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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | OTE 9: STOCK-BASED COMPENSATION The Company applies the fair value recognition provisions of ASC Topic 718: Stock Compensation. Stock-based compensation expense, net of forfeitures of $0.6 million for the three months ended March 31, 2022, was recorded in the following line items in the condensed consolidated statements of operations. Forfeitures were not material for the three months ended March 31, 2021.
| Three Months Ended March 31,
(in thousands) | 2022 |  | 2021
Cost of sales - contracts | $ | 49 |  |  | $ | 67 |
Selling, general and administrative | 3,487 |  |  | 1,253 |
Total stock-based compensation expense | $ | 3,536 |  |  | $ | 1,320 |
At March 31, 2022, the aggregate unrecognized compensation expense related to unvested equity awards was $29.6 million, which is expected to be recognized as compensation expense in fiscal years 2022 through 2025. A summary of stock option activity for the three months ended March 31, 2022 is below:
(in thousands, except for weighted average exercise price) | Options outstanding |  | Weighted average exercise price
Outstanding at January 1, 2022 | 1,306 |  |  | $ | 11.95 |
Exercised | (96) |  |  | 7.43 |
Canceled/forfeited | (68) |  |  | 8.97 |
Outstanding at March 31, 2022 | 1,142 |  |  | $ | 12.52 |
A summary of unvested restricted stock awards activity for the three months ended March 31, 2022 is below:
(in thousands, except for weighted average award value) | Restricted Stock Awards |  | Weighted average award value
Outstanding at January 1, 2022 | 27 |  |  | $ | 25.42 |
Vested | (27) |  |  | 25.42 |
Outstanding at March 31, 2022 | — |  |  |
A summary of unvested restricted stock units activity for the three months ended March 31, 2022 is below:
(in thousands, except for weighted average award value) | Restricted Stock Unit Awards |  | Weighted average award value
Outstanding at January 1, 2022 | 418 |  |  | $ | 34.08 |
Granted | 309 |  |  | 38.34 |
Vested | (71) |  |  | 26.36 |
Canceled/forfeited | (49) |  |  | 46.39 |
Outstanding at March 31, 2022 | 607 |  |  | $ | 36.02 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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- References No definition available. + Details
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