v3.20.2

Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2020
Stockholders' Equity Note [Abstract] |
Schedule of shares of common stock reserved for future issuance | As of September 30, 2020, there were 71,294,706 shares of common stock outstanding, and the Company had reserved a total of 26,355,976 of its authorized shares of common stock for future issuance as follows:
| Shares Reserved for Future Issuance
Outstanding restricted stock units | 3,431,829 |
Outstanding performance restricted stock units | 1,760,164 |
Outstanding stock options | 4,023,741 |
Reserved for convertible senior notes | 17,140,242 |
Total shares of common stock reserved for future issuance | 26,355,976 |
Schedule of stock-based compensation expense included in the consolidated statements of operations and comprehensive loss | The following table presents stock-based compensation expense related to the Stock Plans and the ESPP, contained on the following line items on the Company’s condensed consolidated statements of operations and comprehensive loss for each of the periods indicated.
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
| (in thousands) |  |  |  |  |  |
Curriculum and teaching | $ | 21 |  |  | $ | 30 |  |  | $ | 212 |  |  | $ | 38 |
Servicing and support | 3,409 |  |  | 2,626 |  |  | 10,979 |  |  | 6,129 |
Technology and content development | 3,059 |  |  | 2,228 |  |  | 9,164 |  |  | 5,732 |
Marketing and sales | 1,618 |  |  | 2,238 |  |  | 6,704 |  |  | 4,981 |
General and administrative | 13,894 |  |  | 9,413 |  |  | 36,903 |  |  | 19,206 |
Total stock-based compensation expense | $ | 22,001 |  |  | $ | 16,535 |  |  | $ | 63,962 |  |  | $ | 36,086 |
Schedule of restricted and performance restricted stock unit activity | The following table presents a summary of the Company’s RSU activity for the period indicated.
| Number of Units |  | Weighted- Average Grant Date Fair Value per Share
Outstanding balance as of December 31, 2019 | 2,281,142 |  |  | $ | 40.49 |
Granted | 1,911,308 |  |  | 20.66 |
Vested | (550,624) |  |  | 51.84 |
Forfeited | (209,997) |  |  | 30.17 |
Outstanding balance as of September 30, 2020 | 3,431,829 |  |  | $ | 28.25 |
The following table presents a summary of the Company’s PRSU activity for the period indicated.
| Number of Units |  | Weighted- Average Grant Date Fair Value per Share
Outstanding balance as of December 31, 2019 | 1,413,773 |  |  | $ | 28.12 |
Granted | 657,723 |  |  | 22.45 |
Vested | (38,748) |  |  | 22.38 |
Forfeited | (272,584) |  |  | 48.87 |
Outstanding balance as of September 30, 2020 | 1,760,164 |  |  | $ | 22.91 |
Schedule of stock option activity | The following table presents a summary of the Company’s stock option activity for the period indicated.
| Number of Options |  | Weighted-Average Exercise Price per Share |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding balance as of December 31, 2019 | 4,373,895 |  |  | $ | 34.24 |  |  | 5.88 |  | $ | 28,736 |
Granted | 8,597 |  |  | 19.61 |  |  |  |  |
Exercised | (277,375) |  |  | 11.26 |  |  |  |  |
Forfeited | (46,452) |  |  | 61.21 |  |  |  |  |
Expired | (34,924) |  |  | 43.72 |  |  |  |  |
Outstanding balance as of September 30, 2020 | 4,023,741 |  |  | 35.40 |  |  | 5.26 |  | 47,336 |
Exercisable as of September 30, 2020 | 3,202,271 |  |  | $ | 27.36 |  |  | 4.56 |  | $ | 46,521 |

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