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Stock-Based Compensation Expense (Tables)

9 Months Ended

Sep. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Employee Awards and Non-employee Director Award Plan Activity

During the nine months ended September 30, 2021, the Company granted the following awards:

	Three Months Ended			Three Months Ended			Three Months Ended			Nine Months Ended
	March 31, 2021			June 30, 2021			September 30, 2021			September 30, 2021
Employee awards:
RSUs		370,137	⁽¹⁾		1,476,059	⁽²⁾		80,370	⁽⁵⁾		1,926,566
Market RSUs		—			918,775	⁽³⁾		—			918,775
Non-employee director RSUs		—			316,232	⁽⁴⁾		—			316,232
Total awards		370,137			2,711,066			80,370			3,161,573

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(1)	RSUs had a weighted average grant date fair value of $5.53 per share, of which 202,237 RSUs had a vesting period of 1 year and 167,900 RSUs had a vesting period of four years.

(2)	RSUs had a weighted average grant date fair value of $4.26 per share and a vesting period of 4 years.

(3)

Market RSUs had a grant date fair value of $9.30 per share and will vest on May 17, 2024 provided the closing price of the Company’s common stock on such vesting date is not less than the closing price on May 17, 2021. The number of shares delivered on the vesting date is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from May 18, 2021 until May 17, 2024 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same three-year period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above.

(4)	RSUs had a weighted average grant date fair value of $4.31 per share and vested immediately upon grant, but the underlying shares of common stock will not be delivered until there is a separation of service, such as resignation, retirement or death.

(5)	RSUs had a weighted average grant date fair value of $3.97 per share and a vesting period of 4 years.

Stock Based Compensation Expense Recognized in Condensed Consolidated Statements of Operations

Total stock-based compensation expense recognized in the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
RSUs and options	$	2,983	$	1,225	$	8,628	$	4,413
Employee stock purchase plan		196		69		412		194
Total stock compensation expense	$	3,179	$	1,294	$	9,040	$	4,607