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Share-based Compensation
3 Months Ended
Mar. 31, 2023
Share-based Compensation  
Share-based compensation

Note 8 — Share-based Compensation

Restricted share awards are issued to employees and to members of our board of directors that are subject to specified restrictions and a risk of forfeiture. The restrictions typically lapse over one to four 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 for the three months ended March 31, 2023 and 2022:

Three months ended March 31,

    

2023

    

2022

    

    

(in thousands)

Cost of sales

 

$

1,451

 

$

938

 

 

Research and development

2,089

1,257

Selling, general, and administrative

3,487

2,286

Total

$

7,027

$

4,481

For the three months ended March 31, 2023, equity activity related to stock options was as follows:

Weighted 

Number of

Average

    

Shares

    

Exercise Price

(in thousands)

Balance - December 31, 2022

177

$

30.94

Expired

(1)

30.47

Balance - March 31, 2023

176

30.94

For the three months ended March 31, 2023, equity activity related to non-vested restricted shares and performance shares was as follows:

    

    

Weighted

Average

Number of

Grant Date

Shares

Fair Value

(in thousands)

Balance - December 31, 2022

2,496

$

23.83

Granted

1,022

22.90

Performance award adjustments

183

10.59

Vested

(1,012)

16.22

Forfeited

(14)

22.46

Balance - March 31, 2023

2,675

25.46