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Shareholder's Equity and Stock-Based Compensation

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Shareholder's Equity and Stock-Based Compensation

Shareholder’s Equity and Stock-Based CompensationThe Company granted 38,188 awards to employees under the 2016 Incentive Award Plan during the nine months ended September 30, 2023, consisting of 36,938 RSU and 1,250 stock option awards having four year vesting schedules. The Company granted an additional 11,187 stock option awards to non-employee directors under the 2016 Incentive Award Plan, during the nine months ended September 30, 2023. These awards are scheduled to vest on the earlier of (a) the day immediately preceding the date of the first annual meeting following the date of grant and (b) the first anniversary of the date of grant, subject to the non-employee director continuing in service through the applicable vesting date.

Award Activity

The following table sets forth the Company’s stock option activity:

			Nine Months Ended September 30, 2023
			Stock Options						Weighted Average Exercise Price
Outstanding - beginning of period			1,629,148						$	89.71
Granted			12,437						$	211.25
Exercised			(238,492)						$	41.32
Cancelled/Forfeited/Expired			(9,750)						$	186.77
Outstanding - end of period			1,393,343						$	98.39
Exercisable - end of period			950,421						$	72.58

The following table sets forth the Company’s RSA/RSU activity:

			Nine Months Ended September 30, 2023
			Shares/Units
Outstanding and unvested - beginning of period			523,377
Granted			36,938
Vested			(133,039)
Forfeited			(20,809)
Outstanding and unvested - end of period			406,467
Cumulative vested shares - end of period			2,362,955

Stock-based compensation expense recognized in the condensed consolidated statements of operations related to all outstanding stock based compensation awards is summarized below (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Total direct costs			$	2,745					$	3,179					$	8,243					$	8,744
Selling, general and administrative			2,262						2,615						7,108						7,075
Total stock-based compensation expense			$	5,007					$	5,794					$	15,351					$	15,819

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- References

No definition available.

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- Definition

The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//718/tableOfContent

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