Stock-Based Awards (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Unrecognized Stock-Based Compensation Expense and Average Remaining Vesting Period

A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows:

	March 31, 2021
	Unrecognized Stock- Based Compensation		Average Remaining Vesting Period (Years)
Employees and directors	$	16,488		1.70

Summary of Stock-Based Compensation Activity

A summary of stock-based compensation award activity during the three months ended March 31, 2021 is as follows:

	Stock Options			RSAs			RSUs			PRSUs
Balance at January 1, 2021		305,000			3,580,743			39,408			341,312
Granted		—			1,501,123			29,389			257,043	(1)
Exercised/vested		(75,000	)		(1,243,763	)		(15,136	)		—
Forfeitures		(115,000	)		(7,302	)		—			—
Balance at March 31, 2021		115,000			3,830,801			53,661			598,355

(1) Represents the target number of PRSUs granted and outstanding. The number of PRSUs that ultimately vest ranges from 0% to 200% of this amount. A Monte-Carlo simulation was used to value these awards using the following assumptions for the Company and the peer group: (i) beginning 90-day average stock prices; (ii) valuation date stock prices; (iii) historical stock price volatilities ranging from 34% to 57% (average 44%); (iv) correlation coefficients based upon the price data used to calculate the historical volatilities; (v) a risk free interest rate of 0.17%; and (vi) an expected dividend yield of 0%.