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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation expense, net of forfeitures and adjustments of zero and $0.1 million, was $5.9 million and $3.9 million for the three months ended September 30, 2024 and 2023, respectively. Stock-based compensation expense, net of forfeitures and adjustments of $0.2 million and $0.4 million, was $16.6 million and $10.5 million for the nine months ended September 30, 2024 and 2023, respectively. At September 30, 2024, the aggregate unrecognized compensation expense related to unvested equity awards was $32.3 million, which is expected to be recognized as compensation expense in fiscal years 2024 through 2027. A summary of stock option activity for the nine months ended September 30, 2024 is below:
(in thousands, except for weighted average exercise price) | Options outstanding |  | Weighted average exercise price
Outstanding at January 1, 2024 | 920 |  |  | $ | 13.04 |
Exercised | (174) |  |  | 12.03 |
Canceled/forfeited | (16) |  |  | 13.22 |
Outstanding at September 30, 2024 | 730 |  |  | $ | 13.28 |
A summary of unvested restricted stock units activity for the nine months ended September 30, 2024 is below:
(in thousands, except for weighted average award value) | Restricted Stock Unit Awards |  | Weighted average award value
Outstanding at January 1, 2024 | 839 |  |  | $ | 35.83 |
Granted | 587 |  |  | 47.60 |
Vested | (407) |  |  | 33.95 |
Canceled/forfeited | (94) |  |  | 37.30 |
Outstanding at September 30, 2024 | 925 |  |  | $ | 42.49 |
A total of 330,000 shares of Company common stock were made available for purchase under the Company's 2021 Employee Stock Purchase Plan ("ESPP"), subject to adjustment as provided for in the ESPP. As of September 30, 2024, 15,251 shares of common stock were purchased.

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