XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Stock-based Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The Company recorded the following stock-based compensation expense (in thousands):
| Three Months Ended March 31,
| 2024 |  | 2023
Incentive Plan | $ | 11,566 |  |  | $ | 11,061 |
Inducement Plan | 1,923 |  |  | 2,475 |
ESPP | 163 |  |  | 471 |
Stock-based compensation expense | $ | 13,652 |  |  | $ | 14,007 |
The following table summarizes stock option activity under the Incentive Plan:
| Shares (in thousands) |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2023 | 35,505 |  |  | $ | 8.24 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (48) |  |  | 3.27 |  |  |  |  | $ | 103 |
Cancelled or Forfeited | (1,068) |  |  | 9.60 |  |  |  |  |
Outstanding at March 31, 2024 | 34,389 |  |  | $ | 8.20 |  |  | 6.61 |  | $ | 6,951 |
Exercisable at March 31, 2024 | 20,922 |  |  | $ | 7.88 |  |  | 5.30 |  | $ | 6,951 |
Vested and expected to vest at March 31, 2024 | 31,784 |  |  | $ | 8.13 |  |  | 6.49 |  | $ | 6,951 |
The following table summarizes stock option activity under the Inducement Plan:
| Shares (in thousands) |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2023 | 5,527 |  |  | $ | 8.77 |  |  |  |  |
Granted | 92 |  |  | 5.25 |  |  |  |  |
Exercised | (128) |  |  | 3.09 |  |  |  |  | $ | 274 |
Cancelled or Forfeited | (300) |  |  | 10.86 |  |  |  |  |
Outstanding at March 31, 2024 | 5,191 |  |  | $ | 8.73 |  |  | 7.53 |  | $ | 2,454 |
Exercisable at March 31, 2024 | 2,628 |  |  | $ | 7.53 |  |  | 6.76 |  | $ | 2,128 |
Vested and expected to vest at March 31, 2024 | 4,684 |  |  | $ | 8.59 |  |  | 7.46 |  | $ | 2,373 |
Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors Under the Plans | Stock Incentive Plan There were no stock option awards granted under the Incentive Plan during the three months ended March 31, 2024. The following table summarizes the key assumptions used by the Company to value the stock option awards granted under the Incentive Plan during the three months ended March 31, 2023:
| Three Months Ended March 31, 2023
Expected Life in Years | 5.5
Expected Volatility | 84.2 | %
Expected Dividend Yield | 0.0 | %
Risk-Free Interest Rate | 3.6 | %
Weighted average grant date fair value per share | $ | 7.47 |
Inducement Equity Incentive Plan The following table summarizes the key assumptions used by the Company to value the stock option awards granted under the Inducement Plan during the three months ended March 31, 2024 and 2023:
| Three Months Ended March 31,
| 2024 |  | 2023
Expected Life in Years | 5.8 |  | 5.5
Expected Volatility | 82.8 | % |  | 84.2 | %
Expected Dividend Yield | 0.0 | % |  | 0.0 | %
Risk-Free Interest Rate | 4.1 | % |  | 3.7 | %
Weighted average grant date fair value per share | $ | 3.77 |  |  | $ | 6.85 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | The following table summarizes restricted stock unit activity under the Incentive Plan:
| Shares (in thousands) |  | Weighted Average Grant Date Fair Value
Unvested at December 31, 2023 | 5,592 |  |  | $ | 8.67 |
Granted | 128 |  |  | 5.30 |
Vested | (96) |  |  | 12.30 |
Forfeited | (313) |  |  | 8.65 |
Unvested at March 31, 2024 | 5,311 |  |  | $ | 8.52 |
The following table summarizes restricted stock unit activity under the Inducement Plan:
| Shares (in thousands) |  | Weighted Average Grant Date Fair Value
Unvested at December 31, 2023 | 915 |  |  | $ | 9.90 |
Granted | 63 |  |  | 5.25 |
Vested | (59) |  |  | 11.96 |
Forfeited | (106) |  |  | 10.41 |
Unvested at March 31, 2024 | 813 |  |  | $ | 9.32 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration