XML 36 R26.htm IDEA: XBRL DOCUMENT
v3.22.2

Stock Incentive Plans (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Expense Recognized in the Period | The following table presents the share-based compensation expense recognized in the periods presented:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Restricted stock units | $ | 15,078 |  |  | $ | 30,068 |  |  | $ | 30,423 |  |  | $ | 30,068 |
Stock options | 6,160 |  |  | 8,272 |  |  | 13,818 |  |  | 13,777 |
CEO Long-Term Performance Award | 13,267 |  |  | 11,363 |  |  | 26,388 |  |  | 11,363 |
Employee Stock Purchase Plan | 643 |  |  | 78 |  |  | 1,524 |  |  | 78 |
Secondary sales of common stock | — |  |  | 5,755 |  |  | — |  |  | 11,642 |
Total | $ | 35,148 |  |  | $ | 55,536 |  |  | $ | 72,153 |  |  | $ | 66,928 |
Summary of RSU Activity Under the Plans | A summary of the Company's RSU activity under the Plans was as follows:
| Number of Restricted Stock Units |  | Weighted-average grant date fair value per share |  |
Balance as of December 31, 2021 | 9,001,949 |  | $ | 18.30 |  |  |
Granted | 17,387,744 |  | 10.48 |  |  |
Vested | (2,029,261) |  | 14.77 |  |  |
Canceled and forfeited | (3,889,475) |  |  | 14.88 |  |  |
Balance as of June 30, 2022 | 20,470,957 |  | $ | 11.11 |  |  |
A summary of the Company's stock option activity under both stock incentive plans was as follows:
| Number of Options |  | Weighted-Average Exercise Price per Share |  | Weighted-Average Remaining Contractual Life |  | Aggregate Intrinsic Value(1)
Balance as of December 31, 2021(2) | 44,185,488 |  |  | $ | 13.31 |  |  | 8.46 years |  | $ | 279,242 |
Granted | 3,013,518 |  |  | 10.39 |  |  |  |  |
Exercised | (2,918,489) |  |  | 1.19 |  |  |  |  |
Canceled and forfeited | (2,755,876) |  |  | 6.27 |  |  |  |  |
Balance as of June 30, 2022(2) | 41,524,641 |  | $ | 14.41 |  |  | 7.87 years |  | $ | 79,475 |
Vested as of June 30, 2022 | 10,381,579 |  | $ | 4.12 |  |  | 5.29 years |  | $ | 59,976 |
(1) Intrinsic value is calculated based on the difference between the exercise price of in-the-money-stock options and the fair value of the common stock as of the respective balance sheet dates. (2) The 2011 Plan allows for early exercise of stock options and these balances include all exercisable stock options regardless of vesting status. The CEO Long-Term Performance Award is divided into seven equal tranches which vest upon the achievement of the following Company stock price hurdles:
Tranche |  | Company Stock Price Hurdle |  | Number of Options Eligible to Vest
1 |  | $67.50 |  | 2,826,884
2 |  | $78.98 |  | 2,826,884
3 |  | $92.40 |  | 2,826,884
4 |  | $108.11 |  | 2,826,884
5 |  | $126.49 |  | 2,826,884
6 |  | $147.99 |  | 2,826,884
7 |  | $173.15 |  | 2,826,884
Total |  |  |  | 19,788,188
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of stock options granted was estimated using the Black-Scholes option pricing model and the following weighted average assumptions:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Dividend yield | 0.0% |  | 0.0% |  | 0.0% |  | 0.0%
Expected volatility | 61.90% |  | 54.72% |  | 59.37% |  | 54.15%
Expected term (in years) | 6.08 |  | 6.84 |  | 6.08 |  | 6.73
Risk-free interest rate | 2.81% |  | 1.32% |  | 2.18% |  | 1.22%

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration