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Subsequent Events | 12 Months Ended
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Dec. 31, 2020
Subsequent Events [Abstract] |
Subsequent Events |
(1 5 ) | Subsequent Events
On January 7, 2021, the Company acquired all of the outstanding stock of privately held NimbeLink Corp., or NimbeLink, for approximately $15.0 million, subject to working capital and other customary adjustments. In addition to the cash price, the Company assumed unvested common stock options of continuing employees and service providers. NimbeLink’s former equity-holders have the potential to earn a one-time payment of up to an additional $8.0 million in cash based on the achievement of certain revenue targets for the NimbeLink business in 2021. On February 5, 2021, the Company’s board of directors approved the 2021 Employment Inducement Incentive Award Plan (the Inducement Plan) which allows for the Company to issue up to 300,000 shares of common stock. On February 5, 2021, the Company granted inducement awards under the Inducement Plan. The inducement awards consisted of options to purchase an aggregate of 125,000 shares of Company common stock. The options have a 10-year term and an exercise price equal to $24.22. The options vest over a four-year period with 25% of the options vesting on the first anniversary of employment and the rest vesting in equal monthly installments thereafter. On February 18, 2021, the Company announced the retirement of its Senior Vice President of Engineering effective May 7, 2021.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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