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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Allocation of Compensation Expense

Total stock-based compensation expense for the three and six months ended June 30, 2023 and 2022 was as follows:

						Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)						2023						2022						2023						2022
RSA expense						$	416					$	393					$	904					$	820
PSU expense						129						91						204						128
Total stock-based compensation expense						$	545					$	484					$	1,108					$	948

Schedule of Unrecognized Compensation Cost

The amount of unrecognized compensation cost as of June 30, 2023, and the expected weighted-average period over which the cost will be recognized is as follows:

						As of June 30, 2023
(in thousands, expect years)						Unrecognized Compensation Cost						Expected Weighted- Average Period of Recognition (in years)
RSA expense						$	2,418					2.24
PSU expense						930						2.24
Total unrecognized stock-based compensation expense						$	3,348					2.24

Schedule of Restricted Stock Activity

A summary of RSA activity under the Company's various stock compensation plans for the six months ended June 30, 2023 is presented below:

						Restricted Stock												Weighted-Average Grant Date Fair Value
Non-vested at January 1, 2023						652,962												$	5.58
Granted						498,541												$	1.97
Vested						(276,767)												$	5.62
Forfeited						(31,729)												$	4.63
Non-vested at June 30, 2023						843,007												$	3.46

Schedule of Performance Shares Units

A summary of PSU activity for the six months ended June 30, 2023 is presented below:

						Units						Weighted-Average Grant Date Fair Value						Aggregate Intrinsic Value (in thousands)						Weighted-Average Remaining Contractual Term (in years)
PSUs outstanding, January 1, 2023						148,591						$	7.85
Granted						231,242						2.48
Vested / Settled(1)						(41,855)						6.17
Forfeited / Canceled						—						—
PSUs outstanding, June 30, 2023						337,978						$	4.38					$	629					2.24

(1) The number of units shown in the table above are based on target performance. The final number of shares of common stock issued may vary depending on the achievement of market conditions established within the awards, which could result in the actual number of shares issued ranging from zero to a maximum of two times the number of units shown in the above table. For the three and six months ended June 30, 2023, no shares of common stock were issued upon vesting of PSUs.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

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-Topic 718
-SubTopic 10
-Subparagraph (i)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
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Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares.

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-Section 50
-Subparagraph (c)
-Paragraph 2
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