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STOCK INCENTIVE PLAN AND STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2024
STOCK INCENTIVE PLAN AND STOCK-BASED COMPENSATION  
Summary of changes in stock options granted

The following table summarizes stock option activity for the six months ended June 30, 2024:

    

    

    

Weighted-

    

Weighted-

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

    

Awards

    

Price

    

Term

    

Value ($000's)

Awards outstanding—December 31, 2023

 

6,316,422

$

32.47

7.17

Awards issued

 

1,307,396

$

30.51

  

Awards exercised

 

(46,996)

$

8.97

  

Awards forfeited

 

(27,791)

$

37.14

  

Awards outstanding—June 30, 2024

 

7,549,031

$

32.26

7.20

$

27,893

Awards exercisable—June 30, 2024

3,772,766

$

30.50

6.30

$

21,050

Summary of changes in SARs granted

The following table summarizes SARs activity for the six months ended June 30, 2024:

    

    

    

Weighted-

    

Weighted-

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

    

Awards

    

Price

    

Term

    

Value ($000's)

Awards outstanding—December 31, 2023

 

43,208

$

9.38

5.32

Awards issued

 

$

  

Awards exercised

 

$

  

Awards forfeited

 

$

  

  

Awards outstanding—June 30, 2024

 

43,208

$

9.38

4.83

$

887

Awards exercisable—June 30, 2024

39,556

$

8.98

4.72

$

827

Summary of changes in RSUs granted

The following table summarizes RSU activity for the six months ended June 30, 2024:

    

    

Weighted-

Average

Number of

Grant Date

    

Awards

    

Fair Value

Awards outstanding—December 31, 2023

 

330,000

$

31.53

Awards issued

 

464,600

$

30.62

Awards vested

 

(15,000)

$

29.03

Awards forfeited

 

(3,250)

$

30.69

Awards outstanding—June 30, 2024

 

776,350

$

31.03

Summary of assumptions used to value awards

As of

    

June 30, 

    

December 31, 

    

2024

    

2023

Dividend yield

 

0.00

%  

0.00

%

Expected volatility

 

69.84 - 72.98

%  

74.87 - 80.78

%

Risk-free interest rate

 

4.06 - 4.65

%  

3.42 - 4.62

%

Lack of marketability discount

 

0.00

%  

0.00

%

Expected term (years)

 

2.04 - 6.11

 

2.26 - 10.77

Summary of stock-based compensation expense

    

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2024

    

2023

    

2024

    

2023

Research and development expense

$

1,683

$

956

$

3,054

$

1,932

Sales and marketing expense

 

2,100

 

1,146

 

4,094

 

2,219

General and administrative expense

 

7,180

 

5,691

 

14,249

 

10,203

$

10,963

$

7,793

$

21,397

$

14,354