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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation 
The Company’s 2016 Stock Option and Incentive Plan (the “2016 Plan”) provides for granting stock options, restricted stock units, restricted stock awards, stock appreciation rights, unrestricted stock awards, performance share awards, dividend equivalent rights and cash-based awards to its employees, directors and consultants. Certain of the Company’s outstanding equity awards were granted under equity incentive plans that are no longer active but continue to govern the outstanding equity awards granted thereunder.
The Company also offers an Employee Stock Purchase Plan (“ESPP”) to eligible employees. The ESPP provides for separate six-month offering periods beginning in May and November of each year.
As of March 31, 2023, total unrecognized compensation cost related to all outstanding equity awards was as follows:
As of March 31, 2023
Unrecognized Compensation CostWeighted-average remaining period
(In thousands)(In years)
Unvested stock options$31,238 1.7
Unvested restricted stock units and awards1,427,132 2.8
ESPP3,019 0.1
Class A shares in escrow subject to future vesting1,822 1.3
Total$1,463,211 
Stock-Based Compensation Expense
The Company recorded total stock-based compensation expense as follows:
Three Months Ended
March 31,
20232022
(In thousands)
Cost of revenue$5,290 $4,521 
Research and development78,093 79,369 
Sales and marketing48,129 47,586 
General and administrative28,954 23,799 
Restructuring costs10,333 — 
Total$170,799 $155,275