STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

Summary of stock option and restricted stock activity

A summary of stock option, RSA, and PSU activity under the 2022 Plan and Inducement Grants during the three months ended March 31, 2023 and 2022 is presented below:

(in thousands)	Options	Inducement Grants	PSUs	RSAs
Outstanding at December 31, 2021	747	241	—	707
Granted	27	—	—	460
Options Exercised/RSAs Vested	—	—	—	(161)	(1)
Forfeited	—	—	—	—
Expired	—	—	—	—
Outstanding at March 31, 2022	774	241	—	1,006
Outstanding at December 31, 2022	907	241	—	1,141
Granted	3	—	85	520
Options Exercised/RSAs Vested	(5)	—	—	(235)	(2)
Forfeited	(16)	—	—	(28)
Expired	—	—	—	—
Outstanding at March 31, 2023	889	241	85	1,398

(1) Includes 40 thousand shares purchased from employees to cover employee income taxes related to income earned upon vesting of restricted stock. The shares purchased are held in treasury and the $1.1 million total purchase price for the shares is included in Treasury stock in our accompanying unaudited interim condensed consolidated balance sheets.

(2) Includes 85 thousand shares purchased from employees to cover employee income taxes related to income earned upon vesting of restricted stock. The shares purchased are held in treasury and the $3.5 million total purchase price for the shares is included in Treasury stock in our accompanying unaudited interim condensed consolidated balance sheets.

2016 Employee Stock Purchase Plan

Summary of allocated expense

(in thousands)	Three Months Ended March 31,
	2023		2022
Cost of sales	$	12	$	10
Research and development		7		7
Selling, general, and administrative		72		21

$ 91 $ 38

2022 Plan

Summary of allocated expense

(in thousands)	Three Months Ended March 31,
	2023		2022
Cost of sales	$	139	$	135
Research and development		200		246
Selling, general, and administrative		3,908		2,818
	$	4,247	$	3,199