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STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Restricted Stock Activity | The following tables summarizes activity for the nine months ended September 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 |
Granted | — |  |  | — |  |  | — |  |  | — |
Vested | (41,361) |  |  | 69.92 |  |  | — |  |  | — |
Forfeited/canceled | (3,386) |  |  | 117.56 |  |  | — |  |  | — |
Unvested shares as of September 30, 2024 | 167,210 |  |  | $ | 115.64 |  |  | 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 |
Granted | 6,319 |  |  | 109.82 |  |  | — |  |  | — |
Vested | (46,823) |  |  | 67.17 |  |  | — |  |  | — |
Forfeited/canceled | (4,761) |  |  | 92.93 |  |  | (853) |  |  | 47.67 |
Unvested shares as of September 30, 2023 | 193,895 |  |  | $ | 83.88 |  |  | 257,971 |  |  | $ | 54.34 |
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 nine months ended September 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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