Share-based Compensation

6 Months Ended

Jun. 30, 2024

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, 2024 and 2023:

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
	(in thousands)
Cost of sales	$	1,445	$	1,572	$	3,175	$	3,023
Research and development		2,993		2,568		5,311		4,657
Selling, general, and administrative		4,795		3,792		8,829		7,279
Total	$	9,233	$	7,932	$	17,315	$	14,959

For the six months ended June 30, 2024, 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, 2023	2,464	$	26.19
Granted	1,169		38.01
Performance award adjustments	200		27.81
Vested	(1,111)		25.62
Forfeited	(58)		27.28
Balance - June 30, 2024	2,664	$	31.92