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Stock Incentive Plan (Tables)
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
A summary of the stock option activity is as follows:
OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual LifeAggregate Intrinsic Value (in thousands)
Outstanding, December 31, 20203,516,484 $12.79 5.93$25,718 
Granted482,400 $20.86 
Exercised(138,575)$5.02 
Cancelled(48,975)$13.86 
Outstanding, March 31, 20213,811,334 $14.08 6.19$29,905 
Exercisable, March 31, 20212,239,791 $11.99 4.26$22,543 
Schedule of Weighted-Average Assumptions for Options Granted
The Company used the following weighted-average assumptions for options granted during the periods indicated:
March 31, 2021
Expected term (in years)5.93
Expected volatility58.38  %
Risk free rate1.14  %
Expected dividends—  %
Summary of Stock Unit Activity
A summary of the status of non-vested RSUs/PSUs as of March 31, 2021 and the changes during the three months then ended are presented below:
Outstanding Stock Units
Stock UnitsWeighted-Average Fair Value at Date of Grant per ShareWeighted Average Remaining Vesting LifeAggregate Intrinsic Value (in thousands)
Unvested December 31, 20201,782,905 $15.23 1.83$31,825 
Granted774,464 $20.72 
Released(94,734)$19.08 
Forfeited(121,686)$16.55 
Unvested March 31, 20212,340,949 $16.82 2.09$47,428