Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Common Stock

We are authorized to issue 600.0 million shares of common stock as of June 30, 2020. Holders of our common stock are not entitled to receive dividends unless declared by our board of directors. As of June 30, 2020, we had 191.8 million shares of common stock outstanding and had reserved shares of common stock for future issuance as follows (in thousands):


			June 30, 2020
Stock plans:
Options outstanding			651
RSUs⁽¹⁾			9,200
Shares of common stock available for future grants:
2012 Equity Incentive Plan⁽²⁾			27,604
2012 Employee Stock Purchase Plan⁽²⁾			9,927
Total shares of common stock reserved for future issuance			47,382

(1)Represents the number of shares issuable upon settlement of outstanding restricted stock units (“RSUs”) and performance-based RSUs, assuming 100% of the target number of shares for performance-based RSUs, as discussed under the section entitled “RSUs” in Note 13.

(2)Refer to Note 13 for a description of these plans.

During the six months ended June 30, 2020 and 2019, we issued a total of 2.3 million shares and 3.0 million shares, respectively, from stock option exercises, vesting of RSUs, net of employee payroll taxes, and purchases from the employee stock purchase plan (“ESPP”). In addition, as described in Note 10, we issued 4.3 million shares of our common stock upon the automatic exercise of a portion of the 2018 Warrants during the six months ended June 30, 2019.