We grant restricted stock units, or RSUs, with a service condition, and RSUs with market and service conditions, or MSUs.

The following table summarizes activity for RSUs and MSUs for the six months ended June 30, 2026 (in thousands):


	Number of Underlying Shares
	RSUs			MSUs
Outstanding at December 31, 2025		771			219
Granted		444			94
Vested		(223	)		(60	)
Forfeited		(34	)		(3	)
Outstanding at June 30, 2026		958			250

The following table presents the detail of stock-based compensation expense amounts included in our Condensed Consolidated Statements of Operations for the periods presented (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	445	$	539	$	832	$	1,065
Research and development expense		7,942		6,065		15,115		13,084
Sales and marketing expense		2,671		1,984		5,039		2,254
General and administrative expense		5,237		4,435		10,000		9,142
Total stock-based compensation expense	$	16,295	$	13,023	$	30,986	$	25,545

At the 2026 Annual Meeting of Shareholders on May 28, 2026, the Company’s shareholders approved the 2026 Equity Incentive Plan, or the 2026 Plan. The 2026 Plan provides for equity award grants to Company executives and employees as well as to

non-employee directors and consultants that may comprise stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares. Similar awards were offered under the 2026 Plan’s predecessor, the 2016 Equity Incentive Plan, or the 2016 Plan. The 2016 Plan was terminated as of the approval of the 2026 Plan and we are no longer using it for equity award grants; however, outstanding awards granted under the 2016 Plan will continue to be governed by the terms of the 2016 Plan.