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Equity Incentive and Employee Stock Purchase Plan (Tables)
3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Restricted Stock Award Activity
Restricted stock activity for the three months ended March 31, 2023 is set forth below:
SharesWeighted-Average
Grant-Date
Fair Value
Nonvested at January 1, 202335,416 $38.42 
Granted— — 
Vested(9,615)37.97 
Canceled— — 
Nonvested at March 31, 2023
25,801 $38.59 
Restricted Stock Unit Award Activity
Restricted stock unit activity for the three months ended March 31, 2023 is set forth below:
Number of
Shares
Weighted-Average
Grant-Date
Fair Value
Weighted-Average
Remaining
Contractual
Life (in years)
Aggregate
Intrinsic
Value
Outstanding at January 1, 20231,082,451$51.63 
Granted41,754 59.50 
Vested(24,840)48.85 
Canceled(8,177)56.53 
Outstanding at March 31, 2023
1,091,188 $51.95 3.6$37,198,599 
Vested and expected to vest at March 31, 2023
727,674 $53.10 3.1$24,806,395 
Employee Stock Purchase Plan, Valuation Assumptions
The compensation expense related to the current offering period of the Purchase Plan has been estimated utilizing the following assumptions:
March 31, 2023
Risk-free interest rate4.54%
Expected term (in years)0.5
Dividend yield0.00%
Expected volatility48.19%
Weighted average volatility48.19%