Our share-based compensation expense is associated with RSUs, PSUs, and our Employee Stock Purchase Plan, or ESPP. The following table summarizes our share-based compensation expense included in our condensed consolidated statements of operations:



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2026		2025		2026		2025
Cost of sales	$	2.7	$	1.0	$	8.6	$	8.2
Research and development	10.3		12.2		31.6		38.5
Selling, general and administrative	23.8		31.9		78.9		77.9
Total share-based compensation expense	$	36.8	$	45.1	$	119.1	$	124.6

As of September 30, 2026, unrecognized estimated compensation costs related to RSUs and PSUs totaled $219.4 million and are expected to be recognized over a weighted-average period of approximately 1.9 years.

In April 2025, our Board of Directors authorized and approved a share repurchase program of up to $750.0 million of our outstanding common stock, with a repurchase period ending no later than June 30, 2026, or the 2025 Share Repurchase Program. During the twelve months ended December 31, 2025, we repurchased 7.7 million shares of our common stock for $500.0 million under the 2025 Share Repurchase Program. In May 2026, our Board of Directors terminated the existing 2025 Share Repurchase Program, of which $250.0 million remained available to be repurchased under the program.

In May 2026, our Board of Directors authorized and approved a share repurchase program of up to $1.00 billion of our outstanding common stock, with a repurchase period ending no later than June 30, 2027, or the 2026 Share Repurchase Program. During the three and nine months ended September 30, 2026, we repurchased 4.6 million and 13.2 million shares, respectively, of our common stock for $400.0 million and $1.00 billion, respectively, under the 2026 Share Repurchase Program. As of September 30, 2026, the 2026 Share Repurchase Program was completed.

Repurchases of our common stock under the 2026 Share Repurchase Program were permitted to be made from time to time in the open market, in privately negotiated transactions or by other methods, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, or the Exchange Act, at our discretion, and in accordance with the limitations set forth in Rule 10b-18 promulgated under the Exchange Act and other applicable federal and state laws and regulations.

During the three and nine months ended September 30, 2026, 0.1 million and 0.6 million shares, respectively, of our common stock were withheld to satisfy employee tax withholding obligations related to net share settlement.

Repurchased and withheld shares of our common stock are held as treasury shares until they are reissued or retired. We have not yet determined the ultimate disposition of repurchased or withheld shares and consequently we continue to hold them as treasury shares rather than retiring them. Authorization of future stock repurchase programs is subject to the final determination of our Board of Directors.