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STOCK PLANS | 6 Months Ended
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Jun. 30, 2022
Stockholders' Equity Note [Abstract] |
STOCK PLANS | STOCK PLANS Stock-Based Compensation The Company recognized stock-based compensation expense in the periods presented as follows (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Cost of goods sold |  | $ | 1,478 |  |  | $ | 1,465 |  |  | $ | 2,830 |  |  | $ | 2,917 |
Research and development |  | 1,520 |  |  | 1,329 |  |  | 2,978 |  |  | 2,435 |
Selling, general and administrative |  | 8,546 |  |  | 7,667 |  |  | 16,925 |  |  | 15,219 |
Total |  | $ | 11,544 |  |  | $ | 10,461 |  |  | $ | 22,733 |  |  | $ | 20,571 |
Stock-based compensation from: |  |  |  |  |  |  |  |
Stock options |  | $ | 6,542 |  |  | $ | 6,552 |  |  | $ | 13,327 |  |  | $ | 13,048 |
Restricted stock units |  | 4,717 |  |  | 3,646 |  |  | 8,830 |  |  | 7,038 |
Employee stock purchase plan |  | 285 |  |  | 263 |  |  | 576 |  |  | 485 |
Total |  | $ | 11,544 |  |  | $ | 10,461 |  |  | $ | 22,733 |  |  | $ | 20,571 |
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, 2022:
Stock Options |  | Number of Options |  | Weighted Average Exercise Price (Per Share)
Outstanding at December 31, 2021 |  | 6,050,540 |  |  | $ | 49.32 |
Granted |  | 1,010,780 |  |  | 60.22 |
Exercised |  | (630,413) |  |  | 34.80 |
Forfeited |  | (54,215) |  |  | 52.41 |
Expired |  | (13,054) |  |  | 85.48 |
Outstanding at June 30, 2022 |  | 6,363,638 |  |  | 52.39 |
Restricted Stock Units |  | Number of Units |  | Weighted Average Grant Date Fair Value (Per Share)
Unvested at December 31, 2021 |  | 955,277 |  |  | $ | 52.85 |
Granted |  | 568,049 |  |  | 60.63 |
Vested |  | (298,607) |  |  | 49.65 |
Forfeited |  | (44,929) |  |  | 54.16 |
Unvested at June 30, 2022 |  | 1,179,790 |  |  | 57.36 |
The weighted average fair value of stock options granted during the six months ended June 30, 2022 was $25.69 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 Assumption |  | Six Months Ended June 30, 2022
Expected dividend yield |  | None
Risk-free interest rate |  | 2.83%
Expected volatility |  | 45.15%
Expected term of options |  | 4.92 years
Employee Stock Purchase Plan In June 2022, the Company’s stockholders approved the Amended and Restated 2014 Employee Stock Purchase Plan, or ESPP. The ESPP was amended to increase the number of shares of common stock that may be sold under the ESPP by an additional 500,000 shares. The 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, 2022, 36,729 shares were purchased and issued through the ESPP.

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- Definition The entire disclosure of an entity's employee compensation and benefit plans, excluding share-based compensation and including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI https://asc.fasb.org/topic&trid=2197446 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI https://asc.fasb.org/topic&trid=2235017 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI https://asc.fasb.org/topic&trid=2127225 + Details
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