XML 27 R13.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Note 6 - Stock-based Compensation | 6 Months Ended
--- | ---
Jun. 30, 2024
Notes to Financial Statements |
Share-Based Payment Arrangement [Text Block] | 6. Stock-Based Compensation Pursuant to the Company’s 2005 Incentive Plan, as amended and restated, the Company may grant incentive stock options (employees only), non-statutory stock options, common stock awards, restricted stock, RSUs, stock appreciation rights and cash awards to non-employee directors and eligible employees. RSUs are generally granted at no cost to the recipient. RSUs generally vest ratably over three years or cliff vest after one or three years of continued employment from the date of the grant. While a portion of RSUs may be time-vesting awards, others may vest subject to the attainment of specified performance goals and are referred to as “performance-based RSUs.” All RSUs are subject to forfeiture until vested. Performance-based RSUs are granted at the target amount of awards. Based on the Company’s attainment of specified performance goals and consideration of market conditions, the number of shares that vest can be adjusted to a minimum of zero and to a maximum of 150% of the target. The amount of performance-based RSUs that are eligible to vest is determined at the end of each performance period and is then added together to determine the total number of performance shares that are eligible to vest. Performance-based RSUs generally cliff vest three years from the date of grant. Compensation costs for the time-based awards are based on the quoted market price of the Company’s stock at the grant date. Compensation costs associated with performance-based RSUs are based on grant date fair value, which considers both market and performance conditions. Compensation costs of both time-based and performance-based awards are recognized on a straight-line basis from the grant date until the vesting date of each grant. The following table presents RSU activity during the six months ended June 30, 2024:
|  | Time-Based RSUs |  |  | Performance-Based RSUs |
|  |  |  |  |  | Weighted-Average |  |  |  |  |  |  | Weighted-Average |
|  |  |  |  |  | Grant Date |  |  |  |  |  |  | Grant Date |
|  | Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Balance at December 31, 2023 |  |  | 194,389 |  |  | $ | 34.83 |  |  |  | 349,661 |  |  | $ | 32.94 |
Granted |  |  | 75,827 |  |  |  | 37.72 |  |  |  | 121,412 |  |  |  | 37.79 |
Vested |  |  | (41,186 | ) |  |  | 36.15 |  |  |  | (113,764 | ) |  |  | 36.91 |
Forfeited |  |  | (23,424 | ) |  |  | 41.97 |  |  |  | (17,395 | ) |  |  | 39.26 |
Balance at June 30, 2024 |  |  | 205,606 |  |  | $ | 34.82 |  |  |  | 339,914 |  |  | $ | 33.02 |
The compensation expense recorded for RSUs was $1.3 million and $1.4 million for the three months ended June 30, 2024, and 2023, respectively. For the six months ended June 30, 2024, and 2023, the compensation expense recorded for RSUs was $2.2 million and $3.0 million, respectively. Unrecognized stock-based compensation expense related to RSUs was $13.5 million and $5.9 million as of June 30, 2024, and 2023, respectively. As of June 30, 2024, these costs are expected to be recognized over the next 2.3 years for time-based and performance-based RSUs. As of June 30, 2024, 1,238,522 shares were available for future grants under the Company’s 2005 Incentive Plan, as amended and restated.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration