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Equity Plans and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

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 as of December 31, 2021			10,399			$	11.55				4.16				42,756
Options granted			1,793				12.70
Options exercised			(155	)			7.24
Options cancelled:
Options forfeited (unvested)			(25	)			9.40
Options expired (vested)			(38	)			35.48
Balance as of March 31, 2022			11,974			$	11.71				4.58			$	20,270
Vested and expected to vest as of March 31, 2022			11,494			$	11.70				4.31			$	19,947
Exercisable as of March 31 2022			6,473			$	12.48				3.09			$	13,042

Summary of Restricted Stock Units Activity

Restricted stock unit activity under our stock-based compensation plans during the three months ended March 31, 2022 was as follows (in thousands except per share amounts):

		Number of Shares (in thousands)				Weighted-Average Grant-Date Fair Value Per Share
Non-vested as of December 31, 2021			2,651			$	8.30
Granted			1,761				12.65
Vested			(999	)			8.25
Forfeited			(24	)			11.49
Non-vested as of March 31, 2022			3,389			$	10.56

Summary Of Performance Based Restricted Stock Unit

		Number of Shares (in thousands)				Weighted-Average Grant-Date Fair Value Per Share
Non-vested as of December 31, 2021			237			$	8.40
Granted			193				11.62
Vested			(237	)			8.40
Non-vested as of March 31, 2022			193			$	11.62

Fair Value-Based Measurements and Weighted-Average Assumptions

The fair value-based measurement 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”)
		Three Months Ended									Three Months Ended
		March 31,									March 31,
		2022				2021					2022
Weighted-average fair value per share		$	8.05			$	6.72				$	11.62
Risk-free interest rate			1.9	%			0.5	%				1.7	%
Expected life (in years)			4.5				4.5					2.9
Volatility			0.8				1.0					0.9

Stock-Based Compensation Expense

The components of stock-based compensation expense were as follows (in thousands):

		Three Months Ended
		March 31,
		2022				2021
Research and development		$	1,276			$	872
Selling, general and administrative			5,427				3,144
Cost of sales - product			160				170
Inventory			783				537
Total		$	7,646			$	4,723

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