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Stock Incentive Plan | 3 Months Ended
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Mar. 31, 2024
Stockholders' Equity Note [Abstract] |
Stock Incentive Plan |
12. | STOCK INCENTIVE PLAN
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 three months ended March 31, 2024 primarily relate to activity associated with the Stock Incentive Plan, the ESPP and shares withheld for taxes. Share Grants—During the three months ended March 31, 2024, the Company granted the following awards under the Stock Incentive Plan:
|  | Shares |  | Weighted Average Grant-Date Fair Value per Share
RSUs |  | 43 |  |  | $ | 93.05 |
PSUs – EPS Based (at target) |  | 39 |  |  | $ | 89.45 |
PSUs – Market Based |  | 169 |  |  | $ | 64.29 |
PSUs – Liability Based |  | 30 |  |  | $ | 106.22 |
Total shares granted |  | 281 |  |  |
Share Issuances—During the three months ended March 31, 2024, the Company issued the following shares under the Stock Incentive Plan and the ESPP:
|  | Shares
RSUs (issued upon vesting) |  | 3 |
PSUs – EPS Based (issued upon vesting) |  | 321 |
PSUs – Liability Based (issued upon vesting) |  | 30 |
ESPP (issued upon sale) |  | 4 |
Total shares issued |  | 358 |
Stock-Based Compensation—During the three months ended March 31, 2024 and 2023, the Company recognized $4,048 and $2,761, respectively, of stock-based compensation expense, primarily within general and administrative expenses. Included within total stock-based compensation expense for the three months ended March 31, 2024 and 2023 i s $66 and $38, respectively, of expense related to the ESPP. Additionally, the Company has liability-based PSUs for which the number of shares awarded is not determined until the vesting date. During the three months ended March 31, 2024 and 2023, the Company recognized $3,200 and $1,725, respectively, within additional paid in capital for the vesting of liability-based PSUs. The Company recognizes forfeitures as they occur, rather than estimating expected forfeitures. Shares Withheld for Taxes—The Company withheld 124 shares for taxes on RSU and PSU stock-based compensation vestings for $13,015 during the three months ended March 31, 2024.

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