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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%

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Tabular disclosure of share-based payment arrangement.

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