Equity Incentive Plans and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

A summary of shares available for grant under the Company’s plans is as follows:


	Shares Available for Grant
Total shares available for grant as of December 31, 2025		9,733,628
Nonvested equity stock and stock units granted (1)		(25,498	)
Nonvested equity stock and stock units forfeited (1)		375,092
Total shares available for grant as of March 31, 2026		10,083,222

(1)

For purposes of determining the number of shares available for grant under the 2015 Equity Incentive Plan against the maximum number of shares authorized, each restricted stock unit granted prior to April 27, 2023 reduces the number of shares available for grant by 1.5 shares and each restricted stock unit forfeited increases shares available for grant by 1.5 shares. Each restricted stock unit granted on or after April 27, 2023 reduces the number of shares available for grant by 1.0 share and each restricted stock unit forfeited increases shares available for grant by 1.0 share.

Schedule of Stock-Based Compensation Expenses

Stock-based compensation expense recorded in the Unaudited Condensed Consolidated Statements of Income was as follows:


	Three Months Ended March 31,
(In thousands)	2026		2025
Cost of revenue	$	139	$	162
Research and development		5,254		4,511
Sales, general and administrative		6,060		6,710
Total	$	11,453	$	11,383

Schedule of Nonvested Equity Stock and Stock Units Activity

The following table reflects the activity related to nonvested equity stock and stock units for the three months ended March 31, 2026:


Nonvested Equity Stock and Stock Units	Shares			Weighted- Average Grant-Date Fair Value
Nonvested as of December 31, 2025		2,881,829		$	51.91
Granted		25,498		$	107.35
Vested		(574,401	)	$	44.42
Forfeited		(140,113	)	$	47.39
Nonvested as of March 31, 2026		2,192,813		$	54.81