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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Stock-Based Compensation Expense Related to Stock Options, RSUs and Restricted Stock

The following table summarizes the RSUs and restricted stock outstanding as of December 31, 2021 and September 30, 2022 and the changes that occurred during the nine months ended September 30, 2022:

 

 

 

Number of
Shares
(in thousands)

 

 

Weighted Avg. Grant Date Fair Value
(per share)

 

Unvested RSUs and restricted stock outstanding, December 31, 2021

 

 

1,930

 

 

$

14.11

 

RSUs and restricted stock granted

 

 

545

 

 

$

19.96

 

RSUs and restricted stock vested

 

 

(20

)

 

$

13.67

 

RSUs and restricted stock forfeited

 

 

(46

)

 

$

14.18

 

Unvested RSUs and restricted stock outstanding, September 30, 2022

 

 

2,409

 

 

$

17.36

 
Summary of Stock Options Outstanding

The following table summarizes ADTRAN Holdings, Inc. stock options outstanding as of December 31, 2021 and September 30, 2022 and the changes that occurred during the nine months ended September 30, 2022:

 

 

 

Number of
Stock Options
(in thousands)

 

 

Weighted Avg.
Exercise Price
(per share)

 

 

Weighted Avg.
Remaining
Contractual
Life
(in years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Stock options outstanding, December 31, 2021

 

 

1,721

 

 

$

19.37

 

 

 

2.4

 

 

$

6,669

 

ADVA stock options replaced by ADTRAN Holdings stock options(1)

 

 

1,980

 

 

$

11.16

 

 

 

 

 

 

 

Stock options exercised

 

 

(439

)

 

$

16.16

 

 

 

 

 

 

 

Stock options forfeited

 

 

(12

)

 

$

11.08

 

 

 

 

 

 

 

Stock options expired

 

 

(70

)

 

$

26.38

 

 

 

 

 

 

 

Stock options outstanding, September 30, 2022

 

 

3,180

 

 

$

14.58

 

 

 

3.5

 

 

$

17,839

 

Stock options exercisable, September 30, 2022

 

 

1,627

 

 

$

16.85

 

 

 

2.0

 

 

$

6,375

 

(1) Each ADVA stock option surrendered was exchanged for 0.8244 ADTRAN Holdings stock options.
ADVA Optical Networking SE [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Stock Options Outstanding

The following table summarizes ADVA Optical Networking SE stock options outstanding as of July 15, 2022 (the Business Combination closing date) and September 30, 2022 and the changes that occurred between July 15, 2022 and September 30, 2022:

 

 

 

Number of
Stock Options
(in thousands)

 

 

Weighted Avg.
Exercise Price
(per share)

 

 

Weighted Avg.
Remaining
Contractual
Life
(in years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Stock options outstanding, July 15, 2022

 

 

2,745

 

 

$

9.09

 

 

 

4.6

 

 

$

27,205

 

Stock options exercised

 

 

(56

)

 

$

6.79

 

 

 

 

 

 

 

ADVA stock options replaced by ADTRAN Holdings stock options(1)

 

 

(2,403

)

 

$

9.25

 

 

 

 

 

 

 

Stock options forfeited

 

 

(4

)

 

$

7.91

 

 

 

 

 

 

 

Stock options outstanding, September 30, 2022

 

 

282

 

 

$

8.45

 

 

 

3.9

 

 

$

2,976

 

Stock options exercisable, September 30, 2022

 

 

32

 

 

$

7.72

 

 

 

1.2

 

 

$

363

 

(1) Each ADVA stock option surrendered was exchanged for 0.8244 ADTRAN Holdings stock options.