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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Restricted Stock Activity | A summary of restricted stock activity is presented below:
| Number of Restricted Shares |  | Weighted Average Grant Price
Outstanding at January 1, 2022 | 952,971 |  |  | $5.74
Granted | 627,791 |  |  | $17.70
Vested | (549,363) |  |  | $5.67
Forfeitures | (65,341) |  |  | $8.85
Outstanding at December 31, 2022 | 966,058 |  |  | $13.34
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (In thousands, except per share data)
Fair value of vested restricted stock | $ | 11,080 |  |  | $ | 3,070 |  |  | $ | 2,852 |
Grant date weighted average fair value | $ | 17.70 |  |  | $ | 6.05 |  |  | $ | 5.38 |
Compensation expense recognized for restricted stock grants | $ | 4,171 |  |  | $ | 3,406 |  |  | $ | 3,247 |
Unrecognized compensation expense related to unvested shares | $ | 10,301 |  |  |  |  |
Expected recognition period | 2.3 years |  |  |  |
Summary of Significant Assumptions Used to Value PSUs | Significant assumptions used to value PSUs included:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Risk free interest rate | 3.6 | % |  | 0.3 | % |  | 0.3 | %
Range of implied volatility: |  |  |  |  |
Minimum | 50 | % |  | 37 | % |  | 39 | %
Maximum | 83 | % |  | 83 | % |  | 198 | %
Summary of PSU Activity | A summary of PSU activity is presented below:
| Number of PSUs |  | Weighted Average Grant Price
Outstanding at January 1, 2022 | 1,049,910 |  |  | $8.11
Granted | 237,407 |  |  | $25.92
Earned | (596,893) |  |  | $7.85
Forfeitures | (137,870) |  |  | $10.95
Outstanding at December 31, 2022 | 552,554 |  |  | $15.11
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (In thousands, except per unit data)
Number of PSUs granted | 237 |  |  | 221 |  |  | 232 |
Grant date fair value | $ | 6,023 |  |  | $ | 1,891 |  |  | $ | 1,943 |
Grant date fair value per unit | $ | 25.92 |  |  | $ | 8.56 |  |  | $ | 8.37 |
Compensation expense recognized for PSUs | $ | 2,439 |  |  | $ | 3,392 |  |  | $ | 3,217 |
Unrecognized compensation expense related to unvested shares | $ | 5,520 |  |  |  |  |
Expected recognition period | 2.3 years |  |  |  |

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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition 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. + References No definition available. + Details
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