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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Summary of Stock Option Activity

The following table summarizes the stock option activity for the three months ended March 31, 2021:

 

 

 

Shares

(in thousands)

 

 

Weighted-

average

Exercise Price

 

 

Weighted-

average

Remaining

Contractual

Term (Years)

 

Outstanding at December 31, 2020

 

 

18,912

 

 

$

19.59

 

 

 

7.21

 

Granted

 

 

102

 

 

$

18.96

 

 

 

 

 

Exercised

 

 

(71

)

 

$

15.86

 

 

 

 

 

Expired and forfeited

 

 

(148

)

 

$

20.81

 

 

 

 

 

Outstanding at March 31, 2021

 

 

18,795

 

 

$

19.59

 

 

 

6.92

 

Summary of Restricted Stock Unit Activity

The following table summarizes the restricted stock unit activity for the three months ended March 31, 2021:

 

 

 

Shares

(in thousands)

 

 

Weighted Average Grant Date Fair Value

 

Outstanding at December 31, 2020

 

 

603

 

 

$

15.84

 

Granted

 

 

17

 

 

$

18.93

 

Released

 

 

(39

)

 

$

15.98

 

Expired and forfeited

 

 

(11

)

 

$

15.85

 

Outstanding at March 31, 2021

 

 

570

 

 

$

15.93

 

Summary of Stock-Based Compensation Expense related to Stock-Based Payment Awards Granted

The following table summarizes stock-based compensation expense related to stock-based payment awards granted pursuant to all of our equity compensation arrangements (in thousands):

 

 

Three Months Ended

March 31,

 

 

 

2021

 

 

2020

 

Research and development

 

$

4,937

 

 

$

5,287

 

General and administrative

 

 

2,786

 

 

 

3,431

 

Sales and marketing

 

 

3,763

 

 

 

3,256

 

Total stock-based compensation expense

 

$

11,486

 

 

$

11,974

 

Summary of Fair Value of Option Grant on Grant Date Using Black-Scholes Option Pricing Model

We estimated the fair value of each option grant on the grant date using the Black-Scholes option pricing model with the following weighted-average assumptions:

 

 

March 31,

 

 

 

2021

 

 

2020

 

Risk-free interest rate

 

 

0.7

%

 

 

1.3

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Volatility

 

 

69.4

%

 

 

66.2

%

Expected life (years)

 

 

6

 

 

 

6