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Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Schedule of Share-based Compensation Expense from Continuing and Discontinued Operations

The following table presents share-based compensation expense from continuing and discontinued operations included in the Company’s consolidated statements of operations and comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

(In thousands)

 

2023

 

 

2022

 

 

2021

 

Cost of goods manufactured and sold

 

$

11,353

 

 

$

10,284

 

 

$

9,175

 

Research and development

 

 

25,753

 

 

 

23,289

 

 

 

21,396

 

Selling, general and administrative

 

 

55,611

 

 

 

54,104

 

 

 

51,861

 

Share-based compensation expense from continuing operations

 

 

92,717

 

 

 

87,677

 

 

 

82,432

 

Cost of goods manufactured and sold

 

 

—

 

 

 

—

 

 

 

—

 

Research and development

 

 

3,255

 

 

 

4,652

 

 

 

3,481

 

Selling, general and administrative

 

 

4,933

 

 

 

1,925

 

 

 

1,709

 

Share-based compensation expense from discontinued operations

 

 

8,188

 

 

 

6,577

 

 

 

5,190

 

Total share-based compensation expense

 

$

100,905

 

 

$

94,254

 

 

$

87,622

 
Schedule of Stock Option Activity

A summary of stock option activity is presented in the following table:

 

 

 

Number of

 

 

Weighted Average

 

 

 

Shares

 

 

Exercise Price

 

Outstanding, January 1, 2023

 

 

17,596,961

 

 

$

33.32

 

Granted

 

 

3,479,898

 

 

$

27.88

 

Conversion Reissuance

 

 

357,146

 

 

$

32.26

 

Exercised

 

 

(772,207

)

 

$

21.70

 

Expired

 

 

(1,334,719

)

 

$

37.02

 

Forfeited

 

 

(1,187,176

)

 

$

26.56

 

Outstanding, December 31, 2023

 

 

18,139,903

 

 

$

32.28

 

Exercisable, December 31, 2023

 

 

11,054,082

 

 

$

37.24

 
Time-based RSU Awards  
Summary of RSU Activity

A summary of time-based RSU activity is presented in the following table:

 

 

 

 

 

 

Weighted Average

 

 

 

Number of
Shares

 

 

Grant Date
Fair Value

 

Unvested, January 1, 2023

 

 

6,625,422

 

 

$

23.34

 

Granted

 

 

2,884,122

 

 

$

27.65

 

Conversion reissuance

 

 

110,015

 

 

$

24.19

 

Forfeited

 

 

(1,368,705

)

 

$

25.17

 

Vested

 

 

(2,593,276

)

 

$

24.31

 

Unvested, December 31, 2023

 

 

5,657,578

 

 

$

24.18

 
Performance-based RSUs Awards  
Summary of RSU Activity

A summary of performance-based RSU activity is presented in the following table:

 

 

 

 

 

 

Weighted Average

 

 

 

Number of
Shares

 

 

Grant Date
Fair Value

 

Unvested, January 1, 2023

 

 

1,349,634

 

 

$

26.05

 

Granted

 

 

667,565

 

 

$

29.91

 

Conversion reissuance

 

 

30,244

 

 

$

27.15

 

Forfeited

 

 

(248,711

)

 

$

24.06

 

Vested

 

 

(252,375

)

 

$

23.43

 

Unvested, December 31, 2023

 

 

1,546,357

 

 

$

27.95