Stock Options

As of March 31, 2026, there were outstanding stock options to purchase 12,434,188 shares of common stock, of which stock options to purchase 7,546,703 shares of common stock were exercisable. Further, as of that date, 4,759,006 shares of common stock remain available for issuance in the future under the 2018 Stock Incentive Plan.

During the three months ended March 31, 2026 and 2025, the Company granted seven-year term options to purchase an aggregate of 531,654 and 510,956 shares, respectively, of the Company’s common stock to employees. The Company recorded stock-based compensation related to stock options totaling $4.9 million and $4.8 million, respectively, during the three months ended March 31, 2026 and 2025.

During the three months ended March 31, 2026 and 2025, options to purchase 246,389 shares and 975,155 shares, respectively, of the Company’s common stock were exercised, with proceeds of $3.3 million and $4.8 million, respectively, to the Company.

As of March 31, 2026, there was approximately $39.7 million of unrecognized compensation expense related to non-vested stock option awards granted under the 2018 Stock Incentive Plan. The cost is expected to be recognized over a weighted average period of approximately 2.4 years.

Restricted Stock Units

The Company granted 12,258 and 3,439 restricted stock units during the three months ended March 31, 2026 and 2025, respectively. During the three months ended March 31, 2026 and 2025, the Company recorded non-cash stock-based compensation expense related to restricted stock units totaling $1.4 million and $1.1 million, respectively.

As of March 31, 2026, there was approximately $12.5 million of unrecognized compensation expense related to non-vested restricted stock units granted under the 2018 Stock Incentive Plan. The cost is expected to be recognized over a weighted average period of approximately 2.5 years.