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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Stock-Based Compensation Expense Related to Stock Options, PSUs, RSUs and Restricted Stock | The following table summarizes stock-based compensation expense related to stock options, PSUs, RSUs and restricted stock for the years ended December 31, 2021, 2020 and 2019:
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Stock-based compensation expense included in cost of revenue |  | $ | 543 |  |  | $ | 426 |  |  | $ | 369 |
Selling, general and administrative expenses |  |  | 4,571 |  |  |  | 4,036 |  |  |  | 3,889 |
Research and development expenses |  |  | 2,366 |  |  |  | 2,372 |  |  |  | 2,704 |
Stock-based compensation expense included in operating expenses |  |  | 6,937 |  |  |  | 6,408 |  |  |  | 6,593 |
Total stock-based compensation expense |  |  | 7,480 |  |  |  | 6,834 |  |  |  | 6,962 |
Tax benefit for expense associated with non-qualified stock options, PSUs, RSUs and restricted stock |  |  | (1,849 | ) |  |  | (1,629 | ) |  |  | (1,659 | )
Total stock-based compensation expense, net of tax |  | $ | 5,631 |  |  | $ | 5,205 |  |  | $ | 5,303 |
Summary of PSUs, RSUs and Restricted Stock Outstanding | The following table is a summary of our PSUs, RSUs and restricted stock outstanding as of December 31, 2020 and 2021 and the changes that occurred during 2021:
|  | Number of shares (In thousands) |  |  | Weighted Average Grant Date Fair Value |
Unvested PSUs, RSUs and restricted stock outstanding, December 31, 2020 |  |  | 1,846 |  |  | $ | 11.49 |
PSUs, RSUs and restricted stock granted |  |  | 748 |  |  | $ | 20.17 |
PSUs, RSUs and restricted stock vested |  |  | (552 | ) |  | $ | 13.67 |
PSUs, RSUs and restricted stock forfeited |  |  | (112 | ) |  | $ | 11.70 |
Unvested PSUs, RSUs and restricted stock outstanding, December 31, 2021 |  |  | 1,930 |  |  | $ | 14.11 |
Summary of Stock Options Outstanding | The following table is a summary of stock options outstanding as of December 31, 2021 and 2020 and the changes that occurred during 2021:
|  | Number of Options (In thousands) |  |  | Weighted Average Exercise Price (Per share) |  |  | Weighted Avg. Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value (In thousands) |
Stock options outstanding, December 31, 2020 |  |  | 2,718 |  |  | $ | 21.17 |  |  |  | 2.86 |  |  | $ | — |
Stock options granted |  |  | — |  |  | $ | — |  |  |  |  |  | $ | — |
Stock options exercised |  |  | (382 | ) |  | $ | 16.82 |  |  |  |  |  | $ | 1,491 |
Stock options forfeited |  |  | — |  |  | $ | — |  |  |  |  |  | $ | — |
Stock options expired |  |  | (615 | ) |  | $ | 28.89 |  |  |  |  |  | $ | 21 |
Stock options outstanding, December 31, 2021 |  |  | 1,721 |  |  | $ | 19.37 |  |  |  | 2.39 |  |  | $ | 6,669 |
Stock options exercisable, December 31, 2021 |  |  | 1,721 |  |  | $ | 19.37 |  |  |  | 2.39 |  |  | $ | 6,669 |
Stock Options Outstanding | The following table further describes our stock options outstanding as of December 31, 2021:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Options Outstanding at December 31, 2021 (In thousands) |  |  | Weighted Avg. Remaining Contractual Life in Years |  |  | Weighted Average Exercise Price |  |  | Options Exercisable at December 31, 2021 (In thousands) |  |  | Weighted Average Exercise Price |
$15.33 – $16.97 |  |  | 703 |  |  |  | 2.75 |  |  | $ | 15.89 |  |  |  | 703 |  |  | $ | 15.89 |
$16.98 – $18.97 |  |  | 463 |  |  |  | 2.77 |  |  | $ | 18.96 |  |  |  | 463 |  |  | $ | 18.96 |
$18.98 – $30.36 |  |  | 555 |  |  |  | 1.64 |  |  | $ | 24.12 |  |  |  | 555 |  |  | $ | 24.12 |
|  |  | 1,721 |  |  |  |  |  |  |  |  |  | 1,721 |  |  |  |
Market-Based PSUs [Member] |
Summary of Weighted-Average Assumptions and Value of Options Granted | The following table details the significant assumptions that impact the fair value estimate of the market-based PSUs:
|  | 2021 |  |  | 2020 |  |  | 2019
Estimated fair value per share |  | $26.07 |  |  | $14.43 |  |  | $9.53 to $18.05
Expected volatility |  |  | 53.27 | % |  |  | 51.88 | % |  | 32.7% to 38.9%
Risk-free interest rate |  |  | 0.85 | % |  |  | 0.24 | % |  | 1.6% to 2.46%
Expected dividend yield |  |  | 1.63 | % |  |  | 2.85 | % |  | 2.3% to 4.09%

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