v3.26.1
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of stock option and restricted stock activity
A summary of stock options (including Inducement Grants), RSA, RSU, and PSU activity under the Amended 2022 Stock Plan and Inducement Grants during the three months ended March 31, 2026 is presented below:
(in thousands)OptionsPSUsRSAsRSUs
Outstanding/Unvested at December 31, 20253512301,53722
Granted14552321
Options Exercised/RSAs and PSUs Vested(13)(159)(495)
(1)
Forfeited(35)
Outstanding/Unvested at March 31, 20263382161,53043
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(1)Includes 260,000 shares purchased from employees to cover employee income taxes related to income earned upon vesting of restricted stock. The shares purchased are held in treasury and the $19.8 million total purchase price for the shares is included in Treasury stock in the accompanying unaudited condensed consolidated balance sheets.
Summary of allocated expense
The following table summarizes stock-based compensation expense incurred for ESPP expense, stock options, restricted stock awards, restricted stock units, performance-based restricted stock units, and Inducement Grants included in the accompanying unaudited condensed consolidated statements of operations:
Three Months Ended March 31,
(in thousands)20262025
Cost of sales$495 $375 
Research and development624 526 
Selling, general, and administrative9,072 7,967 
Total$10,191 $8,868