XML 56 R48.htm IDEA: XBRL DOCUMENT v3.25.3

Long-term Incentive Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Compensation Related Costs [Abstract]

Summary of long-term incentive compensation expense

the Company recognized long-term incentive compensation expense for all of its awards as shown below (in thousands):

		For the three months ended September 30,								For the nine months ended September 30,
		2025				2024				2025				2024
Stock-based compensation expense		$	3,281			$	1,966			$	8,623			$	5,263

Summary of stock option activity

The following table summarizes stock option activity for the nine months ended September 30, 2025 and provides information for outstanding and exercisable options as of September 30, 2025:

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life				Aggregate Intrinsic Value
						(per share)				(years)				(in thousands)
Outstanding at January 1, 2025			293,388			$	24.00
Granted			—				—
Exercised			(3,714	)			24.00
Forfeited or expired			—				—
Outstanding at September 30, 2025			289,674			$	24.00				6.3			$	345
Exercisable at September 30, 2025			177,040			$	24.00				6.2				211

Summary of restricted stock activity

The following table summarizes restricted stock unit activity for the nine months ended September 30, 2025 and provides information for unvested shares as of September 30, 2025:

		Number of Shares				Weighted Average Fair Value
						(per share)
Unvested at January 1, 2025			663,946			$	16.81
Granted			268,915				30.09
Vested			(242,073	)			17.16
Forfeited			(31,144	)			19.16
Unvested at September 30, 2025			659,644			$	21.98

Summary of assumptions fair value of options granted

The Company uses estimates of forfeitures to estimate the expected term of the grants. The reversal of any expense due to forfeitures is accounted for as they occur.

The table below describes the assumptions used to value the awards granted in 2025, 2024 and 2023:

						2024
		2025				March Grant				November Grant				2023
Risk-free interest rate			4.0	%			4.4	%			4.2	%			3.9	%
Expected volatility			46.6	%			50.6	%			41.9	%			58.0	%
Expected term		2.82 years				2.82 years				2.16 years				2.76 years

Summary performance unit activity

The following table summarizes performance unit activity for the nine months ended September 30, 2025 and provides information for unvested performance units (reflected at target performance) as of September 30, 2025:

		Number of Units				Weighted Average Fair Value
						(per unit)
Unvested at January 1, 2025			329,507			$	20.37
Granted			155,826				38.83
Vested			—				—
Forfeited			(4,170	)			22.25
Unvested at September 30, 2025			481,163			$	26.10

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationRelatedCostsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested performance-based units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration