Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the six months ended June 30, 2023 (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	1,565	$	145.38
Granted	198		199.18
Released	(216)		120.14
Forfeited	(77)		156.58
Units outstanding, end of period	1,470		155.74	$	286,783

Summary of Performance Stock Unit Activity

The following table summarizes PSU activity, inclusive of XSUs, for the six months ended June 30, 2023 (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	1,369	$	43.43
Granted	—		—
Released	(1,167)		33.94
Forfeited	(43)		26.75
Units outstanding, end of period	159		117.67	$	31,008

Summary of the Company's Stock Options Activity

The following table summarizes stock option activity for the six months ended June 30, 2023 (number of options and aggregate intrinsic value in thousands):

				Weighted
		Weighted		Average
	Number	Average		Remaining
	of	Exercise		Contractual	Aggregate
	Options	Price		Life (years)	Intrinsic Value
Options outstanding, beginning of year	2,438	$	28.58
Granted	—		—
Exercised	(1,907)		28.58
Expired / terminated	—		—
Options outstanding and exercisable, end of period	531		28.58	4.66	$	88,421

Reported Share-Based Compensation

The following table summarizes the composition of stock-based compensation expense for the three and six months ended June 30, 2023 and 2022 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Cost of product sales and service sales	$	1,678	$	1,066	$	2,998	$	2,174
Sales, general and administrative expenses		14,901		8,610		30,346		21,592
Research and development expenses		15,312		11,486		32,897		22,484
Total stock-based compensation expense	$	31,891	$	21,162	$	66,241	$	46,250