STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| STOCK-BASED COMPENSATION |
|
| Schedule of stock-based compensation related to all of the entity's share-based payments |
Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):
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Year Ended December 31, |
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|
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2021 |
|
2020 |
|
2019 |
|
Selling, general and administrative |
|
$ |
7,337 |
|
$ |
5,223 |
|
$ |
6,453 |
|
Research and development |
|
|
1,700 |
|
|
2,072 |
|
|
2,662 |
|
Restructuring charges |
|
|
449 |
|
|
— |
|
|
— |
|
Total stock-based compensation expense |
|
$ |
9,486 |
|
$ |
7,295 |
|
$ |
9,115 |
|
|
| Summary of weighted-average assumptions relating to options granted pursuant to equity incentive plans |
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Year Ended December 31, |
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|
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2021 |
|
2020 |
|
2019 |
|
Risk-free interest rate |
|
1.0 |
% |
1.2 |
% |
2.4 |
% |
Expected term (in years) |
|
6.4 |
|
6.5 |
|
6.5 |
|
Dividend yield |
|
0.0 |
% |
0.0 |
% |
0.0 |
% |
Expected volatility |
|
70.5 |
% |
66.1 |
% |
65.5 |
% |
|
| Schedule of option activity under equity incentive plans |
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Stock Options |
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Restricted Stock Units |
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Weighted |
|
Weighted |
|
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|
Weighted Average |
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|
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Shares Available |
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Number of |
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Average |
|
Intrinsic Value |
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Number of |
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Grant Date |
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|
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For Grant |
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Shares |
|
Exercise Price |
|
(in thousands) |
|
Shares |
|
Fair Value |
|
Outstanding as of December 31, 2020 |
|
14,218,190 |
|
27,260,463 |
|
$ |
3.05 |
|
|
|
|
— |
|
$ |
— |
|
Authorized for grant |
|
825,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
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(7,231,731) |
|
6,997,981 |
|
$ |
3.65 |
|
|
|
|
233,750 |
|
$ |
3.67 |
|
Exercised |
|
— |
|
(1,353,426) |
|
$ |
2.49 |
|
|
|
|
— |
|
$ |
— |
|
Cancelled and forfeited |
|
2,903,853 |
|
(2,896,353) |
|
$ |
3.95 |
|
|
|
|
(7,500) |
|
$ |
3.68 |
|
Outstanding as of December 31, 2021 |
|
10,715,312 |
|
30,008,665 |
|
$ |
3.13 |
|
$ |
6,812 |
|
226,250 |
|
$ |
3.67 |
|
Vested and Expected to Vest as of December 31, 2021 |
|
|
|
28,017,415 |
|
$ |
3.13 |
|
$ |
6,611 |
|
|
|
|
|
|
Exercisable as of December 31, 2021 |
|
|
|
19,647,126 |
|
|
3.23 |
|
$ |
4,819 |
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| Schedule of stock options by exercise price |
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Options Outstanding |
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Options Exercisable |
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Weighted-Average |
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Number of |
|
Remaining Contractual |
|
Weighted-Average |
|
Number of |
|
Weighted-Average |
Exercise Price |
|
Shares |
|
Life (in years) |
|
Exercise Price |
|
Shares |
|
Exercise Price |
$1.75 - $2.00 |
|
4,530,317 |
|
6.86 |
|
$ |
1.95 |
|
3,062,689 |
|
$ |
1.95 |
$2.02 - $2.34 |
|
6,288,002 |
|
5.42 |
|
$ |
2.21 |
|
4,821,308 |
|
$ |
2.18 |
$2.37 - $2.64 |
|
4,256,738 |
|
7.63 |
|
$ |
2.45 |
|
1,939,507 |
|
$ |
2.45 |
$2.72 - $3.54 |
|
5,718,865 |
|
6.91 |
|
$ |
3.29 |
|
2,746,933 |
|
$ |
3.04 |
$3.55 - $3.85 |
|
4,209,804 |
|
5.83 |
|
$ |
3.66 |
|
2,445,879 |
|
$ |
3.65 |
$3.87 - $7.60 |
|
4,260,947 |
|
4.60 |
|
$ |
4.81 |
|
3,886,818 |
|
$ |
4.84 |
$8.02 - $8.85 |
|
743,992 |
|
0.07 |
|
$ |
8.16 |
|
743,992 |
|
$ |
8.16 |
$1.75 - $8.85 |
|
30,008,665 |
|
6.04 |
|
$ |
3.13 |
|
19,647,126 |
|
$ |
3.23 |
|
| Summary of weighted-average assumptions used to calculate fair value of purchase rights granted under Employee Stock Purchase Plan |
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|
Year Ended December 31, |
|
|
|
2021 |
|
2020 |
|
2019 |
|
Risk-free interest rate |
|
* |
|
1.0 |
% |
2.7 |
% |
Expected term (in years) |
|
* |
|
1.6 |
|
1.5 |
|
Dividend yield |
|
* |
|
0.0 |
% |
0.0 |
% |
Expected volatility |
|
* |
|
62.3 |
% |
62.6 |
% |
|