v3.26.3
STOCK PLANS (Tables)
9 Months Ended
Sep. 30, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Recognized Stock-Based Compensation Expense
The Company recognized stock-based compensation expense in the periods presented as follows (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026202520262025
Cost of sales$1,355 $1,506 $4,807 $4,904 
Research and development1,619 2,326 6,054 6,974 
Selling, general and administrative8,849 10,146 29,459 32,125 
        Total$11,823 $13,978 $40,320 $44,003 
Stock-based compensation from:
Stock options$2,510 $3,403 $8,459 $12,152 
Restricted stock units9,327 10,383 30,630 30,670 
Performance share units (1)
(203)— 493 — 
Employee stock purchase plan share options189 192 738 1,181 
        Total$11,823 $13,978 $40,320 $44,003 
(1) The decrease in stock-based compensation expense for performance share units during the three months ended September 30, 2026 was due to adjustments related to the projected attainment of performance targets.
Schedule of Stock Option Activity
The following tables contain information about the Company’s stock option, RSU and PSU activity for the nine months ended September 30, 2026:
Stock Options Number of Stock Options Weighted Average Exercise Price (Per Share)
 Outstanding at December 31, 2025
6,374,481 $40.65 
     Granted327,203 22.88 
     Exercised(50,908)16.41 
     Forfeited(117,753)28.02 
     Expired(569,937)43.48 
 Outstanding at September 30, 2026
5,963,086 $39.86 
Schedule of RSU and PSU Activity
Number of Weighted Average Grant Date Fair Value (Per Share)
Stock AwardsRestricted
Stock Units
Performance
Share Units
Unvested at December 31, 2025
4,160,697 — $27.87 
     Granted2,293,813 202,112 21.93 
     Vested(1,262,797)— 30.33 
     Forfeited(633,467)— 25.58 
Unvested at September 30, 2026
4,558,246 202,112 $24.41 
Schedule of Valuation Assumptions The fair values of stock options granted were estimated using the Black-Scholes option valuation model with the following weighted average assumptions:
Black-Scholes Weighted Average AssumptionsNine Months Ended September 30, 2026
Expected dividend yieldNone
Risk-free interest rate4.13%
Expected volatility56.6%
Expected term of options5.68 years