v3.26.3
Shareholder's Equity and Stock-Based Compensation
9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Shareholder's Equity and Stock-Based Compensation Shareholders’ Equity and Stock-Based Compensation
The Company granted 214,526 awards to employees under the 2016 Amended and Restated Incentive Award Plan during the nine months ended September 30, 2026, consisting of 111,158 RSU and 58,368 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 nine months ended September 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:
Nine Months Ended September 30, 2026
Stock Options Weighted Average
Exercise Price
Outstanding - beginning of period618,681$211.29 
Granted95,028$414.20 
Exercised(183,475)$140.22 
Cancelled/Forfeited/Expired(11,643)$331.92 
Outstanding - end of period518,591$271.17 
Exercisable - end of period377,943$225.74 
The following table sets forth the Company’s RSA/RSU activity:
Nine Months Ended
September 30, 2026
Shares/Units
Outstanding and unvested - beginning of period324,517
Granted126,158
Vested(118,335)
Forfeited(26,285)
Outstanding and unvested - end of period306,055
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 September 30,Nine Months Ended September 30,
2026202520262025
Total direct costs$3,306 $3,772 $9,121 $10,219 
Selling, general and administrative4,298 2,551 7,749 18,947 
Total stock-based compensation expense$7,604 $6,323 $16,870 $29,166