XML 43 R31.htm IDEA: XBRL DOCUMENT
v3.23.3

Share-Based Compensation (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Shares Available for Grant | The following table summarizes the shares available for grant under the 2018 Plan:
| Shares Available for Grant
Balance - December 31, 2022 | 7,848,832 |
Authorized | 2,144,521 |
Granted | (2,172,448) |
Shares withheld to cover taxes | 26,016 |
Forfeited | 665,294 |
Balance - September 30, 2023 | 8,512,215 |
Schedule of Fair Value Assumptions | Following are the assumptions used in the Black-Scholes valuation model for options granted during the periods shown below:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Risk-free interest rate |  | N/A |  | N/A |  | 4.1% |  | 1.9%
Average expected term (years) |  | N/A |  | N/A |  | 7.0 |  | 7.0
Expected volatility |  | N/A |  | N/A |  | 55.3% |  | 55.0%
Dividend yield |  | N/A |  | N/A |  | — |  | —
Schedule of Stock Option Activity | The following table summarizes the Company’s stock option activity during the nine months ended September 30, 2023:
| Number of Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value (in thousands)(1)
Outstanding at December 31, 2022 | 3,999,933 |  |  | $ | 25.58 |  |  | 5.3 |  | $ | 20,712 |
Granted | 1,014,718 |  |  | $ | 17.84 |  |  | — |  | $ | — |
Exercised | (215,943) |  |  | $ | 0.79 |  |  | — |  | $ | 3,646 |
Canceled/Forfeited | (415,082) |  |  | $ | 36.76 |  |  | — |  | $ | — |
Outstanding at September 30, 2023 | 4,383,626 |  |  | $ | 23.95 |  |  | 5.6 |  | $ | 13,670 |
Vested and exercisable at September 30, 2023 | 3,056,564 |  |  | $ | 22.82 |  |  | 4.0 |  | $ | 13,670 |
Vested and expected to vest at September 30, 2023 | 4,214,949 |  |  | $ | 23.69 |  |  | 5.4 |  | $ | 13,670 |
__________ (1) Aggregate intrinsic value is calculated as the difference between the value of common stock on the transaction date and the exercise price multiplied by the number of shares issuable under the stock option. Aggregate intrinsic value of shares outstanding at the beginning and end of the reporting period is calculated as the difference between the value of common stock on the beginning and end dates, respectively, and the exercise price multiplied by the number of shares outstanding.
Schedule of RSU Activity | The following table summarizes the Company’s RSU activity during the nine months ended September 30, 2023:
|  | Number of Units |  | Weighted Average Grant Date Fair Value Per Unit
Unvested at December 31, 2022 |  | 993,313 |  |  | $ | 35.98 |
Granted |  | 1,157,730 |  |  | $ | 16.52 |
Vested(1) |  | (500,922) |  |  | $ | 30.74 |
Canceled/Forfeited |  | (250,212) |  |  | $ | 28.99 |
Unvested at September 30, 2023 |  | 1,399,909 |  |  | $ | 23.01 |
________ (1) Includes 26,016 shares of common stock that were withheld to cover taxes on the release of vested RSUs and became available for future grants pursuant to the 2018 Plan.

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

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration