Quarterly report pursuant to Section 13 or 15(d)

Stock Plans (Tables)

v3.22.2.2
Stock Plans (Tables)
9 Months Ended
Sep. 30, 2022
Schedule of Stock-based Compensation Expense

The Company’s stock-based compensation expense by type of award and by operating expense grouping are presented below:

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Stock-based compensation expense by type of award:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

$

3,509

 

 

$

4,264

 

 

$

9,999

 

 

$

14,014

 

Stock awards

 

 

 

 

 

 

 

 

 

 

 

19

 

Performance-based stock options

 

 

 

 

 

 

 

 

 

 

 

16,314

 

Stock options

 

 

1,226

 

 

 

791

 

 

 

4,001

 

 

 

2,426

 

Employee stock purchase plan

 

 

367

 

 

 

86

 

 

 

540

 

 

 

337

 

Common stock issued for services

 

 

 

 

 

131

 

 

 

39

 

 

 

381

 

Total

 

$

5,102

 

 

$

5,272

 

 

$

14,579

 

 

$

33,491

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation expense by operating expense grouping:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

46

 

 

$

 

 

$

90

 

 

$

 

Sales and marketing

 

 

538

 

 

 

226

 

 

 

1,728

 

 

 

1,358

 

Research and development

 

 

1,532

 

 

 

431

 

 

 

3,783

 

 

 

2,016

 

General and administrative

 

 

2,986

 

 

 

4,615

 

 

 

8,978

 

 

 

30,117

 

 

 

$

5,102

 

 

$

5,272

 

 

$

14,579

 

 

$

33,491

 

 

Schedule of Restricted Stock Unit Activity

The Company’s restricted stock unit activity for the nine months ended September 30, 2022 was as follows:

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average Grant

 

 

 

Shares

 

 

Date Fair Value

 

Unvested at December 31, 2021

 

 

886,461

 

 

$

32.56

 

Granted

 

 

766,935

 

 

$

13.18

 

Forfeited

 

 

(40,500

)

 

$

24.88

 

Vested

 

 

(511,719

)

 

$

37.38

 

Unvested at September 30, 2022

 

 

1,101,177

 

 

$

15.60

 

 

Schedule of Stock Option Activity

The activity during the nine months ended September 30, 2022 related to all other stock options was as follows:

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

Options

 

 

Price

 

 

Term

 

 

Value

 

Outstanding at December 31, 2021

 

 

5,508,608

 

 

$

15.10

 

 

 

 

 

 

 

Granted

 

 

630,467

 

 

$

11.50

 

 

 

 

 

 

 

Exercised

 

 

(49,343

)

 

$

5.91

 

 

 

 

 

 

 

Forfeited

 

 

(190,212

)

 

$

19.44

 

 

 

 

 

 

 

Expired

 

 

(41,776

)

 

$

15.45

 

 

 

 

 

 

 

Outstanding at September 30, 2022

 

 

5,857,744

 

 

$

14.69

 

 

 

6.0

 

 

$

1,464

 

Exercisable at September 30, 2022

 

 

4,504,070

 

 

$

14.03

 

 

 

5.1

 

 

$

1,049

 

Employee Stock Purchase Plan [Member]  
Summary of Fair Value Assumptions of Stock Purchase Plan

The assumptions used in calculating the fair values of purchase rights granted under the ESPP during the three months ended September 30, 2022 are set forth in the table below:

 

Expected term (in years)

 

0.5 - 2.0

 

Expected volatility

 

67% - 119%

 

Risk-free interest rate

 

0.1% - 3.0%

 

Expected dividend yield

 

 

 

Stock Options [Member]  
Schedule of Fair Value Assumptions The following assumptions were used to compute the grant date fair values of the stock options granted during the nine months ended September 30, 2022:

Expected term (in years)

 

5.5 - 6.1

 

Expected volatility

 

82% - 92%

 

Risk-free interest rate

 

1.7% - 3.5%

 

Expected dividend yield

 

 

 

Performance-based Stock Options [Member]  
Schedule of Stock Option Activity

The activity during the nine months ended September 30, 2022 related to stock options that are subject to performance-based vesting conditions tied to the achievement of stock price goals by the Company was as follows:

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

 

Options

 

 

Price

 

 

Term

 

 

Value

 

Outstanding at December 31, 2021

 

 

3,834,441

 

 

$

11.05

 

 

 

 

 

 

 

Exercised

 

 

(40,916

)

 

$

5.61

 

 

 

 

 

 

 

Expired

 

 

(14,243

)

 

$

5.30

 

 

 

 

 

 

 

Outstanding at September 30, 2022

 

 

3,779,282

 

 

$

11.13

 

 

 

5.8

 

 

$

2

 

Exercisable at September 30, 2022

 

 

3,779,282

 

 

$

11.13

 

 

 

5.8

 

 

$

2