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Share-Based Compensation
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation
Note 9 – Share‑Based Compensation
The 2016 Omnibus Incentive Plan (the “2016 Plan”) provides for grants of share‑based awards to employees, directors, and consultants. Awards may be in the form of stock options (“options”), tandem and non‑tandem stock appreciation rights, restricted share awards or restricted share units (“RSUs”), performance awards, and other share‑based awards. Forfeited or expired awards are returned to the incentive plan pool for future grants. Awards generally vest over four years, 25% on the first anniversary of the date of grant and quarterly thereafter over the remaining 3 years. Upon vesting of RSUs, shares are withheld to cover statutory minimum withholding taxes. Shares withheld are not reflected as an issuance of ordinary shares within our consolidated statements of shareholders’ equity, as the shares were never issued, and the associated tax payments are reflected as financing activities within our consolidated statements of cash flows.
Share‑based compensation expense across all plans for options, RSUs, and employee share purchase rights was $3.6 million and $2.9 million for the first quarter of 2023 and 2022.
Stock Options
The following table summarizes option activity:
Number of Stock Options
Service
condition		Weighted average exercise price
per share		Weighted average remaining
contractual term		Aggregate intrinsic value
Outstanding, December 30, 2022805,115$23.35 
Granted—$0.00 
Exercised(92,766)$22.91 
Forfeited or expired(1,444)$22.18 
Outstanding, March 31, 2023710,905$23.41 2.6 years$6,634 
Exercisable, March 31, 2023634,134$23.36 2.4 years$5,951 
Restricted Share Units
The following table summarizes RSU activity:
Number of Restricted Share Units
Service
condition		Performance
condition		Market
condition		Weighted average grant-date fair
value per share
Unvested, December 30, 2022860,59557,56286,342$30.26 
Granted69,675——$27.04 
Vested(51,938)——$33.57 
Forfeited(11,936)——$31.81 
Unvested, March 31, 2023866,39657,56286,342$29.78 
Employee Share Purchase Plan
The 2017 Employee Stock Purchase Plan (the “2017 ESPP”) grants employees the ability to designate a portion of their base-pay to purchase ordinary shares at a price equal to 85% of the fair market value of our ordinary shares on the first or last day of each 6 month purchase period. Purchase periods begin on January 1 or July 1 and end on June 30 or December 31, or the next business day if such date is not a business day. Shares are purchased on the last day of the purchase period.
As of March 31, 2023, approximately 2.2 million ordinary shares remain available for purchase under the 2017 ESPP.