Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.21.2
Share-based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award Valuation Assumptions The following weighted average assumptions were used to estimate the fair value of the options granted during the six month periods ended June 30, 2021 and June 30, 2020:
June 30, 2021 June 30, 2020
Annualized volatility 66  % 43%
Risk-free interest rate 0.35  % 0.83  %
Expected life of options in years 4.0 years 3.0 years
Estimated forfeiture rate 8.8  % 13  %
Dividend rate 0.0  % 0.0%
Fair value per common share option $ 6.59  $ 5.20 
Schedule of Performance Shares Activity
The following table summarizes the equity award activity during the six months ended June 30, 2021:

June 30, 2021
Number of shares (in thousands) Weighted average exercise price $
Outstanding - Beginning of Period 14,486  11.35 
Granted 1,816  13.34 
Exercised (1,152) 5.55 
Cancelled/Forfeited (372) 14.37 
Outstanding - End of Period 14,778  13.56 
Vested and expected to vest - End of Period 1,812  13.90 
Options exercisable - End of Period 5,628  9.35 
Allocation of Share-Based Payments
The Company recognized share-based compensation expense for the three and six month periods ended June 30, 2021 and June 30, 2020 as follows:
Three months ended
June 30,
Six Months Ended
June 30,
(in thousands) June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
Research and development $ 1,089  $ 1,080  $ 2,163  $ 2,297 
Selling, general and administrative 6,548  3,122  13,189  5,401 
Capitalized under inventories 116  —  222  — 
Share-based compensation expense $ 7,753  $ 4,202  $ 15,574  $ 7,698