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Share-Based Payments (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense Share-based compensation expense is as follows (dollars in thousands):
 Years Ended December 31,
 202220212020
Research and development$2,922 $2,403 $2,431 
Selling, general and administrative14,646 15,507 14,130 
Total$17,568 $17,910 $16,561 
Summary of Stock Option and SAR activity
The following table summarizes stock option and stock appreciation rights (SAR) activities:
Number of
Options & SARs
Weighted
Average
Exercise Price
(per share)
Weighted
Average
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding, December 31, 20205,451,862 $23.26 6.28$29,877 
Granted1,055,525 $28.93 
Exercised(266,987)$18.47 
Forfeited(466,324)$27.74 
Outstanding, December 31, 20215,774,076 $24.15 5.95$41,530 
Granted1,103,635 $32.12 
Exercised(817,919)$12.77 
Forfeited(262,223)$30.42 
Outstanding, December 31, 20225,797,569 $26.99 6.11$53,650 
As of December 31, 2022
Vested and expected to vest5,797,569 $26.99 6.11$53,650 
Exercisable3,541,395 $25.08 4.68$40,577 
Schedule of Assumptions Used in Estimation of Fair Value of Each Award Option on the Date of Grant Using Black-Scholes Option-Pricing Model The fair value of each option award is estimated on the date of the grant, using the Black-Scholes option-pricing model and the assumptions in the following table:
 Years Ended December 31,
202220212020
Fair value of common stock
$28.93 - $35.23
$25.09 - $30.45
$21.13 - $23.99
Expected volatility
58.71% - 60.15%
60.62% - 61.80%
61.56% - 62.27%
Dividend yield0%0%0%
Expected term
5.58 years - 6.72 years
5.63 years - 6.56 years
5.72 years - 6.54 years
Risk-free interest rate
1.87% - 3.70%
0.72% - 1.30%
0.27% - 1.34%
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes restricted stock unit (RSU) activities:
Number of
RSUs
Weighted-
Average
Grant Date Fair Value per Share
Aggregate Intrinsic Value
(in thousands)
Aggregate Fair Value
(in thousands)
Nonvested, December 30, 202026,055 $23.99 
Granted21,110 $29.61 
Vested(26,055)$23.99 $146.4 $625.1 
Forfeited— $— 
Nonvested, December 31, 202121,110 $29.61 
Granted134,460 $32.17 
Vested(21,110)$29.61 $69.5 $625.1 
Forfeited(2,500)$32.20 
Nonvested, December 31, 2022131,960 $32.17 
Share-Based Payment Arrangement, Performance Shares, Activity
The following table summarizes performance share unit (PSU) activities:
Performance-Based PSUsMarket-Based UnitsTotal PSUs
Number of PSUsWeighted-
Average
Grant Date Fair Value per Share
Number of PSUsWeighted-
Average
Grant Date Fair Value per Share
Number of PSUsWeighted-
Average
Grant Date Fair Value per Share
Nonvested, December 31, 2020— — 15,625 $23.41 15,625 $23.41 
Granted95,000 $29.74 20,000 $28.63 115,000 $29.55 
Vested(40,000)$29.61 — $— (40,000)$29.61 
Forfeited(1,500)$30.45 — $— (1,500)$30.45 
Nonvested, December 31, 202153,500 $29.82 35,625 $26.34 89,125 $28.43 
Granted155,000 $28.93 — $— 155,000 $28.93 
Vested(22,250)$29.69 (15,625)$23.41 (37,875)$27.10 
Forfeited(4,500)$29.94 — $— (4,500)$29.94 
Nonvested, December 31, 2022181,750 $29.07 20,000 $28.63 201,750 $29.03