v3.24.1.u1
STOCK INCENTIVE PLAN AND STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2024
STOCK INCENTIVE PLAN AND STOCK-BASED COMPENSATION  
Summary of changes in stock options granted

The following table summarizes stock option activity for the three months ended March 31, 2024:

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​

​

​

​

​

​

​

​

​

    

​

    

​

​

    

Weighted-

​

​

​

​

Weighted-

​

Average

​

​

​

​

Average

​

Remaining

​

​

Number of

​

Exercise

​

Contractual

​

    

Awards

    

Price

    

Term

Awards outstanding—December 31, 2023

 

6,316,422

​

$

32.47

 

7.17

Awards issued

 

1,071,750

​

$

30.69

 

  

Awards exercised

 

(14,120)

​

$

8.22

 

  

Awards forfeited

 

(11,529)

​

$

39.31

 

  

Awards outstanding—March 31, 2024

 

7,362,523

​

$

32.25

 

7.35

Summary of changes in SARs granted

The following table summarizes SARs activity for the three months ended March 31, 2024:

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​

​

​

​

​

​

​

​

​

    

​

    

​

​

    

Weighted-

​

​

​

​

Weighted-

​

Average

​

​

​

​

Average

​

Remaining

​

​

Number of

​

Exercise

​

Contractual

​

    

Awards

    

Price

    

Term

Awards outstanding—December 31, 2023

 

43,208

​

$

9.38

 

5.32

Awards issued

 

—

​

$

—

 

  

Awards exercised

 

—

​

$

—

 

  

Awards forfeited

 

—

​

$

—

 

  

Awards outstanding—March 31, 2024

 

43,208

​

$

9.38

 

5.08

Summary of changes in RSUs granted

The following table summarizes RSU activity for the three months ended March 31, 2024:

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​

​

​

​

​

​

    

​

    

​

​

​

​

​

​

Weighted-

​

​

​

​

Average

​

​

Number of

​

Grant Date

​

    

Awards

    

Fair Value

Awards outstanding—December 31, 2023

 

330,000

​

$

31.53

Awards issued

 

387,500

​

$

30.69

Awards vested

 

(15,000)

​

$

29.03

Awards forfeited

 

(350)

​

$

30.69

Awards outstanding—March 31, 2024

 

702,150

​

$

31.08

Summary of assumptions used to value awards

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​

​

​

​

​

​

​

As of

​

    

March 31, 

    

December 31, 

​

​

    

2024

    

2023

​

Dividend yield

 

0.00

%  

0.00

%

Expected volatility

 

72.60 - 72.60

%  

74.87 - 80.78

%

Risk-free interest rate

 

4.06 - 4.20

%  

3.42 - 4.62

%

Lack of marketability discount

 

0.00

%  

0.00

%

Expected term (years)

 

2.01 - 6.11

 

2.26 - 10.77

​

Summary of stock-based compensation expense

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​

​

​

​

​

​

​

​

    

Three Months Ended March 31, 

​

    

2024

    

2023

Research and development expense

​

$

1,371

​

$

976

Sales and marketing expense

​

 

1,994

​

 

1,073

General and administrative expense

​

 

7,069

​

 

4,512

​

​

$

10,434

​

$

6,561