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Equity Plans and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Option Activity under Stock-Based Compensation Plans

Activity under our stock plans is set forth below:

		Shares Underlying Outstanding Options (in thousands)				Weighted-Average Exercise Price Per Share				Weighted-Average Remaining Contractual Term (years)				Aggregate Intrinsic Value (in thousands)
Balance at December 31, 2020			8,505			$	11.57
Options granted			3,894				10.49
Options exercised			(1,035	)			6.46
Options cancelled:
Options forfeited (unvested)			(521	)			8.13
Options expired (vested)			(444	)			18.48
Balance at December 31, 2021			10,399			$	11.55				4.16			$	42,756
Vested and expected to vest at    December 31, 2021			10,029			$	11.57				4.08			$	41,321
Exercisable at December 31, 2021			5,796			$	13.07				2.64			$	20,488

Summary of Non-vested Restricted Stock Units Activity

Our non-vested stock awards are comprised of restricted stock units granted with performance and time-based vesting criteria. A summary of the status of non-vested restricted stock units as of December 31, 2021, and activities during 2021 are summarized as follows:

	Number of Shares (In thousands)				Weighted-Average Grant-Date Fair Value
Non-vested as of December 31, 2020		1,794			$	7.23
Granted		1,818				9.50
Vested		(537	)			8.85
Forfeited		(424	)			8.21
Non-vested as of December 31, 2021		2,651			$	8.30

Summary Of Performance Based Restricted Stock Unit

We granted performance-based restricted stock unit (“PSU”) to certain executives in February 2021. These PSUs vest upon a specified market condition. The summary of PSU activities for the year ended December 31, 2021 is as follows:

		Number of Shares (in thousands)				Weighted-Average Grant-Date Fair Value Per Share
Non-vested as of December 31, 2020			-			$	-
Granted			297				8.40
Forfeited			(60	)			8.40
Non-vested as of December 31, 2021			237			$	8.40

Fair Value-Based Measurements and Weighted-Average Assumptions

The fair value of each option is estimated on the date of grant using the Black-Scholes option valuation model. The fair value of each RSU is determined at the date of grant using our closing stock price. The fair value of each PSU is estimated using the Monte Carlo simulation method on the date of grant. The weighted-average assumptions used in the calculations of these fair value measurements are as follows:

		Stock Options												Market-Based Performance Stock Unit (“PSUs”)				Employee Stock Purchase Plan
		Year Ended December 31,												Year Ended December 31,				Year Ended December 31,
		2021				2020				2019				2021				2021				2020				2019
Weighted-average fair value		$	7.17			$	3.91			$	4.58			$	8.40			$	6.48			$	2.82			$	2.72
Risk-free interest rate			0.7	%			1.0	%			2.1	%		From 0.03% to 1.92%					0.1	%			0.9	%			1.9	%
Expected life (in years)			4.5				4.5				4.5				2.9				1.2				1.2				1.2
Expected Volatility			0.9				0.9				0.9				0.9				1.0				0.7				0.7

Stock-Based Compensation Expense

We recognized the following amounts of stock-based compensation expense (in thousands):

		Year Ended December 31,
		2021				2020				2019
Employees and directors stock-based compensation expense		$	21,285			$	13,484			$	25,456
		Year Ended December 31,
		2021				2020				2019
Research and development		$	3,818			$	1,000			$	8,058
Selling, general and administrative			14,894				9,585				10,224
Cost of sales - product			553				619				1,088
Inventory			2,020				2,280				1,964
Restructuring			-				-				4,122
Total		$	21,285			$	13,484			$	25,456

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