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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 29, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Allocated Employee Stock-Based Compensation Expense

We allocated the stock-based compensation expense for our equity incentive plans and our 2000 Employee Stock Purchase Plan (ESPP) as follows (in thousands):

	Three Months Ended March 31,
	2019				2018
Research and development	$	4,306			$	3,033
Selling, general and administrative	8,223				6,272
Total stock-based compensation	$	12,529			$	9,305

Weighted Average Grant-Date Fair Value of Stock Options and ESPP Purchases

The weighted average grant-date fair value per share of stock options and ESPP purchases were as follows:

	Three Months Ended March 31,
	2019				2018
Stock options	$	9.21			$	11.52
ESPP	$	4.67			$	7.39

Valuation Assumptions Used to Estimate Grant-Date Fair Value

The grant-date fair value of stock option grants and ESPP purchases was estimated using the following assumptions:

	Three Months Ended March 31,
	2019			2018
Stock options:
Risk-free interest rate	2.22	%		2.40	%
Dividend yield	—	%		—	%
Volatility	49	%		54	%
Expected life	4.0 years			4.0 years
ESPP:
Risk-free interest rate	2.48	%		1.53	%
Dividend yield	—	%		—	%
Volatility	57	%		53	%
Expected life	6 months			6 months

Stock Option Activity

Activity for stock options during the three months ended March 31, 2019 was as follows (dollars in thousands, except per share amounts):

	Shares			Weighted Average Exercise Price Per Share				Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Options outstanding at December 31, 2018	22,674,062			$	8.71
Granted	246,820			$	22.94
Exercised	(1,413,766	)		$	4.91
Forfeited	(44,200	)		$	14.32
Expired	(22,925	)		$	22.12
Options outstanding at March 31, 2019	21,439,991			$	9.10			3.6 years		$	317,143
Exercisable at March 31, 2019	15,714,721			$	6.01			2.9 years		$	280,307

RSU Activity

Activity for RSUs during the three months ended March 31, 2019 was as follows (dollars in thousands, except per share amounts):

	Shares			Weighted Average Grant Date Fair Value Per Share				Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
RSUs outstanding at December 31, 2018	4,857,334			$	18.42
Awarded	123,410			$	22.94
Vested and released	(194,296	)		$	7.83
Forfeited	(100,630	)		$	18.13
RSUs outstanding at March 31, 2019	4,685,818			$	18.98			2.0 years		$	111,522

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

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