v3.26.1
Shareholder's Equity and Stock-Based Compensation
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Shareholder's Equity and Stock-Based Compensation Shareholders’ Equity and Stock-Based Compensation
The Company granted 205,770 awards to employees under the 2016 Amended and Restated Incentive Award Plan during the six months ended June 30, 2026, consisting of 104,350 RSU and 56,420 stock options having five year vesting schedules and 15,000 RSU and 30,000 stock options having two year vesting schedules. The Company granted an additional 6,660 stock option awards to non-employee directors under the 2016 Amended and Restated Incentive Award Plan during the six months ended June 30, 2026. These awards are scheduled to vest on the earlier of (a) the day immediately preceding the date of the first annual meeting following the date of grant and (b) the first anniversary of the date of grant, subject to the non-employee director continuing in service through the applicable vesting date.
Award Activity
The following table sets forth the Company’s stock option activity:
Six Months Ended June 30, 2026
Stock Options Weighted Average
Exercise Price
Outstanding - beginning of period618,681$211.29 
Granted93,080$410.92 
Exercised(136,377)$141.02 
Cancelled/Forfeited/Expired(10,857)$329.77 
Outstanding - end of period564,527$259.14 
Exercisable - end of period425,041$216.01 
The following table sets forth the Company’s RSA/RSU activity:
Six Months Ended
June 30, 2026
Shares/Units
Outstanding and unvested - beginning of period324,517
Granted119,350
Vested(109,352)
Forfeited(22,680)
Outstanding and unvested - end of period311,835
Stock-based compensation expense recognized in the condensed consolidated statements of operations related to all outstanding stock-based compensation awards is summarized below (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Total direct costs$2,814 $3,420 $5,815 $6,447 
Selling, general and administrative1,534 2,531 3,451 16,396 
Total stock-based compensation expense$4,348 $5,951 $9,266 $22,843