Equity Incentive Plans and Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

A summary of shares available for grant under the Company’s plans is as follows:


	Shares Available for Grant
Total shares available for grant as of December 31, 2024		10,889,878
Nonvested equity stock and stock units granted (1)(2)		(1,434,218	)
Nonvested equity stock and stock units forfeited (1)		120,637
Total shares available for grant as of June 30, 2025		9,576,297

(1)

For purposes of determining the number of shares available for grant under the 2015 Equity Incentive Plan against the maximum number of shares authorized, each restricted stock unit granted prior to April 27, 2023 reduces the number of shares available for grant by 1.5 shares and each restricted stock unit forfeited increases shares available for grant by 1.5 shares. Each restricted stock unit granted on or after April 27, 2023 reduces the number of shares available for grant by 1.0 share and each restricted stock unit forfeited increases shares available for grant by 1.0 share.

(2)

Amount includes approximately 0.2 million shares that have been reserved for potential future issuance related to certain performance unit awards granted in the second quarter of 2025 and discussed under the section titled “Nonvested Equity Stock and Stock Units” below.

Schedule of Stock-Based Compensation Expenses

Stock-based compensation expense recorded in the Unaudited Condensed Consolidated Statements of Income was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2025		2024		2025		2024
Cost of revenue	$	227	$	122	$	389	$	246
Research and development		5,397		4,206		9,908		7,648
Sales, general and administrative		8,609		7,322		15,319		13,252
Total	$	14,233	$	11,650	$	25,616	$	21,146

Schedule of Nonvested Equity Stock and Stock Units Activity

The following table reflects the activity related to nonvested equity stock and stock units for the six months ended June 30, 2025:


Nonvested Equity Stock and Stock Units	Shares			Weighted- Average Grant-Date Fair Value
Nonvested as of December 31, 2024		3,150,161		$	44.72
Granted		1,206,742		$	53.92
Vested		(1,094,203	)	$	37.96
Forfeited		(74,398	)	$	48.83
Nonvested as of June 30, 2025		3,188,302		$	50.42