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Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Restricted and Performance Stock Units

A summary of the Company’s RSUs and PSUs as of March 31, 2022 and changes during the three months then ended is presented below:


		Weighted-			Weighted-
	Number	Average		Number	Average
	of RSUs	Fair Value RSUs		of PSUs	Fair Value PSUs
Outstanding as of December 31, 2021	691,373	$	33.66	367,067	$	32.84
Granted	345,230	43.96		167,587	43.96
Vested (1)	(68,189)	32.72		—	—
Forfeited	(5,617)	31.26		—	—
Outstanding as of March 31, 2022	962,797	$	37.43	534,654	$	36.32

_______________________________________________________________________________

(1) Includes 41,173 shares of common stock related to RSUs that were not delivered as of March 31, 2022.

Schedule of Shares of Common Stock Issued

A summary of shares of common stock issued related to the 2015 Plan, including the impact of any DERs issued in common stock, is presented below:


	Three months ended		Three months ended
	March 31, 2022		March 31, 2021
	RSUs	PSUs	RSUs	PSUs
Shares of common stock issued	492,580	188,527	270,779	—
Shares of common stock withheld by the Company as payment by employees in lieu of cash to satisfy tax withholding obligations	(159,851)	(87,215)	(89,938)	—
Net shares of common stock issued	332,729	101,312	180,841	—

Cumulative undelivered shares of common stock	414,866	191,242	395,670	—

Schedule of Compensation Expense Recorded in the Consolidated Statement of Operations

Compensation expense recorded related to RSUs and PSUs in the unaudited condensed consolidated statements of operations was as follows:


	Three months ended
	March 31,
(in thousands)		2022		2021
RSUs		$	2,770	$	2,359
PSUs		2,419		3,010

Schedule of Compensation Expense Related to Equity Incentive Plans

The allocation of share-based compensation expense in the unaudited condensed consolidated statements of operations was as follows:


	Three months ended
	March 31,
(in thousands)		2022		2021
Cost of goods sold		$	300	$	(7)
Selling, general and administrative		4,698		5,381
Research and development		355		159
Total compensation expense before income tax		5,353		5,533
Income tax benefit		1,176		1,267
Total compensation expense, net of income tax		$	4,177	$	4,266

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details