Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.10.0.1
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Restricted Stock Units Activity

A summary of the activity and related information of the restricted stock units issued during the nine months ended September 30, 2018 is presented below:

 

 

 

Restricted

Stock Units

 

 

Weighted

Average

Grant Date

Fair Value

 

Outstanding at December 31, 2017

 

 

 

 

$

 

Granted

 

 

1,340,832

 

 

 

28.94

 

Forfeited

 

 

(3,110

)

 

 

28.94

 

Outstanding at September 30, 2018

 

 

1,337,722

 

 

$

28.94

 

 

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 September 30,

 

 

Nine months

ended September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Selling, general and administrative

 

$

1,370

 

 

$

492

 

 

$

5,328

 

 

$

7,659

 

Research and development

 

 

83

 

 

 

77

 

 

 

992

 

 

 

3,181

 

Stock-based compensation in operating expenses

 

$

1,453

 

 

$

569

 

 

$

6,320

 

 

$

10,840

 

 

Communicated Option Awards [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Options Activity

A summary of the activity and related information of the Communicated Option Awards classified as liabilities and communicated during the nine months ended September 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 September 30, 2018

 

 

 

 

$

 

 

 

 

 

$

 

Exercisable at September 30, 2018

 

 

 

 

$

 

 

 

 

 

$

 

Vested and expected to vest at September 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 classified as liabilities 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 September 30,

 

 

Nine months

ended September 30,

 

 

 

2018

 

2017

 

 

2018

 

 

2017

 

Risk-free interest rate

 

N/A

 

 

1.44

%

 

 

2.49

%

 

 

1.44

%

Volatility

 

N/A

 

 

40.67

%

 

 

34.13

%

 

 

40.67

%

Expected dividend yield

 

N/A

 

 

0.00

%

 

 

0.00

%

 

 

0.00

%

Expected life

 

N/A

 

 

2.9

 

 

 

2.9

 

 

 

2.9

 

 

Stock Options [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Options Activity

A summary of the activity and related information of the stock options issued during the nine months ended September 30, 2018 is presented below:

 

 

 

Stock

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life

(in years)

 

 

Aggregate

Intrinsic

Value

(in thousands)

 

Outstanding at December 31, 2017

 

 

 

 

$

 

 

 

 

 

$

 

Granted

 

 

1,901,900

 

 

 

28.94

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(9,900

)

 

 

28.94

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2018

 

 

1,892,000

 

 

$

28.94

 

 

 

9.6

 

 

$

 

Exercisable at September 30, 2018

 

 

 

 

$

 

 

 

 

 

$

 

Vested and expected to vest at September 30, 2018

 

 

1,892,000

 

 

$

28.94

 

 

 

9.6

 

 

$

 

 

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

The fair value of the stock options issued 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 September 30, 2018

 

 

Nine months

ended September 30, 2018

 

Risk-free interest rate

 

N/A

%

 

 

2.84

%

Volatility

 

N/A

%

 

 

42.18

%

Expected dividend yield

 

N/A

%

 

 

0.00

%

Expected life

 

N/A

 

 

 

6