Equity Incentive Plans |
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| Equity Incentive Plans | Equity Incentive Plans Equity Compensation Plan Activity The following table summarizes all stock option plan activity for the six months ended June 30, 2026:
In accordance with the Company’s Non-Employee Director Compensation Program, certain non-employee directors elected to receive fully vested shares in lieu of all or a portion of their 2026 annual cash board retainers. Accordingly, fully vested ordinary shares were granted to these directors for their service as a director during the first and second quarters of 2026. The number of shares received in lieu of cash was calculated by dividing the applicable value of the equity by the average closing price of the Company’s ordinary shares over the 30 consecutive days immediately preceding the last day of the quarter, rounded down to the nearest whole share. On March 31, 2026 and June 30, 2026, the Company granted certain non-employee directors 7,877 and 10,456 fully vested ordinary shares, respectively. The weighted-average grant date fair value of these shares was $2.48. Share-based Compensation The following table summarizes share-based compensation expense related to share-based payment awards granted pursuant to all of the Company’s equity compensation arrangements (in thousands):
As of June 30, 2026, there was $11.4 million of total unrecognized compensation cost related to non-vested, share-based payment awards granted under all of the Company’s equity compensation plans. Total unrecognized compensation cost will be adjusted for forfeitures. The Company expects to recognize this compensation cost over a weighted-average period of 2.5 years. The following are the weighted-average assumptions for stock options:
The weighted-average fair value of options granted was $2.02 and $0.64 for the six months ended June 30, 2026 and 2025, respectively. The following are the weighted-average assumptions for purchase rights under the ESPP:
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