Stock-Based Compensation |
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| Stock-Based Compensation | 6. Stock-BASED COMPENSATION Stock Incentive Plan General Option Information A summary of option activity for the nine months ended September 30, 2026 is as follows:
The aggregate intrinsic value of options exercised during the nine months ended September 30, 2026 and 2025 was $16.8 million and $0.9 million, respectively.
The total fair value of stock options vested during the nine months ended September 30, 2026 and 2025 was $10.6 million and $14.6 million, respectively. Restricted Stock Unit Activity A summary of restricted stock unit, or RSU, activity for the nine months ended September 30, 2026 is as follows:
Performance-Based Restricted Stock Unit Activity In 2025, the Company granted performance-based restricted stock units, or PSUs, whereby vesting depends upon the occurrence of certain milestone events, or the 2025 PSUs. When the achievement of milestone events, which include certain clinical milestones related to avexitide for the treatment of PBH, becomes probable, compensation expense will be recognized from the grant date over the requisite service period and a cumulative catch-up adjustment will be recorded to reflect the portion of the employees’ requisite service that has been provided to date. During the three months ended September 30, 2026, the Company recognized $1.7 million of stock-based compensation expense related to a performance condition that was achieved during the period. None of the remaining performance conditions had been deemed probable of being achieved and therefore no additional expense was recognized during the period. A summary of PSU activity for the nine months ended September 30, 2026, is as follows:
Summary of Stock-Based Compensation Expense Stock-based compensation expense for the three and nine months ended September 30, 2026 and 2025, is as follows (in thousands):
The following table summarizes unrecognized stock-based compensation expense as of September 30, 2026, by type of awards (in thousands), and the weighted-average period over which that expense is expected to be recognized (in years). The total unrecognized stock-based compensation expense will be adjusted for actual forfeitures as they occur.
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