Stockholders' Equity (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Summary of Stock Option Award Activity |
The following table summarizes the stock option award activity under the Stock Plans during the nine months ended September 30, 2019:
|
|
|
Class A
Number
of Shares |
|
|
Class B
Number
of Shares |
|
|
Weighted-
Average
Exercise
Price |
|
|
Weighted-
Average
Remaining
Contractual
Term
(in years) |
|
|
Aggregate
Intrinsic
Value(1) |
|
|
|
|
(in thousands, except per share data) |
|
|
Outstanding at December 31, 2018 |
|
|
13,322 |
|
|
|
2,969 |
|
|
$ |
7.83 |
|
|
|
6.41 |
|
|
$ |
34,567 |
|
|
Granted |
|
|
118 |
|
|
|
— |
|
|
$ |
14.69 |
|
|
|
— |
|
|
$ |
— |
|
|
Exercised |
|
|
(3,024 |
) |
|
|
(1,162 |
) |
|
$ |
3.52 |
|
|
|
— |
|
|
$ |
— |
|
|
Forfeited |
|
|
(1,302 |
) |
|
|
(29 |
) |
|
$ |
13.88 |
|
|
|
— |
|
|
$ |
— |
|
|
Outstanding at September 30, 2019 |
|
|
9,114 |
|
|
|
1,778 |
|
|
$ |
8.82 |
|
|
|
5.80 |
|
|
$ |
76,421 |
|
|
(1) |
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our Class A common stock as of December 31, 2018 and September 30, 2019, respectively. |
|
| Summary of Total Stock-based Compensation Expense |
Total stock-based compensation expense by function was as follows:
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
|
(in thousands) |
|
|
Cost of revenue |
$ |
1,332 |
|
|
$ |
1,368 |
|
|
$ |
4,967 |
|
|
$ |
3,111 |
|
|
Research and development |
|
108,176 |
|
|
|
95,329 |
|
|
|
353,028 |
|
|
|
265,447 |
|
|
Sales and marketing |
|
23,333 |
|
|
|
25,082 |
|
|
|
67,567 |
|
|
|
63,264 |
|
|
General and administrative |
|
28,387 |
|
|
|
5,030 |
|
|
|
93,796 |
|
|
|
84,617 |
|
|
Total |
$ |
161,228 |
|
|
$ |
126,809 |
|
|
$ |
519,358 |
|
|
$ |
416,439 |
|
|
| Restricted Stock Units |
|
| Summary of RSU and RSA Award Activity |
Restricted Stock Units
The following table summarizes the RSU activity during the nine months ended September 30, 2019:
|
|
|
Class A
Outstanding
RSUs |
|
|
Class B
Outstanding
RSUs |
|
|
Weighted-
Average
Grant Date
Fair Value
per RSU |
|
|
|
|
(in thousands, except per share data) |
|
|
Unvested at December 31, 2018 |
|
|
149,638 |
|
|
|
492 |
|
|
$ |
13.34 |
|
|
Granted |
|
|
81,560 |
|
|
|
— |
|
|
$ |
10.66 |
|
|
Vested |
|
|
(60,577 |
) |
|
|
(490 |
) |
|
$ |
11.76 |
|
|
Forfeited |
|
|
(19,431 |
) |
|
|
(2 |
) |
|
$ |
13.22 |
|
|
Unvested at September 30, 2019 |
|
|
151,190 |
|
|
|
— |
|
|
$ |
12.55 |
|
|
| Restricted Stock Awards |
|
| Summary of RSU and RSA Award Activity |
The following table summarizes the RSA activity during the nine months ended September 30, 2019:
|
|
|
|
|
Class A
Outstanding
RSAs |
|
|
Weighted-
Average
Grant Date
Fair Value
per RSA |
|
|
|
|
|
|
(in thousands, except per share data) |
|
|
Unvested at December 31, 2018 |
|
|
|
|
8,134 |
|
|
$ |
7.51 |
|
|
Granted |
|
|
|
|
3,975 |
|
|
$ |
12.61 |
|
|
Vested |
|
|
|
|
(2,160 |
) |
|
$ |
10.16 |
|
|
Forfeited |
|
|
|
|
(1,149 |
) |
|
$ |
5.85 |
|
|
Unvested at September 30, 2019 |
|
|
|
|
8,800 |
|
|
$ |
9.39 |
|
|