Share-Based Compensation

3 Months Ended

Mar. 31, 2020

Share-Based Compensation

Share-based compensation

Note 8 — 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, 2020 and 2019:

		Three months ended March 31,
		2020		2019
	(in thousands)
Cost of sales		$	521	$	470
Research and development			874		792
Selling, general, and administrative			2,251		1,895
Total		$	3,646	$	3,157

For the three months ended March 31, 2020, equity activity related to stock options was as follows:

		Weighted
	Number of	Average
	Shares	Exercise Price
	(in thousands)
Balance - December 31, 2019	1,119		34.88
Expired or forfeited	(40)		34.19
Balance - March 31, 2020	1,079		34.90

For the three months ended March 31, 2020, 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, 2019	2,257		16.20
Granted	840		8.99
Performance award adjustments	(45)		31.34
Vested	(190)		12.68
Forfeited	(233)		16.35
Balance - March 31, 2020	2,629		13.88