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Equity Plans and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 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:

Stock Options

The following table summarizes the activity of stock options for the period ended December 31, 2022:

		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, 2021			10,399			$	11.55				4.16			$	42,756
Options granted			2,100				12.50
Options exercised			(1,194	)			8.07
Options cancelled:
Options forfeited (unvested)			(105	)			9.40
Options expired (vested)			(1,861	)			19.28
Balance at December 31, 2022			9,339			$	10.70				4.61			$	16,291
Vested and expected to vest at    December 31, 2022			9,148			$	10.66				4.58			$	16,235
Exercisable at December 31, 2022			5,528			$	10.02				3.83			$	13,984

Summary of Non-vested Restricted Stock Units Activity

The following table summarizes the activity of RSUs for the period ended December 31, 2022:

	Number of Shares (In thousands)				Weighted-Average Grant-Date Fair Value
Non-vested as of December 31, 2021		2,651			$	8.30
Granted		2,310				12.36
Vested		(1,195	)			7.72
Forfeited		(287	)			10.69
Non-vested as of December 31, 2022		3,479			$	11.00

Summary Of Performance Based Restricted Stock Unit

We granted market-based performance stock units (“PSUs”) to certain executives. These PSUs vest upon a specified market condition. The summary of PSU activities for the year ended December 31, 2022 is as follows:

		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 December 31, 2022			193			$	11.62

Fair Value-Based Measurements and Weighted-Average Assumptions

The weighted-average assumptions used in the calculations of these fair value measurements are as follows:

		Stock Options												PSUs							Employee Stock Purchase Plan
		Year Ended December 31,												Year Ended December 31,							Year Ended December 31,
		2022				2021				2020				2022			2021				2022				2021				2020
Weighted-average fair value		$	7.95			$	7.17			$	3.91			$	11.62		$	8.40			$	7.37			$	6.48			$	2.82
Risk-free interest rate			2.0	%			0.7	%			1.0	%			1.7	%	From 0.03% to 1.92%					2.1	%			0.1	%			0.9	%
Expected life (in years)			4.5				4.5				4.5				2.9			2.9				1.3				1.2				1.2
Expected volatility			0.8				0.9				0.9				0.9			0.9				1.0				1.0				0.7

Stock-Based Compensation Expense

		Year Ended December 31,
		2022				2021				2020
Employees and directors stock-based compensation expense		$	32,915			$	21,285			$	13,484
		Year Ended December 31,
		2022				2021				2020
Research and development		$	5,954			$	3,818			$	1,000
Selling, general and administrative			23,118				14,894				9,585
Cost of sales - product			1,123				553				619
Inventories, net			2,720				2,020				2,280
Total		$	32,915			$	21,285			$	13,484

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