Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Summary of stock option activity
The following table summarizes the activity for all stock options under all of the Company’s equity incentive plans for the nine months ended September 30, 2019 (shares and aggregate intrinsic value in thousands):
 
 
Number of Options
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Life
 
Aggregate Intrinsic Value
Outstanding at December 31, 2018
 
13,590

 
$
6.07

 
6.63
 
$
66,462

Granted
 
1,354

 
15.45

 

 

Exercised
 
(3,288
)
 
5.47

 

 

Cancelled
 
(449
)
 
7.50

 

 

Outstanding at September 30, 2019
 
11,207

 
$
7.32

 
6.80
 
$
105,768

 
 
 
 
 
 
 
 
 
Options vested and exercisable at September 30, 2019
 
7,102

 
$
6.16

 
5.91
 
$
74,882


Summary of activity for all restricted stock units (RSUs)
The following table summarizes the activity for all restricted stock units (“RSUs”) under all of the Company’s equity incentive plans for the nine months ended September 30, 2019 (shares in thousands):
 
 
Number of Awards
 
Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2018
 
4,182

 
$
7.05

Granted
 
2,094

 
15.31

Issued
 
(901
)
 
6.84

Cancelled / forfeited
 
(1,120
)
 
8.05

Unvested balance at September 30, 2019
 
4,255

 
$
10.90


Summary of stock-based compensation expense
The Company recognized stock-based compensation expense, including ESPP expenses, in the consolidated statements of operations as follows (in thousands):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Cost of customer agreements and incentives
 
$
594

 
$
648

 
$
1,849

 
$
1,926

Cost of solar energy systems and product sales
 
209

 
188

 
566

 
545

Sales and marketing
 
1,352

 
1,102

 
3,782

 
6,086

Research and development
 
404

 
313

 
1,149

 
918

General and administration
 
4,295

 
3,490

 
12,074

 
12,507

Total
 
$
6,854

 
$
5,741

 
$
19,420

 
$
21,982