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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Stock-Based Compensation.  
Schedule summarizing stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan

Stock Options

The following table summarizes stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Number of

    

 

    

 

Weighted-

    

 

 

 

 

 

shares

 

Weighted-

 

average

 

Aggregate

 

 

 

underlying

 

average

 

remaining

 

intrinsic

 

 

 

options

 

exercise price

 

contractual

 

value (in

 

 

 

(in thousands)

 

per share

    

life (in years)

 

thousands)

 

Outstanding at December 31, 2015

 

5,701

 

$

7.10

 

6.7

 

$

102,390

 

Granted

 

1,979

 

 

21.24

 

 

 

 

 

 

Exercised

 

(1,660)

 

 

3.65

 

 

 

 

42,458

 

Canceled/forfeited/expired

 

(109)

 

 

20.00

 

 

 

 

 

 

Outstanding at December 31, 2016

 

5,911

 

$

12.59

 

7.3

 

 

129,591

 

Granted

 

1,877

 

 

43.85

 

 

 

 

 

 

Exercised

 

(639)

 

 

5.76

 

 

 

 

22,105

 

Canceled/forfeited/expired

 

(123)

 

 

23.79

 

 

 

 

 

 

Outstanding at December 31, 2017

 

7,026

 

$

21.36

 

7.3

 

$

69,555

 

Granted

 

896

 

 

30.83

 

 

 

 

 

 

Exercised

 

(1,304)

 

 

14.27

 

 

 

 

46,639

 

Canceled/forfeited/expired

 

(311)

 

 

31.14

 

 

 

 

 

 

Outstanding at December 31, 2018

 

6,307

 

$

23.69

 

6.7

 

$

204,896

 

Vested and expected to vest at December 31, 2018

 

6,213

 

$

23.53

 

6.7

 

$

202,779

 

Exercisable at December 31, 2018

 

3,929

 

$

17.54

 

5.8

 

$

151,798

 

 

Schedule summarizing restricted stock unit activity

Restricted Stock Units

The following table summarizes the activity of unvested restricted stock units under the Stock Plans during the years ended December 31, 2018 and December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

Number of

 

average

 

 

 

 

shares

 

grant date

 

 

 

 

(in thousands)

 

fair value

 

Unvested at December 31, 2016

 

 

 —

 

$

 —

 

Granted

 

 

173

 

 

39.10

 

Vested

 

 

 —

 

 

 —

 

Canceled/forfeited

 

 

 —

 

 

 —

 

Unvested at December 31, 2017

 

 

173

 

$

39.10

 

Granted

 

 

419

 

 

33.64

 

Vested

 

 

(41)

 

 

39.36

 

Canceled/forfeited

 

 

(19)

 

 

33.67

 

Unvested at December 31, 2018

 

 

532

 

$

35.17

 

 

Schedule summarizing the allocation of stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended

 

 

 

December 31,

 

 

 

2018

 

2017

 

2016

 

 

 

 

 

    

 

 

 

 

 

 

Cost of sales

    

$

703

 

$

597

    

$

233

 

Selling, general & administrative

 

 

19,816

 

 

13,006

 

 

6,475

 

Research and development

 

 

5,185

 

 

3,989

 

 

2,078

 

Total

 

$

25,704

 

$

17,592

 

$

8,786

 

 

Schedule of the weighted-average assumptions used to estimate the fair value of options granted to employees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended

 

 

 

 

December 31,

 

 

 

 

2018

 

 

2017

 

 

2016

 

Risk-free interest rate

    

 

2.67

%  

 

2.13

%  

 

1.59

Expected dividend yield

 

 

0.0

%  

 

0.0

%  

 

0.0

%

Expected volatility

 

 

44.9

%  

 

46.5

%  

 

52.9

%

Expected term (in years)

 

 

6.10

 

 

6.04

 

 

6.04

 

 

Schedule of Common stock reserved for issuance

Common stock reserved for issuance is as follows (in thousands):

 

 

 

 

 

    

As of

 

 

 

December 31,

 

 

 

2018

 

 

 

 

 

Stock options issued and outstanding—2001 Plan

 

510

 

Stock options issued and outstanding—2011 Plan

 

1,540

 

Stock options issued and outstanding—2015 Plan

 

4,789

 

Employee stock purchase plan

 

1,062

 

Authorized for future stock awards or option grants

 

4,226

 

 

 

12,127