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Stock-Based Compensation
 9 Months Ended
Sep. 30, 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 Certain of the Company’s outstanding equity awards were granted under equity incentive plans that are no longer active but continue to govern the outstanding equity awards granted thereunder.
In addition, pursuant to the Company’s 2016 Employee Stock Purchase Plan (“ESPP”), eligible employees may purchase shares of the Company’s Class A common stock at a discount of 15% through payroll deductions of their eligible compensation. The ESPP provides for separate six-month offering periods beginning in May and November of each year.
As of September 30, 2023, total unrecognized compensation cost related to all outstanding equity awards was as follows:
As of September 30, 2023
Unrecognized Compensation CostWeighted-average remaining period
(In thousands)(In years)
Unvested stock options$18,058 1.6
Unvested restricted stock units and awards1,678,691 2.9
ESPP1,296 0.1
Shares of Class A common stock in escrow subject to future vesting1,114 0.8
Total$1,699,159 
Stock-Based Compensation Expense
The Company recorded total stock-based compensation expense as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
(In thousands)
Cost of revenue$7,053 $6,114 $18,677 $14,631 
Research and development94,085 90,787 246,754 279,680 
Sales and marketing51,345 58,747 142,343 184,825 
General and administrative32,524 37,973 90,497 111,850 
Restructuring costs467 15,274 11,096 15,274 
Total$185,474 $208,895 $509,367 $606,260