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STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Share-Based Compensation Expense
The Company recorded compensation expense related to the awards granted under the LTIP as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Restricted stock units$1,561 $1,350 $4,628 $3,935 
Performance stock units728 373 1,468 375 
Stock options— — — 126 
Total stock-based compensation$2,289 $1,723 $6,096 $4,436 
Summary of Unrecognized Compensation Expense and Vesting Criterion As of September 30, 2021, unrecognized compensation expense will be amortized through the relevant periods as follows (in thousands):
Unrecognized Compensation ExpenseFinal Year of Recognition
Restricted stock units$8,886 2024
Performance stock units4,911 2023
$13,797 
The total number of PSUs granted was split as follows for the relevant grant years:
202120202019
TSR100 %67 %50 %
ROCE— %33 %50 %
Summary of the Status and Activity of Non-vested Restricted Stock A summary of the status and activity of non-vested restricted stock units for the nine months ended September 30, 2021 is presented below:
 Restricted Stock UnitsWeighted-Average Grant-Date Fair Value
Non-vested, beginning of year550,056 $20.30 
Granted178,567 34.35 
Vested(267,635)21.12 
Forfeited(23,586)17.25 
Non-vested, end of quarter437,402 $25.69 
Summary of the Status and Activity of Non-Vested Performance Stock A summary of the status and activity of performance stock units for the nine months ended September 30, 2021 is presented below:
 
Performance Stock Units(1)
Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year
185,588 $22.63 
Granted
64,258 68.99 
Vested
— — 
Forfeited
— — 
Non-vested, end of quarter249,846 $34.56 
___________________________
(1)The number of awards assumes that the associated performance condition is met at the target amount. The final number of shares of the Company's common stock issued may vary depending on the performance multiplier, which ranges from zero to two, depending on the level of satisfaction of the performance condition.
Summary of the Status and Activity of Non-Vested Units A summary of the status and activity of stock options for the nine months ended September 30, 2021 is presented below:
 Stock OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)
Outstanding, beginning of year72,368 $34.36 
Granted— — 
Exercised(21,878)34.36 
Forfeited(510)34.36 
Outstanding, end of quarter49,980 $34.36 5.6$677 
Number of options outstanding and exercisable49,980 $34.36 5.6$677