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Stock-Based Incentive Plans (Tables) | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | A summary of the stock option activity is as follows:
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2021 | 3,194,738 |  |  | $15.65 |  |  | 6.45 |  | $ | 2,236 |
Granted | 999,877 |  |  | $9.22 |  |  |  |  |
Exercised | (20,750) |  |  | $4.69 |  |  |  |  |
Cancelled | (56,889) |  |  | $16.61 |  |  |  |  |
Outstanding, March 31, 2022 | 4,116,976 |  |  | $14.13 |  |  | 6.99 |  | $ | 1,144 |
Exercisable, March 31, 2022 | 2,085,998 |  |  | $14.78 |  |  | 4.87 |  | $ | 1,144 |
Schedule of Weighted-Average Assumptions for Options Granted | The Company used the following weighted-average assumptions for options granted during the three months ended March 31, 2022:
Expected term (in years) |  | 6.12 |  |
Expected volatility |  | 60.74 | % |  |
Risk free rate |  | 2.15 | % |  |
Expected dividends |  | — | % |  |
Summary of Stock Unit Activity | A summary of the restricted and performance stock unit activity is as follows:
| Outstanding Stock Units
| Stock Units |  | Weighted-Average Fair Value at Date of Grant per Share |  | Weighted Average Remaining Vesting Life |  | Aggregate Intrinsic Value (in thousands)
Unvested, December 31, 2021 | 1,730,765 |  |  | $ | 18.45 |  |  | 1.51 |  | $ | 19,633 |
Granted | 1,766,609 |  |  | $ | 8.27 |  |  |  |  |
Released | (215,287) |  |  | $ | 13.63 |  |  |  |  |
Forfeited | (102,153) |  |  | $ | 17.35 |  |  |  |  |
Unvested, March 31, 2022 | 3,179,934 |  |  | $ | 13.15 |  |  | 2.23 |  | $ | 25,249 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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