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Equity (Tables) | 12 Months Ended
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Dec. 31, 2022
Schedule of assumptions used to determine fair value of stock options granted | The fair value of the stock options granted during each of the years ended December 31, 2022, 2021 and 2020 was determined using the Black-Scholes option pricing model at the grant date with the following range of assumptions:
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
Expected volatility | 73% - 76% |  | 74% - 78% |  | 70% - 75%
Expected term (years) | 5.5 - 7.0 |  | 5.3 - 7.0 |  | 5.3 - 7.0
Risk free interest rate | 1.5% - 4.2% |  | 0.5% - 1.3% |  | 0.3% - 1.6%
Expected dividend yield | 0 | % |  | 0 | % |  | 0 | %
Exercise price | $36.79 - $78.91 |  | $66.82 - $100.40 |  | $22.70 - $50.00
Summary of stock option activity | A summary of the stock option activity under the 2018 Plan as of December 31, 2022 is presented below. These amounts include stock options granted to employees, directors and consultants.
(dollars in millions, except weighted average exercise price) |  | Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2021 |  | 5,343,254 |  |  | $ | 44.98 |  |  |  |  |
Granted |  | 1,889,501 |  |  | $ | 59.23 |  |  |  |  |
Exercised |  | (184,160) |  |  | $ | 19.49 |  |  |  |  |
Forfeited |  | (233,961) |  |  | $ | 61.29 |  |  |  |  |
Outstanding as of December 31, 2022 |  | 6,814,634 |  |  | $ | 49.06 |  |  | 7.7 |  | $ | 34.5 |
Exercisable as of December 31, 2022 |  | 3,601,334 |  |  | $ | 37.22 |  |  | 6.8 |  | $ | 33.0 |
Restricted stock awards |
Summary of restricted stock award activity | A summary of the restricted stock award activity under the Incentive Plan as of December 31, 2022 is presented below. These amounts include restricted stock granted to employees, directors and consultants.
|  | Shares |  | Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock as of December 31, 2021 |  | 30,625 |  |  | $ | 16.00 |
Vested |  | (29,305) |  |  | $ | 16.00 |
Forfeited |  | (1,320) |  |  | $ | 16.00 |
Unvested restricted stock as of December 31, 2022 |  | — |  |  | $ | 16.00 |
Restricted stock units |
Summary of restricted stock award activity | A summary of restricted stock unit activity under the 2018 Plan for the year ended December 31, 2022 is presented below. These amounts include restricted stock units granted to employees.
|  | Shares |  | Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units as of December 31, 2021 |  | 88,307 |  |  | $ | 20.02 |
Granted |  | 460,763 |  |  | $ | 54.59 |
Exercised |  | (42,500) |  |  | $ | 20.04 |
Forfeited |  | (17,354) |  |  | $ | 53.91 |
Unvested restricted stock units as of December 31, 2022 |  | 489,216 |  |  | $ | 51.37 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, 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 (d) -URI https://asc.fasb.org/extlink&oid=128089324&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 (e) -URI https://asc.fasb.org/extlink&oid=128089324&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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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