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Common Stock and Stock-Based Compensation | 3 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Common Stock and Stock-Based Compensation | Common Stock and Stock-Based Compensation Restricted Stock Units The following table summarizes the Company’s RSU activity for the three months ended June 30, 2023:
| Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at March 31, 2023 | 2,251,224 |  |  | $ | 23.85 |
Granted | 848,711 |  |  | 37.99 |
Issued | (684,245) |  |  | 24.27 |
Forfeited | (24,100) |  |  | 23.68 |
Outstanding at June 30, 2023 | 2,391,590 |  |  | $ | 28.78 |
As of June 30, 2023, total unrecognized compensation expense for awards issued was $61,087, which is expected to be recognized over a weighted-average period of 2.63 years. The total grant date fair value of RSUs vested was $16.5 million for the three months ended June 30, 2023. Performance Stock Units The following table summarizes the Company’s PSU activity for the three months ended June 30, 2023:
| Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at March 31, 2023 | 2,748,347 |  |  | $ | 23.47 |
Granted | 292,985 |  |  | 40.50 |
Excess shares issued due to achievement of performance condition | 454,947 |  |  | 25.00 |
Issued | (181,050) |  |  | 25.76 |
Forfeited | (36,985) |  |  | 22.89 |
Outstanding at June 30, 2023 | 3,278,244 |  |  | $ | 24.23 |
Included in the outstanding shares are 396,171 and 486,299 shares as of March 31, 2023 and June 30, 2023, respectively, that have vested but have not been issued. PSUs are includ ed at 0% - 200% of target goals. The total compensation cost related to unvested awards not yet recorded at June 30, 2023 was $25,613, which is expected to be recognized over a weighted average period of 2.45 years. The Company recorded stock-based compensation expense in the following expense categories of its unaudited condensed consolidated statements of operations:
| Three-Month Period Ended |
| June 30, 2023 |  | June 24, 2022 |
Cost of sales | $ | 2,606 |  |  | $ | 832 |  |
Research and development | 2,868 |  |  | 1,128 |  |
Selling, general and administrative | 5,568 |  |  | 32,176 |  |
Total stock-based compensation | $ | 11,042 |  |  | $ | 34,136 |  |

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