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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Share-Based Compensation Expense | The following table outlines the compensation expense recorded by type of award (in thousands):
| Three Months Ended March 31,
| 2022 |  | 2021
Restricted and deferred stock units | $ | 5,265 |  |  | $ | 1,321 |
Performance stock units | 2,825 |  |  | 291 |
Total stock-based compensation | $ | 8,090 |  |  | $ | 1,612 |
Summary of Unrecognized Compensation Expense and Vesting Criterion | As of March 31, 2022, unrecognized compensation expense related to the awards granted under the LTIP will be amortized through the relevant periods as follows (in thousands):
| Unrecognized Compensation Expense |  | Final Year of Recognition
Restricted and deferred stock units | $ | 21,532 |  |  | 2025
Performance stock units | 15,685 |  |  | 2024
Total unrecognized stock-based compensation | $ | 37,217 |  |  |
The total number of PSUs granted under the LTIP was split as follows for the relevant grant years:
| 2022 |  | 2021 |  | 2020
TSR | 100 | % |  | 100 | % |  | 67 | %
ROCE | — | % |  | — | % |  | 33 | %
Summary of the Status and Activity of Non-Vested RSUs, DSUs, and Options | A summary of the status and activity of non-vested RSUs and DSUs for the three months ended March 31, 2022 is presented below:
| RSUs and DSUs |  | Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year | 815,062 |  |  | $ | 42.18 |
Granted | 388,937 |  |  | 45.92 |
Vested | (444,556) |  |  | 48.25 |
Forfeited | (9,745) |  |  | 40.71 |
Non-vested, end of year | 749,698 |  |  | $ | 40.54 |
A summary of the status and activity of non-vested stock options for the three months ended March 31, 2022 is presented below:
| Stock Options |  | Weighted- Average Exercise Price |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, beginning of year | 25,549 |  |  | $ | 34.36 |  |  |  |  |
Exercised | (5,294) |  |  | 34.36 |  |  |  |  |
Forfeited | (111) |  |  | 34.36 |  |  |  |  |
Outstanding, end of year | 20,144 |  |  | $ | 34.36 |  |  | 5.1 |  | $ | 511 |
Options outstanding and exercisable | 20,144 |  |  | $ | 34.36 |  |  | 5.1 |  | $ | 511 |
Summary of the Status and Activity of PSUs | A summary of the status and activity of non-vested PSUs for the three months ended March 31, 2022 is presented below:
| PSUs (1) |  | Weighted-Average Grant-Date Fair Value
Non-vested, beginning of year | 319,367 |  |  | $ | 57.58 |
Granted | 129,676 |  |  | 56.43 |
Vested | (91,523) |  |  | 32.49 |
Expired | (41,955) |  |  | 22.77 |
Non-vested, end of year | 315,565 |  |  | $ | 69.01 |
___________________________ (1)The number of awards assumes that the associated performance condition is met at the target amount (multiplier of one). 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.

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