v3.25.2
Share-based Compensation
6 Months Ended
Jun. 30, 2025
Share-based Compensation  
Share-based compensation

Note 7 — Share-based Compensation

Restricted share awards are issued to employees and to members of our board of directors that are subject to specified restrictions and a risk of forfeiture. The restrictions typically lapse over one to four years and may entitle holders to dividends and voting rights. Other types of share-based compensation include performance share awards, performance share units, and restricted share units (collectively with restricted share awards, “restricted shares”), as well as options to purchase common stock.

Share-based compensation expense was recognized in the following line items in the Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024:

Three months ended June 30,

Six months ended June 30,

    

2025

    

2024

    

2025

    

2024

    

(in thousands)

Cost of sales

 

$

1,991

 

$

1,445

 

$

3,334

 

$

3,175

 

Research and development

3,014

2,993

6,062

5,311

Selling, general, and administrative

4,646

4,795

9,463

8,829

Total

$

9,651

$

9,233

$

18,859

$

17,315

For the six months ended June 30, 2025, equity activity related to non-vested restricted shares and performance shares was as follows:

    

    

Weighted

Average

Number of

Grant Date

Shares

Fair Value

(in thousands)

Balance - December 31, 2024

2,604

$

32.53

Granted

1,143

22.97

Performance award adjustments

(21)

45.28

Vested

(883)

31.77

Forfeited

(66)

26.86

Balance - June 30, 2025

2,777

$

28.87