v3.22.2.2
Employee benefit plans (Tables)
 9 Months Ended
Sep. 30, 2022
Share-based Payment Arrangement [Abstract]  
schedule of share-based compensation, Performance Stock Units Award Activity [Table Text Block]
A summary of the Company’s PSU activity for the nine months ended September 30, 2022 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 20211,134 

$6.68 
Granted604 8.70 
Vested(620)6.55 
Forfeited(36)6.76 
Non-vested shares at September 30, 20221,082 $7.88 
Schedule of Share-based Compensation, Stock Options, Activity
A summary of the Company’s stock option activity for the nine months ended September 30, 2022 is as follows:
Shares
(in thousands)
Weighted-average exercise price
Weighted-average remaining contractual term (in years)
Aggregate intrinsic value (in thousands)
Outstanding at December 31, 20213,080 $9.18 5.92$8,735 
Granted321 8.70 
Exercised(44)4.70 
Forfeited/Cancelled(189)6.67 
Outstanding at September 30, 20223,168 $9.34 5.42$463 
Vested and expected to vest at September 30, 20223,168 $9.34 5.42$463 
Exercisable at September 30, 20222,447 $10.05 4.55$259 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the Company’s RSU activity for the nine months ended September 30, 2022 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 20218,714 $6.52 
Granted4,452 8.30 
Vested(4,116)6.27 
Forfeited(855)6.51 
Non-vested shares at September 30, 20228,195 $7.62 
Allocation of Stock-based Compensation Expense The Company measures compensation expense for all stock-based payment awards based on the estimated fair values on the date of the grant. The fair value of stock options granted and ESPP issuance is estimated using the Black-Scholes option pricing model. The fair value of RSUs and PSUs are determined using the Company’s closing stock price on the date of grant. There have been no significant changes in the Company’s valuation assumptions from those disclosed in its 2021 Annual Report.
The following table summarizes stock-based compensation expense included in the Condensed Consolidated Statements of Operations:
Three months ended September 30,Nine months ended September 30,
(in thousands)
2022202120222021
Cost of revenue
$441 $483 $1,371 $1,420 
Research and development
4,395 4,380 12,958 13,131 
Sales and marketing
1,819 1,950 6,171 5,968 
General and administrative
2,684 2,516 8,926 7,708 
Total stock-based compensation expense$9,339 $9,329 $29,426 $28,227 
Class of Treasury Stock
(in thousands, except per share data)Three months ended September 30, 2022Nine months ended September 30, 2022
Shares repurchased1,540 4,462 
Average price per share$6.40 $7.09 
Value of shares repurchased$9,856 $31,618