Share-based Compensation

6 Months Ended

Jun. 30, 2023

Share-based Compensation

Share-based compensation

Note 8 — Share-based Compensation

Restricted share awards are issued to employees and to members of our board of directors that are subject to specified restrictions and a risk of forfeiture. The restrictions typically lapse over one to four years and may entitle holders to dividends and voting rights. Other types of share-based compensation include performance share awards, performance share units, and restricted share units (collectively with restricted share awards, “restricted shares”), as well as options to purchase common stock.

Share-based compensation expense was recognized in the following line items in the Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022:

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
	(in thousands)
Cost of sales	$	1,572	$	1,251	$	3,023	$	2,189
Research and development		2,568		1,863		4,657		3,120
Selling, general, and administrative		3,792		3,164		7,279		5,450
Total	$	7,932	$	6,278	$	14,959	$	10,759

For the six months ended June 30, 2023, equity activity related to stock options was as follows:

		Weighted
	Number of	Average
	Shares	Exercise Price
	(in thousands)
Balance - December 31, 2022	177	$	30.94
Expired	(62)		30.47
Balance - June 30, 2023	115		31.18

For the six months ended June 30, 2023, equity activity related to non-vested restricted shares and performance shares was as follows:

		Weighted
		Average
	Number of	Grant Date
	Shares	Fair Value
	(in thousands)
Balance - December 31, 2022	2,496	$	23.83
Granted	1,076		22.79
Performance award adjustments	183		10.59
Vested	(1,113)		16.47
Forfeited	(50)		28.01
Balance - June 30, 2023	2,592		25.66