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Stock compensation (Tables) | 9 Months Ended
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Sep. 30, 2020
Stock compensation |
Schedule of valuation assumptions used for valuation of fair value of stock compensation granted | We utilized the Black-Scholes valuation model for estimating the fair value of the stock compensation granted, with the following weighted-average assumptions:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee Stock Options | ​ | Employee Stock Purchase Plan
​ | ​ | For the Three Months Ended | For the Nine Months Ended | ​ | For the Three Months Ended | For the Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | ​ | 2020 |  | 2019 |  | 2020 |  | 2019 |
Average risk-free interest rates | ​ | 0.28 | % | 1.74 | % | 0.85 | % | 2.29 | % |  | 0.13 | % | 1.63 | % | 0.17 | % | 1.94 | %
Average expected life (in years) | ​ | 5.15 | ​ | 5.09 | ​ | 4.96 | ​ | 5.28 | ​ |  | 0.50 | ​ | 0.50 | ​ | 0.50 | ​ | 0.50 | ​
Volatility | ​ | 39 | % | 45 | % | 40 | % | 45 | % |  | 38 | % | 34 | % | 46 | % | 34 | %
Weighted-average fair value (in dollars) | ​ | 36.73 | ​ | 34.83 | ​ | 32.79 | ​ | 32.38 | ​ |  | 22.83 | ​ | 15.04 | ​ | 19.07 | ​ | 14.53 | ​
Schedule of option activity under the 2010 Stock Plan | Option activity under our 2010 Amended and Restated Stock Incentive Plan (the “2010 Stock Plan”) was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shares Subject to | ​
​ | ​ | Outstanding Options | ​
​ | ​ | ​ | ​ | Weighted Average | ​
​ |  | Shares |  | Exercise Price |
Balance at December 31, 2019 |  | 12,632,657 | ​ | $ | 81.42 | ​
Options granted |  | 2,068,098 | ​ | $ | 93.24 | ​
Options exercised |  | (1,975,908) | ​ | $ | 52.78 | ​
Options cancelled | ​ | (444,654) | ​ | $ | 91.72 | ​
Balance at September 30, 2020 |  | 12,280,193 | ​ | $ | 87.65 | ​
Schedule of RSU award and PSU activity under the 2010 Stock Plan | Restricted stock unit (“RSU”) and performance share (“PSU”) award activity under the 2010 Stock Plan was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shares Subject to | ​
​ | ​ | Outstanding Awards | ​
​ |  | Shares |  | Grant Date Value |
Balance at December 31, 2019 |  | 2,602,376 | ​ | $ | 79.69 | ​
RSUs granted | ​ | 1,313,820 | ​ | $ | 98.44 | ​
PSUs granted | ​ | 92,347 | ​ | $ | 106.47 | ​
RSUs released | ​ | (549,051) | ​ | $ | 86.14 | ​
PSUs released | ​ | (35,455) | ​ | $ | 78.85 | ​
RSUs cancelled | ​ | (114,591) | ​ | $ | 84.62 | ​
PSUs cancelled | ​ | (142,250) | ​ | $ | 68.79 | ​
Balance at September 30, 2020 | ​ | 3,167,196 | ​ | $ | 87.45 | ​
Summary of shares available for grant | The following table summarizes our shares available for grant under the 2010 Stock Plan:
​ | ​ | ​ | ​
​ | ​ | Shares Available | ​
​ |  | for Grant |
Balance at December 31, 2019 |  | 9,882,122 | ​
Options, RSUs and PSUs granted |  | (4,755,820) | ​
Options, RSUs and PSUs cancelled | ​ | 641,542 | ​
Balance at September 30, 2020 |  | 5,767,844 | ​

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock options plan and employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References No definition available. + Details
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