44 - $21.44

 

12

 

0.35

​

$

21.44

 

12

​

$

21.44

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of RSU awards outstanding as of December 31, 2021, and activity during the three years then ended, is presented below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-Average

​

Aggregate

​

​

​

​

Weighted-Average

​

Remaining

​

Intrinsic

​

​

Shares

​

Grant Date Fair

​

Contractual Term

​

Value

​

    

(In thousands)

    

Value Per Share

    

(In years)

    

(In thousands)

Outstanding at January 1, 2019

 

1,790

​

$

29.10

 

  

 

​

  

Granted

 

582

​

$

34.90

 

  

 

​

  

Vested

 

(603)

​

$

28.10

 

  

 

​

  

Forfeited

 

(50)

​

$

31.72

 

  

 

​

  

Outstanding at December 31, 2019

 

1,719

​

$

31.33

 

  

 

​

  

Granted

 

439

​

$

44.82

 

  

 

​

  

Vested

 

(599)

​

$

30.25

 

  

 

​

  

Forfeited

 

(41)

​

$

36.77

 

  

 

​

  

Outstanding at December 31, 2020

 

1,518

​

$

35.51

 

  

 

​

  

Granted

 

271

​

$

83.79

 

  

 

​

  

Vested

 

(546)

​

$

35.03

 

  

 

​

  

Forfeited

 

(99)

​

$

39.85

 

  

 

​

  

Outstanding at December 31, 2021

 

1,144

​

$

46.81

 

1.25

​

$

106,306

Outstanding and expected to vest at December 31, 2021

 

1,081

​

 

​

​

1.20

​

$

100,433

Performance Based Awards [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of performance-based awards outstanding

A summary of PSU awards outstanding as of December 31, 2021, and activity during the three years then ended, is presented below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-

​

​

​

​

​

​

​

Weighted-

​

Average

​

​

​

​

​

​

​

Average

​

Remaining

​

Aggregate

​

​

Shares

​

Grant Date Fair

​

Contractual Term

​

Intrinsic Value

​

    

(In thousands)

    

Value Per Share

    

(In years)

    

(In thousands)

Outstanding at January 1, 2019

 

52

​

$

31.44

 

  

 

​

  

Granted

 

185

​

$

35.06

 

  

 

​

  

Vested

 

(52)

​

$

31.44

 

  

 

​

  

Forfeited or canceled

 

(64)

​

$

35.06

 

  

 

​

  

Outstanding at December 31, 2019

 

121

​

$

35.06

 

  

 

​

  

Granted

 

150

​

$

46.31

 

  

 

​

  

Vested

 

(121)

​

$

35.06

 

  

 

​

  

Forfeited or canceled

 

—

​

​

—

 

  

 

​

  

Outstanding at December 31, 2020

 

150

​

$

46.27

 

  

 

​

  

Granted

 

105

​

$

84.48

 

  

 

​

  

Vested

 

(150)

​

$

46.27

 

  

 

​

  

Forfeited or canceled

 

(1)

​

$

85.01

 

  

 

​

  

Outstanding at December 31, 2021

 

104

​

$

84.47

 

—

​

$

9,701

Outstanding and expected to vest at December 31, 2021

 

104

​

 

​

​

—

​

$

9,701

Long-Term Performance-Based Awards (PRSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of performance-based awards outstanding

A summary of PRSU awards outstanding as of December 31, 2021, and activity during the three years then ended, is presented below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted-Average

​

Aggregate

​

​

​

​

Weighted-Average

​

Remaining

​

Intrinsic

​

​

Shares

​

Grant Date Fair

​

Contractual Term

​

Value

​

    

(In thousands)

    

Value Per Share

    

(In years)

    

(In thousands)

Outstanding at January 1, 2019

 

426

​

$

27.74

 

  

 

​

  

Granted

 

144

​

$

34.09

 

  

 

​

  

Vested

 

(140)

​

$

21.63

 

  

 

​

  

Forfeited or canceled

 

(143)

​

$

31.50

 

  

 

​

  

Outstanding at December 31, 2019

 

287

​

$

32.03

 

​

 

​

  

Granted

 

152

​

$

49.67

 

  

 

​

  

Vested

 

—

​

​

—

 

  

 

​

  

Forfeited or canceled

 

(138)

​

$

29.95

 

  

 

​

  

Outstanding at December 31, 2020

 

301

​

$

41.90

 

  

 

​

  

Granted

 

103

​

$

82.92

 

  

 

​

  

Vested

 

(6)

​

$

29.94

 

  

 

​

  

Forfeited or canceled

 

(15)

​

$

40.05

 

  

 

​

  

Outstanding at December 31, 2021

 

383

​

$

53.14

 

0.92

​

$

35,537

Outstanding and expected to vest at December 31, 2021

 

383

​

 

​

​

0.92

​

$

35,537