v3.24.3
Stock Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Valuation Assumptions Used for Valuation of Fair Value of Stock Compensation Granted
We utilized the Black-Scholes valuation model for estimating the fair value of the stock compensation granted, with the following weighted-average assumptions:
Employee Stock OptionsEmployee Stock Purchase Plan
For the Three Months EndedFor the Nine Months EndedFor the Three Months EndedFor the Nine Months Ended
September 30,September 30,
20242023202420232024202320242023
Average risk-free interest rates4.18 %4.17 %4.15 %3.95 %4.38 %5.03 %4.96 %4.50 %
Average expected life (in years)5.175.165.025.050.500.500.500.50
Volatility29 %32 %30 %32 %28 %24 %24 %22 %
Weighted-average fair value (in dollars)$21.54 $22.32 $21.02 $24.68 $12.11 $15.36 $11.27 $14.72 
Schedule of Option Activity Under the 2010 Stock Plan
Option activity under our 2010 Stock Plan and 2024 Inducement Plan was as follows:
Shares Subject to
Outstanding Options
SharesWeighted Average
Exercise Price
Balance at December 31, 202312,457,158$85.40 
Options granted1,320,585$62.42 
Options exercised(58,614)$57.75 
Options cancelled(472,808)$87.31 
Balance at September 30, 202413,246,321$83.16 
Schedule of RSU Award and PSU Activity Under the 2010 Stock Plan
RSU and PSU award activity under the 2010 Stock Plan and 2024 Inducement Plan was as follows:
Shares Subject to
Outstanding Awards
SharesGrant Date Value
Balance at December 31, 20237,165,342$72.17 
RSUs granted 3,392,462$63.77 
PSUs granted321,582$65.40 
Additional PSUs earned21,866$83.58 
RSUs released(1,859,539)$75.70 
PSUs released(105,453)$83.58 
RSUs cancelled (244,641)$69.91 
PSUs cancelled(7,795)$83.58 
Balance at September 30, 20248,683,824$67.79 
Schedule of Shares Available for Grant
The following table summarizes our shares available for grant under the 2010 Stock Plan and 2024 Inducement Plan. Each RSU and PSU grant reduces the available share pool by 2 shares.
Shares Available
for Grant
Balance at December 31, 202310,815,026
Additional authorization - 2024 Inducement Plan1,000,000
Options, RSUs and PSUs granted(8,792,405)
Options, RSUs and PSUs cancelled977,680
Balance at September 30, 20244,000,301