Stock-based compensation expense for each employee and director is presented in the same statement of operations caption as their cash compensation. Stock-based compensation expense by statement of operations caption and the related income tax benefit were as follows:


	Three Months Ended March 31,
(In thousands)	2026		2025
Cost of sales	$	13	$	16
Research and development expenses	139		158
Selling, general and administrative expenses:
Employees	397		1,276
Outside directors	219		334
Total employee and director stock-based compensation expense	$	768	$	1,784
Income tax benefit	$	162	$	247

Non-vested restricted stock award activity was as follows:


	Shares (in thousands)	Weighted-Average Grant Date Fair Value
Non-vested at December 31, 2025	494	$	8.25
Granted	—	—
Vested	(22)	11.34
Forfeited	(28)	7.51
Non-vested at March 31, 2026	444	$	8.14

As of March 31, 2026, we expect to recognize $1.8 million of total unrecognized pre-tax stock-based compensation expense related to non-vested restricted stock awards over a weighted-average life of 1.4 years.


	Shares (in thousands)	Weighted-Average Grant Date Fair Value
Non-vested at December 31, 2025	744	$	2.16
Granted	—	—
Vested	—	—
Forfeited	(53)	2.90
Non-vested at March 31, 2026	691	$	2.10

The assumptions we utilized in the Monte Carlo simulation model and the resulting weighted average fair value of performance stock grants were the following:


	Three Months Ended March 31,
	2026			2025
Weighted average fair value of grants	$	—		$	—
Risk-free interest rate	—		%	—		%
Expected volatility	—		%	—		%
Expected life in years	0.00			0.00

As of March 31, 2026, we expect to recognize $0.9 million of total unrecognized pre-tax stock-based compensation expense related to non-vested performance stock awards over a weighted-average period of 2.3 years.


	Number of Options (in thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2025	856	$	24.29
Granted	—	—
Exercised	—	—			$	—
Forfeited/canceled/expired	(122)	$	27.07
Outstanding at March 31, 2026 (1)	734	$	23.83	5.51	$	293
Vested and expected to vest at March 31, 2026 (1)	734	$	23.83	5.51	$	—
Exercisable at March 31, 2026 (1)	446	$	36.86	2.93	$	—

(1)The aggregate intrinsic value represents the total pre-tax value (the difference between our closing stock price on the last trading day of the first quarter of 2026 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they all exercised their options on March 31, 2026. This amount will change based on the fair market value of our stock.

As of March 31, 2026, we expect to recognize $0.4 million of total unrecognized pre-tax stock-based compensation expense related to non-vested stock options over a remaining weighted-average life of 2.7 years.