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Stock Incentive Plan And Other Equity Activity | 9 Months Ended
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Sep. 30, 2023
Stockholders' Equity Note [Abstract] |
Stock Incentive Plan And Other Equity Activity |
12. | STOCK INCENTIVE PLAN AND OTHER EQUITY ACTIVITY
General—The Company has a stock incentive plan (the “Stock Incentive Plan”) and an employee stock purchase plan (the “ESPP”) that are administered by the Compensation and Talent Development Committee of the Board of Directors. Under the Stock Incentive Plan, the Company can issue shares to employees and directors in the form of restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance share units (“PSUs”). Changes in common stock and additional paid in capital during the nine months ended September 30, 2023 primarily relate to activity associated with the Stock Incentive Plan, the ESPP and shares withheld for taxes. Share Grants—During the nine months ended September 30, 2023, the Company granted the following awards under the Stock Incentive Plan:
|  | Shares |  | Weighted Average Grant-Date Fair Value per Share
RSAs |  | 20 |  |  | $ | 40.26 |
RSUs |  | 97 |  |  | $ | 33.47 |
PSUs (at target) |  | 143 |  |  | $ | 34.62 |
Total shares granted |  | 260 |  |  |
Share Issuances—During the nine months ended September 30, 2023, the Company issued the following shares under the Stock Incentive Plan and the ESPP:
|  | Shares
RSAs (issued upon grant) |  | 20 |
RSUs (issued upon vesting) |  | 17 |
PSUs (issued upon vesting) |  | 306 |
ESPP (issued upon sale) |  | 15 |
Total shares issued |  | 358 |
Stock-Based Compensation—During the three and nine months ended September 30, 2023, the Company recognized $3,448 and $9,479, respectively, of stock-based compensation expense, and during the three and nine months ended September 30, 2022, the Company recognized $2,436 and $7,065, respectively, of stock-based compensation expense, primarily within general and administrative expenses. Included within total stock-based compensation expense for the three and nine months ended September 30, 2023 i s $42 and $116, respectively, of expense related to the ESPP, and during the three and nine months ended September 30, 2022, the Company recognized $27 and $94, respectively, of expense related to the ESPP. Additionally, the Company has liability-based awards for which the number of units awarded is not determined until the vesting date. During the three and nine months ended September 30, 2023, the Company recognized $0 and $1,725, respectively, within additional paid in capital for the vesting of liability-based awards. During the three and nine months ended September 30, 2022, the Company recognized $0 and $1,225, respectively, within additional paid in capital for the vesting of liability-based awards. The Company recognizes forfeitures as they occur, rather than estimating expected forfeitures. Shares Withheld for Taxes—The Company withheld 3 and 115 shares for taxes on RSU/PSU stock-based compensation vestings for $251 and $4,579 during the three and nine months ended September 30, 2023, respectively. AOCI—During the nine months ended September 30, 2022, we utilized a swap arrangement to hedge against interest rate variability associated with the Term Loan Facility until the swap contract expired on December 12, 2022. The Company had designated its interest rate swap as a cash flow hedging derivative and changes in fair value were recognized in other comprehensive income (loss) (“OCI”) until the underlying hedged item was recognized in earnings. The following table presents the total value recognized in OCI and reclassified from accumulated other comprehensive income (“AOCI”) into earnings during the three and nine months ended September 30, 2022 for derivatives designated as cash flow hedges:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, 2022 |  | September 30, 2022
|  | Before Tax |  | Tax |  | Net of Tax |  | Before Tax |  | Tax |  | Net of Tax
Net gain (loss) recognized in OCI |  | $ | 165 |  |  | $ | (38) |  |  | $ | 127 |  |  | $ | 2,122 |  |  | $ | (484) |  |  | $ | 1,638 |
Net amount reclassified from AOCI into earnings |  | (296) |  |  | 68 |  |  | (228) |  |  | 860 |  |  | (197) |  |  | 663 |
Change in other comprehensive income |  | $ | (131) |  |  | $ | 30 |  |  | $ | (101) |  |  | $ | 2,982 |  |  | $ | (681) |  |  | $ | 2,301 |

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