Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.3
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2019
Schedule of Restricted Stock Units Activity

A summary of the activity and related information of the restricted stock units issued during the six months ended June 30, 2019 is presented below:

 

 

 

Restricted

Stock Units

 

 

Weighted

Average

Grant Date

Fair Value

 

Outstanding at December 31, 2018

 

 

1,494,111

 

 

$

26.91

 

Granted

 

 

285,317

 

 

 

4.06

 

Vested and Released

 

 

(522,493

)

 

 

28.94

 

Forfeited

 

 

(19,040

)

 

 

9.35

 

Outstanding at June 30, 2019

 

 

1,237,895

 

 

$

21.20

 

Schedule of Stock-based Compensation Expense Recorded in Operating Expenses

Stock-based compensation expense recorded in operating expenses was as follows (in thousands):

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Selling, general and administrative

 

$

6,364

 

 

$

3,588

 

 

$

12,683

 

 

$

3,958

 

Research and development

 

 

276

 

 

 

831

 

 

 

1,186

 

 

 

909

 

Stock-based compensation in operating expenses

 

$

6,640

 

 

$

4,419

 

 

$

13,869

 

 

$

4,867

 

Communicated Option Awards [Member]  
Schedule of Options Activity

A summary of the activity and related information of the Communicated Option Awards classified as liabilities and communicated during the six months ended June 30, 2018, is presented below:

 

 

 

Liability-

Classified

Awards

(in shares)

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life

(in years)

 

 

Aggregate

Intrinsic

Value

(in thousands)

 

Outstanding at December 31, 2017

 

 

933,500

 

 

$

3.92

 

 

 

3.57

 

 

$

19,676

 

Granted

 

 

170,000

 

 

 

25.00

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(67,000

)

 

 

5.33

 

 

 

 

 

 

 

 

 

Cancelled and settled with Replacement Awards

 

 

(1,036,500

)

 

 

7.29

 

 

 

 

 

 

 

22,442

 

Outstanding at June 30, 2018

 

 

 

 

$

 

 

 

 

 

$

 

Exercisable at June 30, 2018

 

 

 

 

$

 

 

 

 

 

$

 

Vested and expected to vest at June 30, 2018

 

 

 

 

$

 

 

 

 

 

$

 

Schedule of Fair Value of Options Using the Black Scholes Option Pricing Model and Assumptions Used

The fair value of the Communicated Option Awards was estimated using the Black Scholes option pricing model and the assumptions used in the model are noted in the following table:

 

 

 

Six Months Ended

June 30,

 

 

 

2018

 

Risk-free interest rate

 

 

2.49

%

Volatility

 

 

34.13

%

Expected dividend yield

 

 

0.00

%

Expected life

 

 

2.9

 

Stock Options [Member]  
Schedule of Options Activity

A summary of the activity and related information of the stock options issued during the six months ended June 30, 2019 is presented below:

 

 

 

Stock

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life

(in years)

 

 

Aggregate

Intrinsic

Value

(in thousands)

 

Outstanding at December 31, 2018

 

 

1,920,100

 

 

$

28.59

 

 

 

9.43

 

 

$

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(27,900

)

 

 

14.03

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2019

 

 

1,892,200

 

 

$

28.81

 

 

 

8.93

 

 

$

 

Exercisable at June 30, 2019

 

 

686,212

 

 

$

28.94

 

 

 

8.93

 

 

$

 

Vested and expected to vest at June 30, 2019

 

 

1,892,200

 

 

$

28.81

 

 

 

8.93

 

 

$

 

Schedule of Fair Value of Options Using the Black Scholes Option Pricing Model and Assumptions Used

The fair value of the stock options issued under the Compensation Plan was estimated using the Black Scholes option pricing model and the weighted-average assumptions used in the model are noted in the following table:

 

 

 

Three Months

Ended

June 30,

 

 

Six Months

Ended

June 30,

 

 

 

2018

 

 

2018

 

Risk-free interest rate

 

 

2.84

%

 

 

2.84

%

Volatility

 

 

42.18

%

 

 

42.18

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Expected life

 

 

6.0

 

 

 

6.0