Share-based compensation

9 Months Ended

Sep. 30, 2015

Note 7 - Share-based compensation

Restricted share awards are issued to employees that are subject to specified restrictions and a risk of forfeiture. The restrictions typically lapse over one to five years and may entitle holders to dividends and voting rights. Other types of share-based compensation include performance share awards, performance share units, and restricted share units (collectively with restricted share awards, “restricted shares”), as well as options to purchase common stock. Share-based compensation expense was recognized in the following line items in the Consolidated Statements of Operations:

	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
	(in thousands)
Cost of sales	$	787	$	619	$	2,102	$	1,799
Selling, general, and administrative	3,288		2,766		9,197		9,191
Research and development	1,044		1,105		2,739		3,313

Total share-based compensation expense	$	5,119	$	4,490	$	14,038	$	14,303

Equity activity related to restricted shares:

			Weighted Average Grant Date
	Number of Shares		Fair Value
	(in thousands)
Restricted shares outstanding - December 31, 2014	1,237		$	34.27
Granted	640		30.85
Vested	(248	)	37.95
Forfeited	(65	)	35.80

Restricted shares outstanding - September 30, 2015	1,564		$	32.22

Equity activity related to stock options:

			Weighted Average
	Number of Options		Exercise Price
	(in thousands)
Stock options outstanding - December 31, 2014	2,391		$	31.65
Granted	16		30.22
Exercised	(92	)	17.44
Expired or forfeited	(119	)	38.63

Stock options outstanding - September 30, 2015	2,196		$	31.86