Quarterly report [Sections 13 or 15(d)]

STOCK-BASED COMPENSATION

v3.26.1
STOCK-BASED COMPENSATION
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
We recorded stock-based compensation expense, including expenses related to the estimated achievement of the performance metrics of performance-based stock options (“PSOs”) granted during the three months ended March 31, 2026, and employee stock
purchase plan, as follows:
Three Months Ended March 31,
2026 2025
Stock-based compensation expense
$
4,176 
$
2,844 
Our stock-based compensation expense is included in selling, general and administrative expenses in the condensed consolidated statements of operations. As of March 31, 2026, there was $30,730 of unrecognized compensation expense related to non-vested stock option awards that is expected to be recognized over a weighted-average period of 2.7 years. This includes $4,946 of unrecognized compensation expense related to PSOs based on our current assessment of probability. There is an additional $17,123 of unrecognized compensation expense if the PSOs were to achieve 100% probability.
Stock Option and Restricted Stock Units (“RSUs”) Grants
During the three months ended March 31, 2026, we granted 519 common stock options to certain employees under our 2020 Stock Incentive Plan (“2020 Plan”), which have a contractual life of ten years and vest over a three or five-year period. We also granted awards of 104 RSUs to certain employees and directors under our 2020 Plan. RSUs for directors cliff vest after one year and RSUs for employees vest 25% every six months for two years. We did not grant awards to individuals who were not either an employee or director of ours during the three months ended March 31, 2026 and 2025.