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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation |
10. | Stock-Based Compensation
The Company granted 305,041 shares of restricted stock with a weighted-average grant-date fair value of $77.61 per share and 322,159 shares of restricted stock with a weighted-average grant-date fair value of $60.31 per share during the three months ended March 31, 2025 and the three months ended March 31, 2024, respectively. The Company records stock-based compensation expense within General and administrative expenses in the accompanying Consolidated Statements of Operations, and recognizes forfeitures as they occur.
|  | Three months ended March 31, |
(in thousands) |  | 2025 |  |  | 2024 |
Restricted stock (1) |  | $ | 5,443 |  |  |  | 4,640 |
Directors' fees paid in common stock and other employee stock grants |  |  | 105 |  |  |  | 152 |
Capitalized stock-based compensation |  |  | (583 | ) |  |  | (434 | )
Stock-based compensation, net of capitalization |  | $ | 4,965 |  |  |  | 4,358 |
(1) In addition, during the three months ended March 31, 2024, the Company expensed $1.9 million within Other operating expenses in connection with vesting of restricted stock units related to the 2023 acquisition of UBP.

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