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STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Restricted Stock Activity | The following tables summarizes activity for the six months ended June 30, 2024 and 2023:
| Number of Unvested Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Number of Unvested Performance Vesting Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Unvested shares as of January 1, 2024 | 193,602 |  |  | $ | 83.89 |  |  | 255,578 |  |  | $ | 54.40 |
Granted | 69,436 |  |  | 152.54 |  |  | 58,346 |  |  | 156.00 |
Vested | (17,720) |  |  | 75.96 |  |  | — |  |  | — |
Forfeited/canceled | (747) |  |  | 99.88 |  |  | — |  |  | — |
Unvested shares as of March 31, 2024 | 244,571 |  |  | $ | 103.91 |  |  | 313,924 |  |  | $ | 73.28 |
Granted(1) | 6,040 |  |  | 155.61 |  |  | 130,012 |  |  | 48.65 |
Vested | (37,665) |  |  | 95.83 |  |  | (265,797) |  |  | 48.65 |
Forfeited/canceled | (989) |  |  | 117.19 |  |  | — |  |  | — |
Unvested shares as of June 30, 2024 | 211,957 |  |  | $ | 106.75 |  |  | 178,139 |  |  | $ | 92.06 |
_____________________ (1) The table includes the impacts of performance share units granted in a prior year that vested higher than 100% of target due to the Company's TSR performance compared to peers.
| Number of Unvested Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Number of Unvested Performance Vesting Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Unvested shares as of January 1, 2023 | 197,772 |  |  | $ | 77.49 |  |  | 190,804 |  |  | $ | 52.15 |
Granted | 43,415 |  |  | 77.84 |  |  | 68,726 |  |  | 56.57 |
Vested | (11,608) |  |  | 70.86 |  |  | — |  |  | — |
Forfeited/canceled | (971) |  |  | 87.68 |  |  | (5,069) |  |  | 47.67 |
Unvested shares as of March 31, 2023 | 228,608 |  |  | $ | 77.85 |  |  | 254,461 |  |  | $ | 53.43 |
Granted | 55,041 |  |  | 94.53 |  |  | 15,094 |  |  | 66.66 |
Vested | (43,088) |  |  | 86.28 |  |  | — |  |  | — |
Forfeited/canceled | (1,401) |  |  | 89.08 |  |  | (10,731) |  |  | 50.69 |
Unvested shares as of June 30, 2023 | 239,160 |  |  | $ | 80.10 |  |  | 258,824 |  |  | $ | 54.32 |
Schedule of Grant Date Fair Value of Awards Granted | The table below summarizes the assumptions used in the Monte Carlo simulation to determine the grant date fair value of awards granted during the six months ended June 30, 2024:
Grant date | January 24, 2023 | March 3, 2023 | April 3, 2023 | March 1, 2024
Forecast period (years) | 3 | 3 | 3 | 3
Risk-free interest rates | 3.88% | 4.64% | 3.79% | 4.36%
Implied equity volatility | 87.2% | 86.4% | 70.8% | 46.70%
Stock price on the date of grant | $72.99 | $82.20 | $79.50 | $142.00

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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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