Share-based Compensation

6 Months Ended

Jun. 30, 2022

Share-based Compensation

Share-based compensation

Note 8 — Share-based Compensation

Restricted share awards are issued to employees and board of directors that are subject to specified restrictions and a risk of forfeiture. The restrictions typically lapse over one to four 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 and six months ended June 30, 2022 and 2021:

	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(in thousands)
Cost of sales	$	1,251	$	650	$	2,189	$	1,146
Research and development		1,863		1,132		3,120		1,949
Selling, general, and administrative		3,164		2,585		5,450		4,510
Total	$	6,278	$	4,367	$	10,759	$	7,605

For the six months ended June 30, 2022, equity activity related to stock options was as follows:

		Weighted
	Number of	Average
	Shares	Exercise Price
	(in thousands)
Balance - December 31, 2021	443	$	32.15
Expired	(261)		32.93
Balance - June 30, 2022	182		31.02

For the six months ended June 30, 2022, 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, 2021	2,083	$	17.33
Granted	1,012		31.33
Performance award adjustments	85		14.03
Vested	(678)		15.71
Forfeited	(63)		19.38
Balance - June 30, 2022	2,439		23.42