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Share based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options
The fair value of the stock options granted is estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:
Years Ended December 31,
202120202019
Expected stock price volatility65.4 %75.1 %74.1 %
Risk free interest rate0.6 %1.6 %2.4 %
Expected life of options (years) 5.405.675.68
Expected annual dividend per share$0.00 $0.00 $0.00 
Schedule of Stock Options Activity
A summary of the Company's stock options for the year ended December 31, 2021 were as follows:
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Years
Aggregate
Intrinsic
Value
(in thousands)(in millions)
Options outstanding, December 31, 201815,810 $8.63 
Granted4,091 $10.29 
Exercised(1,967)$5.83 
Forfeited(879)$11.07 
Expired(331)$13.38 
Options outstanding, December 31, 201916,724 $9.15 
Granted4,362 $9.98 
Exercised(5,243)$8.11 
Forfeited(1,376)$10.42 
Expired(435)$13.33 
Options outstanding, December 31, 202014,032 $9.54 
Granted3,262 $16.53 
Exercised(1,483)$7.05 
Forfeited(844)$12.97 
Expired(236)$13.28 
Options outstanding, December 31, 202114,731 $11.08 6.4$30.3 
Vested and unvested expected to vest, December 31, 202113,432 $10.89 6.2$28.8 
Exercisable at December 31, 20219,141 $9.58 5.1$24.5 
Schedule of Non-Vested RSU Activity under the Plan A summary of non-vested RSU activity under the Plan for the year ended December 31, 2021 is as follows:
 
Number of
Shares
Weighted
Average Grant
Date Fair
Value
Weighted
Average
Remaining
Years
Aggregate
Intrinsic
Value
 
(in thousands)
(in millions)
Non-vested units as of December 31, 20183,712 $10.59 
Granted3,526 $10.92 
Vested(921)$8.49 
Forfeited(525)$10.52 
Non-vested units as of December 31, 20195,792 $11.18 
Granted4,692 $11.29 
Vested(2,164)$10.70 
Forfeited(1,240)$11.14 
Non-vested units as of December 31, 20207,080 $11.35 
Granted3,191 $16.94 
Vested(1,863)$15.77 
Forfeited(1,067)$12.82 
Non-vested units as of December 31, 20217,341 $13.90 2.3$84.8 
Schedule of Equity Compensation Expenses
The following table summarizes information related to compensation expense recognized in the Consolidated Statements of Operations related to the equity awards:
Years Ended December 31,
(in thousands)202120202019
Research and development expense$17,340 $20,817 $17,575 
Selling, general, and administrative expense40,498 28,334 26,855 
Total equity compensation expense$57,838 $49,151 $44,430