The Company has stock-based compensation plans approved by its shareholders under which it grants stock options, restricted stock awards, restricted stock units and deferred stock units to officers, directors and key employees. Stock-based compensation expense was reported as follows in the condensed consolidated statements of operations:

	Three Months Ended
	December 31,
(In thousands)	2021		2020
Product costs	$	30	$	37
Research and development		453		284
Selling, general and administrative		1,197		1,112
Total	$	1,680	$	1,433

As of December 31, 2021, approximately $13.9 million of total unrecognized compensation costs related to non-vested awards is expected to be recognized over a weighted average period of approximately 2.8 years.

The Company awards stock options to officers, directors and key employees and uses the Black-Scholes option pricing model to determine the fair value of stock options as of the date of each grant. Stock option grant activity was as follows:

	Three Months Ended
	December 31,
	2021		2020
Stock option grant activity:
Stock options granted		245,000		217,000
Weighted average grant date fair value	$	16.36	$	13.42
Weighted average exercise price	$	43.93	$	37.44

During the three months ended December 31, 2021 and 2020, the Company awarded 78,000 and 65,000 restricted stock shares, respectively, to certain key employees and officers with a weighted average grant date fair value per share of $43.93 and $37.44, respectively. Restricted Stock is valued based on the market value of the shares as of the date of grant.

During each of the three months ended December 31, 2021 and 2020, the Company awarded 6,000 restricted stock units (“RSUs”) to directors and to key employees in foreign jurisdictions with a weighted average grant date fair value per unit of $43.93 and $37.44, respectively. RSUs are valued based on the market value of the shares as of the date of grant.

Our U.S. employees are eligible to participate in the amended 1999 Employee Stock Purchase Plan (“ESPP”) approved by our shareholders. During the three months ended December 31, 2021 and 2020, no shares were issued under the ESPP.