Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the three months ended March 31, 2024 (number of units and aggregate intrinsic value in thousands):

	Number of	Weighted Average		Aggregate
	Units	Grant-Date Fair Value		Intrinsic Value
Units outstanding, beginning of year	1,615	$	193.09
Granted	478		257.49
Released	(174)		213.88
Forfeited	(42)		186.93
Units outstanding, end of period	1,877	$	207.73	$	587,321

Summary of Performance Stock Unit Activity

The following table summarizes PSU activity for the three months ended March 31, 2024 (number of units and aggregate intrinsic value in thousands):

	Number of	Weighted Average		Aggregate
	Units	Grant-Date Fair Value		Intrinsic Value
Units outstanding, beginning of year	394	$	201.61
Granted	15		284.00
Released	(1)		180.89
Forfeited	(7)		93.32
Units outstanding, end of period	401	$	206.75	$	125,533

Reported Share-Based Compensation

The following table summarizes the composition of stock-based compensation expense for the three months ended March 31, 2024 and 2023 (in thousands):

	Three Months Ended March 31,
	2024		2023
Cost of product sales and service sales	$	29,595	$	1,320
Sales, general and administrative expenses		23,155		15,445
Research and development expenses		22,365		17,585
Total stock-based compensation expense	$	75,115	$	34,350