Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock option activity under our equity plans

A summary of stock option activity under our equity plans for the six months ended June 30, 2021 follows: 





Number of Shares

 



Weighted Average Exercise Price

 



Weighted Average Remaining Contractual Term (Years)

 



Aggregate Intrinsic Value

 

Balance, December 31, 2020



 

11,008,533

 



$

13.94

 



 

8.4

 



$

105,341,482

 

Granted



 

37,500

 

 

$

45.41

 



 

 



 

 

Exercised



 

(363,064

)

 

$

3.28

 



 

 



$

15,744,316

 

Balance, March 31, 2021



 

10,682,969

 



$

14.41

 



 

8.0

 



$

249,345,242

 

Granted



 

-

 



 

 



 

 



 

 

Exercised

 

 

(200,532

)

 

$

3.39

 

 

 

 

 

$

5,616,689

 

Balance, June 30, 2021



 

10,482,437

 



$

14.62

 



 

 



$

109,293,775

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, June 30, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable



 

4,791,353

 



$

4.67

 



5.9

 



$

97,647,774

 

Vested and expected to vest



 

10,482,437

 



$

14.62

 



 

8.0

 



$

109,293,775

 

Schedule of option award on the date of grant using the Black-Scholes option We have estimated the fair values of our option awards on the date of grant using the Black-Scholes option pricing model with the following assumptions:





Three and Six Months Ended June 30, 2021

Expected annual dividend yield (1)



0.00%

Expected volatility (2)



41.50%

Risk-free rate (3)



1.05%

Expected option term (years) (4)



6

 

(1)

We have not paid and do not currently anticipate paying a cash dividend on our common stock.

(2)

We estimated the expected volatility using the mean stock price for selected peer public companies over a historic timeframe similar to the expected term.

(3)

We estimated the risk-free rate of return using the U.S. Treasury yield curve in effect as of the valuation date.

(4)

We estimated the expected term using the “simplified” method described in SEC Staff Accounting Bulletin 14.