XML 28 R18.htm IDEA: XBRL DOCUMENT v3.21.1
Share-Based Compensation
 3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation SHARE-BASED COMPENSATION
On November 30, 2017, the Company’s stockholders approved the adoption of the 2017 Employee, Director and Consultant Equity Incentive Plan (as amended, the “2017 Plan”). The 2017 Plan allows the Company, under the direction of the Compensation Committee of the Board of Directors, to make grants of restricted and unrestricted stock awards to employees, consultants, and directors. Stockholders have approved annual amendments to the 2017 Plan increasing the shares available to grant. As of March 31, 2021, the Company has 3.3 million shares of common stock available for grant under the 2017 Plan. If an RSU awarded under the 2017 Plan is cancelled or forfeited without the issuance of shares of common stock, the unissued or reacquired shares, which were subject to the RSU, shall again be available for issuance pursuant to the 2017 Plan. To the extent awards outstanding under the Company's prior equity plans expire or are cancelled without delivery of shares of common stock, they also shall be available for issuance pursuant to the 2017 Plan.
The number of shares, terms, and vesting periods are determined by the Company’s Board of Directors or a committee thereof on an award-by-award basis. RSUs granted to employees generally vest ratably over four years on the anniversary date of the designated day of the last week of the month in which the RSUs are granted. The number of RSUs awarded to certain employees may be increased or reduced based on certain additional performance metrics. Options and RSUs granted to non-employee directors vest in full upon completion of one year of service on the anniversary following the date of the grant. Options generally vest ratably over service periods of four years.  Options granted after December 5, 2012 expire eight years from the date of grant, and options granted prior to that date generally expire ten years from the date of grant. In September 2014, the Company began generally issuing RSUs in lieu of stock options.  

Stock Options
A summary of the stock option activity under the Company’s equity plans and inducement awards, for the three months ended March 31, 2021 is as follows:
(number of shares in millions)Number
of
Shares		Weighted
Average
Exercise
Price
Options outstanding at December 31, 20205.2 $23.24 
Options granted— $— 
Less:
Options exercised(1.2)$21.83 
Options canceled or expired(0.1)$24.29 
Options outstanding at March 31, 20213.9 $23.66 
Options exercisable at March 31, 20213.3 $25.79 
As of March 31, 2021, there was $4.0 million of total unrecognized share-based compensation expense related to stock options that will be recognized over a weighted-average period of 2.3 years.
Restricted Stock Units
A summary of the RSU activity under the Company’s equity plans and inducement awards, including RSU awards with performance metrics, for the three months ended March 31, 2021 is as follows:
(number of shares in millions)Number
of
Shares		Weighted
Average
Grant Date
Fair Value
RSUs outstanding at December 31, 20203.2 $20.56 
RSUs granted1.3 $30.07 
Less:
RSUs vested— $— 
RSUs canceled(0.1)$25.60 
RSUs outstanding at March 31, 20214.4 $23.53 
As of March 31, 2021, there was $89.5 million of total unrecognized share-based compensation expense related to RSUs that will be recognized over a weighted-average period of 2.8 years. 
Employee Stock Purchase Plan
The Company also has an Employee Stock Purchase Plan that was approved by stockholders in 2012 (the “2012 Purchase Plan”), under which 2.0 million shares of common stock have been authorized.  Shares are issued under the 2012 Purchase Plan twice yearly at the end of each offering period.  As of March 31, 2021, approximately 0.2 million shares of common stock are available for issuance under the 2012 Purchase Plan.
Share-Based Compensation Expense
Share-based compensation expense recognized and included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows:
Three Months Ended
March 31,
(in millions)20212020
Cost of molecular diagnostic testing$0.3 $0.3 
Cost of pharmaceutical and clinical services0.1 0.1 
Research and development expense1.5 1.2 
Selling, general, and administrative expense7.1 5.9 
     Total share-based compensation expense$9.0 $7.5