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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation

Share-based compensation expense was as follows (in thousands):

 

 

For the Years Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Share-based compensation expense recognized in:

 

 

 

 

 

 

 

 

 

Cost of products sold, excluding intangible asset amortization

 

$

557

 

 

$

1,230

 

 

$

2,437

 

Research and development

 

 

1,312

 

 

 

1,886

 

 

 

3,441

 

Selling, general and administrative

 

 

14,723

 

 

 

23,904

 

 

 

24,411

 

 

 

 

16,592

 

 

 

27,020

 

 

 

30,289

 

Tax benefit related to awards

 

 

(4,148

)

 

 

(6,836

)

 

 

(7,254

)

Total expense, net of tax

 

$

12,444

 

 

$

20,184

 

 

$

23,035

 

 

 

 

 

 

 

 

 

 

 

Summary of Stock Option Activity

Stock option activity was as follows:

 

 

 

Year Ended December 31, 2024

 

 

 

 

 

Weighted

 

 

Weighted Average

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

 

Stock Options

 

 

Price

 

 

Life (Years)

 

 

Value (in Millions)

 

Outstanding at December 31, 2023

 

 

2,303,143

 

 

$

26.83

 

 

 

 

 

 

 

Exercised

 

 

(1,117

)

 

 

18.58

 

 

 

 

 

 

 

Forfeited

 

 

(582,663

)

 

 

26.12

 

 

 

 

 

 

 

Outstanding at December 31, 2024

 

 

1,719,363

 

 

$

27.08

 

 

 

5.2

 

 

$

 

Exercisable at December 31, 2024

 

 

1,447,558

 

 

$

26.91

 

 

 

4.9

 

 

$

 

 

Summary of Restricted Stock Unit and Performance Restricted Stock Unit Activity

RSU and PRSU activity was as follows:

 

 

 

Year Ended December 31, 2024

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

Number of

 

 

Grant Date

 

 

RSUs

 

 

Fair Value

 

Outstanding at December 31, 2023

 

 

1,942,210

 

 

$

15.13

 

Granted

 

 

797,869

 

 

 

17.52

 

Vested

 

 

(578,129

)

 

 

19.98

 

Forfeited

 

 

(458,154

)

 

 

13.46

 

Outstanding at December 31, 2024

 

 

1,703,796

 

 

$

15.75