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

Weighted

    

Weighted

Average

Average

Aggregate

Exercise

Contractual 

Intrinsic

Number of

Price

Remaining Term

Value

shares

Per Share

(in years)

(in thousands)

Outstanding at January 1, 2024

2,730,068

$

20.88

 

6.29

$

10,638

Granted

 

 

 

 

  

Exercised

 

(134,959)

 

4.61

 

 

  

Forfeited, expired or cancelled

(26,014)

 

178.20

 

 

  

Outstanding at March 31, 2024

2,569,095

$

20.15

 

6.27

$

17,723

Exercisable at March 31, 2024

2,009,056

$

19.12

 

5.60

$

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:  

Derived

Hurdle Price

Number of

Fair Value

Service Period

Per PSU

PSUs

Per Share

(in years)

$

30.00

243,550

 

$

11.42-17.45

0.69-2.59

$

35.00

91,239

 

$

10.16-16.07

 

0.93-2.59

$

40.00

60,024

 

$

9.07-14.84

 

1.12-2.59

$

45.00

53,787

 

$

8.12-13.72

 

1.27-2.59

448,600

 

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

Derived

Hurdle Price

Number of

Fair Value

Service Period

Per Share

PSUs

Per Share

(in years)

$

30.00

160,078

 

$

18.42

0.74

$

35.00

53,350

 

$

17.24

0.96

$

40.00

32,835

 

$

16.14

1.15

$

45.00

28,737

$

15.13

1.31

275,000

 

Schedule of performance shares, outstanding activity

Weighted

Average

Grant Date

Number of

Fair Value

Unvested PSUs

Per Share

Unvested balance at January 1, 2024

448,600

$

15.40

Granted

 

275,000

 

17.58

Vested

 

 

Forfeited

 

Unvested balance at March 31, 2024

723,600

$

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):

Three Months Ended March 31, 

    

2024

    

2023

Total stock-based compensation expense included in G&A

$

2,856

$

1,570