Quarterly report pursuant to Section 13 or 15(d)

Restricted Stock Units

v3.21.1
Restricted Stock Units
3 Months Ended
Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Restricted Stock Units

15. RESTRICTED STOCK UNITS (RSUs)

The following table sets forth the activity related to the number of outstanding RSUs for the three months ended March 31, 2021:

 

 

 

Number of

shares

 

 

Weighted-

average

grant date

fair value

(per share)

 

Non-vested as of December 31, 2020

 

 

3,331,037

 

 

$

7.48

 

Vested

 

 

(558,396

)

 

 

8.08

 

Granted

 

 

939,450

 

 

 

16.23

 

Cancelled

 

 

(8,150

)

 

 

7.01

 

Non-vested as of March 31, 2021

 

 

3,703,941

 

 

$

9.61

 

 

RSUs compensation expense for the three months ended March 31, 2021 was $4.6 million, which was recorded as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Research and development

 

$

971

 

 

$

1,312

 

Sales and marketing

 

 

522

 

 

 

1,053

 

General and administrative

 

 

3,067

 

 

 

3,839

 

Total

 

$

4,560

 

 

$

6,204

 

As of March 31, 2021, there was $23.4 million of unrecognized compensation cost related to non-vested RSUs to be recognized over a weighted-average remaining period of 1.56 years.