XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.22.1

Stockholders' Equity | 3 Months Ended
--- | ---
Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Stockholders' Equity | Stockholders' Equity Accelerated Share Repurchases On February 22, 2022, we entered into an accelerated share repurchase (ASR) agreement with a financial institution (2022 ASR). We accounted for the 2022 ASR as two separate transactions, a repurchase of our common stock and an equity-linked contract indexed to our common stock that met certain accounting criteria for classification in stockholders' equity. Upon execution, we paid a fixed amount of $300.0 million and received an initial delivery of 8,562,255 shares of our common stock over the following three business days, which were retired immediately. The initial delivery of shares of our common stock represented approximately 80 percent of the fixed amount paid of $300.0 million, which was based on the share price of our common stock on the date of execution. The 2022 ASR was recorded as a reduction to additional paid in capital on our condensed consolidated statements of stockholders’ equity. The 2022 ASR settled during the second quarter of 2022 and we received an additional delivery of 837,001 shares of our common stock, which were retired immediately. The 2022 ASR resulted in a total repurchase of 9,399,256 shares of our common stock at a volume-weighted-average price, less an agreed upon discount, $31.9174 per share. We were not required to make any additional cash payments or delivery of common stock to the financial institutions upon settlement. On December 3, 2021, we entered into an ASR agreement with a financial institution (2021 ASR) to repurchase $300.0 million of our outstanding common stock. The 2021 ASR settled during the three months ended March 31, 2022 and we received an additional delivery of 2,163,219 shares of our common stock. Share-based Compensation Expense Total share-based compensation expense recorded for employees and non-employees is as follows (in thousands):
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Cost of revenues | $ | 623 |  |  | $ | 362 |  |  |  |  |
Research and development | 11,776 |  |  | 7,959 |  |  |  |  |
Sales and marketing | 4,386 |  |  | 2,919 |  |  |  |  |
General and administrative | 16,299 |  |  | 11,860 |  |  |  |  |
Total share-based compensation expense | $ | 33,084 |  |  | $ | 23,100 |  |  |  |  |
During the three months ended March 31, 2022 and 2021, we capitalized share-based compensation expense of $1.8 million and $0.5 million, respectively. RSU and PSU Activity Activity for RSUs and PSUs is as follows:
| RSUs and PSUs Outstanding
| Shares Outstanding |  | Weighted Average Grant Date Fair Value
Balance at December 31, 2021 | 8,171,462 |  |  | $ | 46.36 |
Granted | 2,472,933 |  |  | 33.21 |
Released | (642,952) |  |  | 68.70 |
Forfeited | (598,243) |  |  | 44.26 |
Balance at March 31, 2022 | 9,403,200 |  |  | $ | 41.51 |
As of March 31, 2022, our total unrecognized share-based compensation expense related to RSUs and PSUs was approximately $296.1 million, which will be recognized over the remaining weighted-average vesting period of approximately 2.5 years.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration