Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 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 nine months ended September 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 388  50.88 
Exercised (1,832) 8.67 
Cancelled (274) 23.67 
Outstanding at September 30, 2021 6,301  $ 12.84  6.36 $ 201,167 
Options vested and exercisable at September 30, 2021 4,146  $ 7.68  5.27 $ 150,834 
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, 2021 (shares in thousands):
Number of Awards Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2020 7,103  $ 40.17 
Granted 1,678  49.20 
Issued (3,212) 43.23 
Cancelled / forfeited (594) 33.42 
Unvested balance at September 30, 2021 4,975  $ 42.05 
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,
2021 2020 2021 2020
Cost of customer agreements and incentives $ 3,136  $ 922  $ 7,360  $ 3,798 
Cost of solar energy systems and product sales
1,588  205  3,937  1,148 
Sales and marketing 23,856  1,890  74,189  7,189 
Research and development 703  317  2,182  1,858 
General and administration 9,979  4,883  73,086  23,551 
Total $ 39,262  $ 8,217  $ 160,754  $ 37,544