Quarterly report pursuant to Section 13 or 15(d)

Restricted Stock Units

v3.21.2
Restricted Stock Units
9 Months Ended
Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Restricted Stock Units

16. RESTRICTED STOCK UNITS (RSUs)

The following table sets forth the activity related to the number of outstanding RSUs for the nine months ended September 30, 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

 

 

(1,310,550

)

 

$

8.54

 

Granted

 

 

2,829,375

 

 

$

12.27

 

Cancelled

 

 

(244,681

)

 

$

7.12

 

Non-vested as of September 30, 2021

 

 

4,605,181

 

 

$

10.14

 

RSUs compensation expense for the three and nine months ended September 30, 2021 was $5.8 million and $15.1 million, respectively, which was recorded as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Research and development

 

$

1,311

 

 

$

1,161

 

 

$

3,088

 

 

$

3,613

 

Sales and marketing

 

 

518

 

 

 

1,281

 

 

 

1,906

 

 

 

3,434

 

General and administrative

 

 

3,991

 

 

 

2,480

 

 

 

10,096

 

 

 

8,709

 

Total

 

$

5,820

 

 

$

4,922

 

 

$

15,090

 

 

$

15,756

 

As of September 30, 2021, there was $29.9 million of unrecognized compensation cost related to non-vested RSUs to be recognized over a weighted-average remaining period of 1.45 years.