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STOCK PLANS | 6 Months Ended
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Jun. 30, 2017
Stockholders' Equity Note [Abstract] |
STOCK PLANS | STOCK PLANS Stock-Based Compensation The Company recognized stock-based compensation expense in its condensed consolidated statements of operations as follows (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Cost of goods sold |  | $ | 1,395 |  |  | $ | 1,610 |  |  | $ | 2,770 |  |  | $ | 3,159 |
Research and development |  | 647 |  |  | 1,015 |  |  | 1,304 |  |  | 1,908 |
Selling, general and administrative |  | 5,303 |  |  | 5,040 |  |  | 10,670 |  |  | 11,088 |
Total |  | $ | 7,345 |  |  | $ | 7,665 |  |  | $ | 14,744 |  |  | $ | 16,155 |
Stock-based compensation from: |  |  |  |  |  |  |  |
Stock options (employee awards) |  | $ | 5,741 |  |  | $ | 5,789 |  |  | $ | 11,658 |  |  | $ | 12,633 |
Stock options (consultant awards) |  | 29 |  |  | 437 |  |  | 83 |  |  | 723 |
Restricted stock units (employee awards) |  | 1,389 |  |  | 1,140 |  |  | 2,611 |  |  | 2,225 |
Employee stock purchase plan |  | 186 |  |  | 299 |  |  | 392 |  |  | 574 |
Total |  | $ | 7,345 |  |  | $ | 7,665 |  |  | $ | 14,744 |  |  | $ | 16,155 |
Employee Stock Purchase Plan The Company’s 2014 Employee Stock Purchase Plan, or ESPP, features two six-month offering periods per year, running from January 1 to June 30 and July 1 to December 31. Under the ESPP, employees may elect to contribute after-tax earnings to purchase shares at 85% of the closing fair market value of the Company’s common stock on either the offering date or the purchase date, whichever is less. During the six months ended June 30, 2017, 35,745 shares were purchased and issued under the ESPP. Equity Awards The following tables contain information about the Company’s stock option and restricted stock unit, or RSU, activity for the six months ended June 30, 2017:
Stock Options |  | Number of Options |  | Weighted Average Exercise Price
Outstanding at December 31, 2016 |  | 5,207,743 |  |  | $ | 42.16 |
Granted |  | 933,000 |  |  | 44.41 |
Exercised |  | (214,474 | ) |  | 12.19 |
Forfeited |  | (286,978 | ) |  | 52.05 |
Expired |  | (83,589 | ) |  | 80.43 |
Outstanding at June 30, 2017 |  | 5,555,702 |  |  | 42.61 |
Restricted Stock Units |  | Number of Units |  | Weighted Average Grant Date Fair Value
Unvested at December 31, 2016 |  | 364,403 |  |  | $ | 52.85 |
Granted |  | 338,083 |  |  | 44.22 |
Vested |  | (96,928 | ) |  | 54.22 |
Forfeited |  | (44,127 | ) |  | 52.48 |
Unvested at June 30, 2017 |  | 561,431 |  |  | 47.41 |
The weighted average fair value of stock options granted during the six months ended June 30, 2017 was $20.98 per share. The fair values of stock options granted were estimated using the Black-Scholes option valuation model with the following weighted average assumptions:
|  | Six Months Ended June 30, 2017
Expected dividend yield |  | None
Risk free interest rate |  | 1.79%
Expected volatility |  | 51.5%
Expected term of options |  | 5.28

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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