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Share-based compensation | 3 Months Ended
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Mar. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Share-based compensation | 13. Share-based compensation Components of share-based compensation expense are as follows:
|  | Three Months Ended March 31, |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |
Cost of sales |  | $ | 471 |  |  | $ | 211 |
Sales and marketing |  |  | 2,249 |  |  |  | 981 |
General and administrative |  |  | 9,104 |  |  |  | 3,218 |
Research and development |  |  | 1,196 |  |  |  | (78 | )
Total |  | $ | 13,020 |  |  | $ | 4,332 |
|  | Three Months Ended March 31, |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |
Stock options |  | $ | 2,756 |  |  | $ | 359 |
Time-based restricted stock awards and units |  |  | 9,846 |  |  |  | 2,170 |
Market-based / performance-based restricted stock units |  |  | — |  |  |  | 1,444 |
Stock purchase plan |  |  | 418 |  |  |  | 359 |
Total |  | $ | 13,020 |  |  | $ | 4,332 |
Pursuant to the Merger Agreement, the equity awards of SeaSpine (including stock options and restricted stock units) outstanding as of immediately prior to the closing of the Merger were converted into equity awards denominated in shares of Orthofix common stock. The Company issued options to purchase 1,889,812 shares of Orthofix common stock and 490,338 shares of time-based vesting restricted stock in connection with the conversion of such awards. The estimated fair value of the portion of the SeaSpine equity awards for which the required service period had been completed at the time of the closing of the Merger was treated as purchase consideration. The remaining estimated fair value is recorded as compensation expense over the remainder of the service period associated with the awards.

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