v3.26.1
Share-based Compensation
3 Months Ended
Mar. 31, 2026
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 months ended March 31, 2026 and 2025:

Three months ended March 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

(in thousands)

Cost of sales

 

$

1,511

 

$

1,343

 

Research and development

2,506

3,048

Selling, general, and administrative

4,494

4,817

Total

$

8,511

$

9,208

For the three months ended March 31, 2026, 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, 2025

2,551

$

28.89

Granted

1,113

30.79

Performance award adjustments

117

32.25

Vested

(942)

27.70

Forfeited

(32)

23.41

Balance - March 31, 2026

2,807

$

30.25