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Share-based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity (in thousands, except per share data and years) for the three months ended June 30, 2021:

 

 

 

Stock Options Outstanding

 

 

 

 

 

 

 

Weighted Average

 

 

Aggregate

 

 

Weighted Average

 

 

 

 

 

 

 

Exercise Price

 

 

Intrinsic

 

 

Remaining Contractual

 

 

 

Shares

 

 

Per Share

 

 

Value

 

 

Term (Years)

 

Balance as of April 1, 2021

 

 

1,273

 

 

$

259.39

 

 

 

 

 

 

 

 

 

Granted

 

 

20

 

 

$

470.00

 

 

 

 

 

 

 

 

 

Exercised

 

 

(2

)

 

$

129.90

 

 

$

643

 

 

 

 

 

Forfeited/Expired

 

 

(11

)

 

$

504.66

 

 

 

 

 

 

 

 

 

Balance as of June 30, 2021

 

 

1,280

 

 

$

260.71

 

 

 

 

 

 

 

 

 

Exercisable as of June 30, 2021

 

 

587

 

 

$

132.35

 

 

$

312,395

 

 

 

3.8

 

Expected to vest as of June 30, 2021

 

 

693

 

 

$

369.48

 

 

$

211,992

 

 

 

8.9

 

Total

 

 

1,280

 

 

$

260.71

 

 

$

524,387

 

 

 

6.5

 

Schedule of Range of Exercise Prices per Share

Stock options outstanding as of June 30, 2021 are comprised of the following range of exercise prices per share (in thousands, except per share data and years):

 

 

 

Stock Options Outstanding at June 30, 2021

 

 

 

 

 

 

 

Weighted Average

 

 

Weighted Average

 

 

 

 

 

 

 

Exercise Price

 

 

Remaining Contractual

 

Range of Exercise Prices per Share

 

Shares

 

 

Per Share

 

 

Term (Years)

 

$121.43 - $200.00

 

 

988

 

 

$

137.78

 

 

 

5.6

 

$400.01 - $500.00

 

 

20

 

 

$

470.00

 

 

 

9.9

 

$600.01 - $700.00

 

 

269

 

 

$

691.23

 

 

 

9.7

 

$700.01 - $756.55

 

 

3

 

 

$

756.55

 

 

 

9.7

 

Total

 

 

1,280

 

 

$

260.71

 

 

 

6.5

 

Assumptions Used in Black-Scholes Pricing Model The weighted average grant date fair value of stock option awards using the Black-Scholes pricing model was $252.81 and $42.50 for each share subject to a stock option granted during the three months ended June 30, 2021 and 2020, respectively, based on the following assumptions:

 

 

Three months ended

 

 

 

June 30,

 

 

 

2021

 

2020

 

Expected term of options in years

 

6.3

 

 

6.3

 

Expected volatility

 

 

56.8

%

 

 

34.4

%

Risk-free interest rate

 

 

1.1

%

 

 

0.4

%

Expected dividend yield

 

 

0.0

%

 

 

0.0

%

 

Summary of Restricted Stock Unit Activity

As of June 30, 2021, there were 86,150 restricted stock units outstanding under the 2013 Equity Plan, which the Company intends to settle in shares.  The following table summarizes the Company’s restricted stock unit activity (in thousands) for the periods indicated:

 

 

Restricted Stock Units Outstanding

 

 

 

 

 

 

 

Aggregate

 

 

 

 

 

 

 

Intrinsic

 

 

 

Units

 

 

Value

 

Balance as of April 1, 2021

 

 

90

 

 

 

 

 

Granted

 

 

1

 

 

 

 

 

Vested

 

 

0

 

 

$

0

 

Forfeited

 

 

(5

)

 

 

 

 

Balance as of June 30, 2021

 

 

86

 

 

 

 

 

Expected to vest as of June 30, 2021

 

 

86

 

 

$

57,247