Share-based Compensation

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Share-based Compensation

Share-based Compensation

During the three months ended March 31, 2023, we granted 0.05 stock options, 0.04 restricted stock units and 0.03 performance units. The total fair value of awards granted to employees during the three months ended March 31, 2023 was $11.0. In addition, our non-employee directors received stock awards with a total fair value of $0.1. During the three months ended March 31, 2023, participants in our stock option plans exercised options to purchase 0.08 shares of our common stock.

Stock options generally have a four-year graded vesting period. Restricted stock and restricted stock units generally vest ratably over a three-year period. Performance units generally vest at the end of a three-year performance period based on the attainment of certain pre-determined performance condition targets. During the three months ended March 31, 2023, 0.04 restricted stock and restricted stock units vested, and 0.03 performance units vested.

Share-based compensation expense was $4.0 and $3.3 for the three months ended March 31, 2023 and 2022, respectively. Share-based compensation expense is included in selling, general, and administrative expenses in the unaudited condensed consolidated statements of operations and comprehensive (loss) income. As of March 31, 2023, total share-based compensation of $19.7 is expected to be recognized over the weighted-average period of approximately 2.5 years.