Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
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 six months ended June 30, 2021 (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, 2020 8,019  $ 10.35  6.87 $ 473,371 
Granted 275  52.28 
Exercised (1,349) 8.69 
Cancelled (219) 17.91 
Outstanding at June 30, 2021 6,726  $ 12.23  6.53 $ 293,669 
Options vested and exercisable at June 30, 2021 4,385  $ 7.80  5.47 $ 210,495 
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 six months ended June 30, 2021 (shares in thousands):
Number of Awards Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2020 7,103  $ 40.17 
Granted 1,078  48.66 
Issued (2,175) 38.44 
Cancelled / forfeited (413) 29.83 
Unvested balance at June 30, 2021 5,593  $ 43.34 
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 June 30, Six Months Ended June 30,
2021 2020 2021 2020
Cost of customer agreements and incentives $ 1,992  $ 930  $ 4,224  $ 2,876 
Cost of solar energy systems and product sales
1,045  270  2,349  943 
Sales and marketing 23,227  1,821  50,333  5,299 
Research and development 803  466  1,479  1,541 
General and administration 16,396  6,895  63,107  18,668 
Total $ 43,463  $ 10,382  $ 121,492  $ 29,327