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STOCK PLANS
 9 Months Ended
Sep. 30, 2021
Stockholders' Equity Note [Abstract]  
STOCK PLANS STOCK PLANS
Stock Incentive Plans

In June 2021, the Company’s stockholders approved the Amended and Restated 2011 Stock Incentive Plan, or 2011 Plan. The 2011 Plan was amended to increase the number of shares of common stock authorized for issuance as equity awards under the plan by 1,500,000 shares.
Stock-Based Compensation

The Company recognized stock-based compensation expense in the periods presented as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202020212020
Cost of goods sold$1,512 $1,546 $4,429 $4,050 
Research and development1,156 1,401 3,591 3,944 
Selling, general and administrative8,116 8,007 23,336 21,030 
        Total$10,784 $10,954 $31,356 $29,024 
Stock-based compensation from:
    Stock options$6,458 $7,181 $19,507 $19,795 
    Restricted stock units4,126 3,552 11,164 8,589 
    Employee stock purchase plan200 221 685 640 
        Total$10,784 $10,954 $31,356 $29,024 

Equity Awards

The following tables contain information about the Company’s stock option and restricted stock unit, or RSU, activity for the nine months ended September 30, 2021:
Stock Options Number of Options Weighted Average Exercise Price (Per Share)
 Outstanding at December 31, 20206,235,118 $45.98 
     Granted769,352 61.33 
     Exercised(553,023)34.43 
     Forfeited(238,865)46.19 
     Expired(42,416)76.62 
 Outstanding at September 30, 20216,170,166 48.71 
Restricted Stock Units Number of Units Weighted Average Grant Date Fair Value (Per Share)
Unvested at December 31, 2020957,453 $46.34 
     Granted401,845 61.53 
     Vested(302,228)44.87 
     Forfeited(114,562)49.95 
Unvested at September 30, 2021942,508 52.85 

The weighted average fair value of stock options granted during the nine months ended September 30, 2021 was $27.36 per share. The fair values of stock options granted were estimated using the Black-Scholes option valuation model with the following weighted average assumptions:
Black-Scholes Weighted Average AssumptionNine Months Ended September 30, 2021
Expected dividend yieldNone
Risk-free interest rate0.82%
Expected volatility49.26%
Expected term of options5.42 years
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 nine months ended September 30, 2021, 31,230 shares were purchased and issued through the ESPP.