Share-based compensation

3 Months Ended

Mar. 31, 2018

Share-based compensation

Share-based compensation

Note 9 - Share-based compensation

Restricted share awards are issued to employees that are subject to specified restrictions and a risk of forfeiture. The restrictions typically lapse over one to five years and may entitle holders to dividends and voting rights. Other types of share-based compensation include performance share awards, performance share units, and restricted share units (collectively with restricted share awards, “restricted shares”), as well as options to purchase common stock.

Share-based compensation expense was recognized in the following line items in the Consolidated Statements of Operations for the three months ended March 31, 2018 and 2017:

	Three months ended March 31,
	2018		2017
	(in thousands)
Cost of sales	$	554	$	657
Research and development	954		429
Selling, general, and administrative	2,857		3,100
Restructuring	172		—
Total	$	4,537	$	4,186

For the three months ended March 31, 2018, equity activity related to stock options was as follows:

			Weighted
	Number of		Average
	Shares		Exercise Price
	(in thousands)
Balance - December 31, 2017	1,394		$	34.97
Expired or forfeited	(53	)	35.45
Balance - March 31, 2018	1,341		$	34.95

For the three months ended March 31, 2018, equity activity related to non-vested restricted shares and performance shares was as follows:

			Weighted Average
	Number of		Grant Date
	Shares		Fair Value
	(in thousands)
Balance - December 31, 2017	1,880		$	25.41
Granted	759		19.69
Performance award adjustments	(5	)	32.67
Vested	(44	)	28.46
Forfeited	(55	)	25.87
Balance - March 31, 2018	2,535		$	23.62