Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plans (Tables)

v3.21.1
Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Fair Value of Stock Option Grants Valuation Assumptions by Block-Scholes Option Pricing Model

The fair value of stock option grants is set forth below and was determined using the Black-Scholes option pricing model with the following assumptions:

 

 

 

Year Ended December 31,

 

 

2020

 

2019

 

2018

Fair value of common stock

 

$23.49-$34.07

 

$20.07-$44.95

 

$23.72-$47.39

Expected term (in years)

 

6

 

6

 

6

Risk-free interest rate

 

0.36%-0.83%

 

1.71%-2.49%

 

2.60%-3.00%

Expected volatility

 

64%-68%

 

64%-67%

 

64%-67%

Expected dividend yield

 

 

 

Schedule of Stock Option Activity

A summary of stock option activities during 2020, 2019 and 2018 is as follows:

 

 

 

Number

of Options

Outstanding

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Grant Date Fair Value per Option

 

 

Aggregate Intrinsic Value Exercised (in thousands)

 

Outstanding at December 31, 2017

 

 

1,294,128

 

 

$

1.79

 

 

 

 

 

 

 

 

 

Granted

 

 

157,078

 

 

$

33.70

 

 

$

20.59

 

 

 

 

 

Exercised

 

 

(609,985

)

 

$

0.90

 

 

 

 

 

 

$

12,574

 

Canceled

 

 

(21,035

)

 

$

6.78

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

 

820,186

 

 

$

8.44

 

 

 

 

 

 

 

 

 

Granted

 

 

138,200

 

 

$

35.76

 

 

$

21.86

 

 

 

 

 

Exercised

 

 

(307,365

)

 

$

1.47

 

 

 

 

 

 

$

12,117

 

Canceled

 

 

(33,528

)

 

$

24.80

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2019

 

 

617,493

 

 

$

17.13

 

 

 

 

 

 

 

 

 

Granted

 

 

347,095

 

 

$

32.14

 

 

$

19.15

 

 

 

 

 

Exercised

 

 

(96,456

)

 

$

3.25

 

 

 

 

 

 

$

2,257

 

Canceled

 

 

(54,890

)

 

$

26.07

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2020

 

 

813,242

 

 

$

24.58

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Additional Information for Stock Options

 

Additional information for stock options at December 31, 2020 were as follows:

 

 

Number

of Options

 

 

Weighted

Average

Exercise

Price

 

 

Aggregate Intrinsic Value (in thousands)

 

 

Weighted

Average

Remaining Contractual term (in years)

 

Outstanding at December 31, 2020

 

813,242

 

 

 

24.58

 

 

$

11,445

 

 

7.69

 

Exercisable at December 31, 2020

 

391,438

 

 

 

16.22

 

 

$

8,779

 

 

 

6.29

 

 

Schedule of Unvested Restricted Stock Units Awards Activity

The following table summarizes the activity of RSU awards:

 

 

Number

of Restricted Stock Units

 

 

Weighted

Average

Grant Date Fair Value per RSU

 

 

Aggregate Fair Value of RSUs Vested (in thousands)

 

Unvested RSUs at December 31, 2017

 

 

47,312

 

 

$

11.85

 

 

 

 

 

Granted

 

 

110,764

 

 

$

19.58

 

 

 

 

 

Vested

 

 

(47,312

)

 

$

11.85

 

 

$

1,346

 

Unvested RSUs at December 31, 2018

 

 

110,764

 

 

$

19.58

 

 

 

 

 

Granted

 

 

62,382

 

 

$

44.05

 

 

 

 

 

Vested

 

 

(58,150

)

 

$

24.75

 

 

$

2,610

 

Unvested RSUs at December 31, 2019

 

 

114,996

 

 

$

30.24

 

 

 

 

 

Granted

 

 

91,759

 

 

$

31.75

 

 

 

 

 

Vested

 

 

(54,970

)

 

$

32.12

 

 

$

1,766

 

Forfeited

 

 

(10,277

)

 

$

41.50

 

 

 

 

 

Unvested RSUs at December 31, 2020

 

 

141,508

 

 

$

29.67

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Stock-Based Compensation Expense Recorded in Consolidated Statements of Operations

Total stock-based compensation expense is recorded in the consolidated statements of operations and was allocated as follows (in thousands):

 

 

 

 

Year Ended December 31,

 

 

 

 

2020

 

 

2019

 

 

2018

 

Cost of revenues

 

 

$

1,093

 

 

$

670

 

 

$

316

 

Sales and marketing

 

 

 

1,268

 

 

 

955

 

 

 

770

 

Research and development

 

 

 

580

 

 

 

365

 

 

 

272

 

General and administrative

 

 

 

1,521

 

 

 

1,067

 

 

 

1,110

 

Total

 

 

$

4,462

 

 

$

3,057

 

 

$

2,468

 

2017 Equity Incentive Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Activity of Shares Available for Grant

The following table summarizes the activity of shares available for grant under the 2017 Equity Incentive Plan:

 

Shares available for grant at December 31, 2019

 

 

1,632,636

 

Increase in accordance with the evergreen provision

 

 

565,707

 

Options issued during the year

 

 

(347,095

)

Canceled during the year

 

 

54,890

 

RSUs granted

 

 

(91,759

)

Shares available for grant at December 31, 2020

 

 

1,814,379

 

2017 Employee Stock Purchase Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Activity of Shares Available for Grant

The following table summarizes the activity of shares available under the 2017 ESPP:

 

Shares available for grant at December 31, 2019

 

 

316,623

 

Increase in accordance with the evergreen provision

 

 

150,000

 

Issued during the year

 

 

(37,102

)

Shares available for grant at December 31, 2020

 

 

429,521