Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.24.1.u1
Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Stock Based Compensation  
Schedule of stock option activity

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Weighted

    

Weighted

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Average

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Average

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Aggregate

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Exercise

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Contractual 

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Intrinsic

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Number of

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Price

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Remaining Term

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Value

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shares

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Per Share

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(in years)

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(in thousands)

Outstanding at January 1, 2024

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2,730,068

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$

20.88

 

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6.29

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$

10,638

Granted

 

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—

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—

 

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Exercised

 

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(134,959)

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4.61

 

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Forfeited, expired or cancelled

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(26,014)

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178.20

 

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Outstanding at March 31, 2024

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2,569,095

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$

20.15

 

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6.27

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$

17,723

Exercisable at March 31, 2024

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2,009,056

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$

19.12

 

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5.60

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$

16,131

Schedule of grant date fair values of PSUs granted

The range of grant date fair values of the PSUs granted in 2023 was estimated as follows:  

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Derived

Hurdle Price

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Number of

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Fair Value

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Service Period

Per PSU

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PSUs

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Per Share

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(in years)

$

30.00

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243,550

 

$

11.42-17.45

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0.69-2.59

$

35.00

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91,239

 

$

10.16-16.07

 

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0.93-2.59

$

40.00

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60,024

 

$

9.07-14.84

 

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1.12-2.59

$

45.00

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53,787

 

$

8.12-13.72

 

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1.27-2.59

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448,600

 

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The grant date fair values of the PSUs granted in January 2024 was estimated as follows:  

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Derived

Hurdle Price

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Number of

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Fair Value

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Service Period

Per Share

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PSUs

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Per Share

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(in years)

$

30.00

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160,078

 

$

18.42

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​

0.74

$

35.00

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​

53,350

 

$

17.24

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0.96

$

40.00

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32,835

 

$

16.14

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1.15

$

45.00

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28,737

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$

15.13

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1.31

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275,000

 

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Schedule of performance shares, outstanding activity

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Weighted

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Average

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Grant Date

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Number of

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Fair Value

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Unvested PSUs

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Per Share

Unvested balance at January 1, 2024

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448,600

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$

15.40

Granted

 

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275,000

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17.58

Vested

 

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—

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—

Forfeited

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—

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—

Unvested balance at March 31, 2024

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723,600

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$

16.23

Summary of stock-based compensation expense The following table shows total stock-based compensation expense for stock options, PSUs and ESPP in the condensed consolidated statements of operations and comprehensive loss (in thousands):

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Three Months Ended March 31, 

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2024

    

2023

Total stock-based compensation expense included in G&A

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$

2,856

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$

1,570

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