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Equity (Tables) | 3 Months Ended
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Mar. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Assumptions Used to Determine Fair Value of Stock Options Granted | The fair value of the stock options granted during the three months ended March 31, 2023 and 2022 was determined using the Black-Scholes option pricing model with the following assumptions:
| March 31, 2023 |  | March 31, 2022
Expected volatility | 72.6 - 74.2% |  | 73.2 - 76.0%
Expected term (years) | 5.6 - 7.0 |  | 5.6 - 7.0
Risk free interest rate | 3.4% - 4.2% |  | 1.5% - 2.0%
Expected dividend yield | 0 | % |  | 0 | %
Exercise price | $30.40 - $36.27 |  | $64.19 - $78.91
Summary of Stock Option Activity | A summary of the stock option activity under the 2018 Plan during the three months ended March 31, 2023 is presented below. These amounts include stock options granted to employees and directors.
(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, 2022 |  | 6,814,634 |  |  | $ | 49.06 |  |  | 7.7 |  | $ | 34.5 |
Granted |  | 1,470,003 |  |  | $ | 34.27 |  |  |  |  |
Exercised |  | (46,982) |  |  | $ | 17.93 |  |  |  |  |
Forfeited |  | (41,416) |  |  | $ | 63.51 |  |  |  |  |
Outstanding as of March 31, 2023 |  | 8,196,239 |  |  | $ | 46.51 |  |  | 7.9 |  | $ | 19.1 |
Exercisable as of March 31, 2023 |  | 4,114,735 |  |  | $ | 40.45 |  |  | 6.8 |  | $ | 18.9 |
Summary of Restricted Stock Grant Activity | A summary of RSU activity under the 2018 Plan during the three months ended March 31, 2023 is presented below. These amounts include RSUs granted to employees.
|  | Shares |  | Weighted Average Grant Date Fair Value Per Share
Unvested RSUs as of December 31, 2022 |  | 489,216 |  |  | $ | 51.37 |
Granted |  | 702,206 |  |  | $ | 34.39 |
Vested |  | (81,223) |  |  | $ | 43.60 |
Cancelled |  | (2,925) |  |  | $ | 58.13 |
Unvested RSUs as of March 31, 2023 |  | 1,107,274 |  |  | $ | 41.25 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + 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 (c) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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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