Stockholders' Equity (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Summary of Stock Option Award Activity |
The following table summarizes the stock option award activity under the Stock Plans during the year ended December 31, 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 |
|
|
(3,291 |
) |
|
|
(1,389 |
) |
|
$ |
3.53 |
|
|
|
— |
|
|
$ |
— |
|
|
Forfeited |
|
|
(1,437 |
) |
|
|
(30 |
) |
|
$ |
13.87 |
|
|
|
— |
|
|
$ |
— |
|
|
Outstanding at December 31, 2019 |
|
|
8,712 |
|
|
|
1,550 |
|
|
$ |
9.00 |
|
|
|
5.59 |
|
|
$ |
75,460 |
|
|
Exercisable at December 31, 2019 |
|
|
6,053 |
|
|
|
1,550 |
|
|
$ |
8.00 |
|
|
|
4.65 |
|
|
$ |
63,445 |
|
|
Vested and expected to vest at December 31, 2019 |
|
|
8,508 |
|
|
|
1,550 |
|
|
$ |
8.91 |
|
|
|
5.54 |
|
|
$ |
74,825 |
|
|
(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 December 31, 2019, respectively. |
|
| Summary of Total Stock-based Compensation Expense |
Total stock-based compensation expense by function was as follows:
|
|
Year Ended December 31, |
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
|
(in thousands) |
|
|
Cost of revenue |
$ |
6,365 |
|
|
$ |
4,393 |
|
|
$ |
26,071 |
|
|
Research and development |
|
464,639 |
|
|
|
340,533 |
|
|
|
1,154,430 |
|
|
Sales and marketing |
|
93,355 |
|
|
|
84,059 |
|
|
|
236,474 |
|
|
General and administrative |
|
121,654 |
|
|
|
109,226 |
|
|
|
1,222,920 |
|
|
Total |
$ |
686,013 |
|
|
$ |
538,211 |
|
|
$ |
2,639,895 |
|
|
| Restricted Stock Units |
|
| Summary of RSU and RSA Award Activity |
The following table summarizes the RSU award activity during the year ended December 31, 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 |
|
|
89,582 |
|
|
|
— |
|
|
$ |
11.00 |
|
|
Vested |
|
|
(76,983 |
) |
|
|
(490 |
) |
|
$ |
12.10 |
|
|
Forfeited |
|
|
(21,622 |
) |
|
|
(2 |
) |
|
$ |
13.15 |
|
|
Unvested at December 31, 2019 |
|
|
140,615 |
|
|
|
— |
|
|
$ |
12.57 |
|
|
| Restricted Stock Awards |
|
| Summary of RSU and RSA Award Activity |
The following table summarizes the RSA activity during the year ended December 31, 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 |
|
|
|
|
(2,778 |
) |
|
$ |
9.90 |
|
|
Forfeited |
|
|
|
|
(1,149 |
) |
|
$ |
5.85 |
|
|
Unvested at December 31, 2019 |
|
|
|
|
8,182 |
|
|
$ |
9.42 |
|
|