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STOCK-BASED COMPENSATION | 9 Months Ended
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Sep. 30, 2023
STOCK-BASED COMPENSATION |
STOCK-BASED COMPENSATION | NOTE 16. STOCK-BASED COMPENSATION The Compensation Committee of our Board administers our stock plans. As of September 30, 2023, we have two active stock-based incentive compensation plans: the 2023 Omnibus Incentive Plan (“the 2023 Plan”) and the Employee Stock Purchase Plan (“ESPP”). The 2023 Plan was approved on April 27, 2023. We issue all new equity compensation grants under these two plans; however, outstanding awards previously issued under inactive plans will continue to vest and remain exercisable in accordance with the terms of the respective plans. The 2023 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, stock units, unrestricted stock, and dividend equivalent rights. Any of the awards issued may be issued as performance-based awards to align stock compensation awards to the attainment of annual or long-term performance goals. The following table summarizes information related to our stock-based incentive compensation plans: ​
​ | ​ | ​
​ | ​ | September 30, 2023
Shares available for future issuance under the 2023 Plan | ​ | 2,318
Shares available for future issuance under the ESPP | ​ | 598
​ Generally, we grant restricted stock units (“RSUs”) with a three year time-based vesting schedule. Certain RSUs contain performance-based or market-based vesting conditions in addition to the time-based vesting requirements. RSUs are generally granted with a grant date fair value based on the market price of our stock on the date of grant. Generally, we grant stock option awards with an exercise price equal to the market price of our stock at the date of grant and with either a three or four-year vesting schedule or performance-based vesting. Stock option awards generally have a term of ten years. We recognize stock-based compensation expense based on the fair value of the awards issued and the functional area of the employee receiving the award. Stock-based compensation was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
Stock-based compensation expense | ​ | $ | 8,075 | ​ | $ | 6,022 | ​ | $ | 22,813 | ​ | $ | 15,008
​ Changes in our RSUs were as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, 2023
​ |  | ​ |  | Weighted-
​ | ​ | ​ | ​ | Average
​ | ​ | Number of | ​ | Grant Date
​ | ​ | RSUs | ​ | Fair Value
RSUs outstanding at beginning of period |  | 803 | ​ | $ | 78.46
RSUs granted |  | 397 | ​ | $ | 100.15
RSUs vested |  | (203) | ​ | $ | 85.60
RSUs forfeited |  | (51) | ​ | $ | 78.35
RSUs outstanding at end of period |  | 946 | ​ | $ | 85.91
​ Changes in our stock options were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, 2023 | ​
​ |  | ​ |  | Weighted- |
​ | ​ | ​ | ​ | Average | ​
​ | ​ | Number of | ​ | Exercise Price | ​
​ | ​ | Options | ​ | per Share | ​
Options outstanding at beginning of period |  | 151 | ​ | $ | 55.48 | ​
Options exercised |  | (62) | ​ | $ | 24.67 | ​
Options outstanding at end of period |  | 89 | ​ | $ | 76.69 | ​
​

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