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EMPLOYEE STOCK COMPENSATION
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
EMPLOYEE STOCK COMPENSATION EMPLOYEE STOCK COMPENSATION
On May 31, 2018, our stockholders approved the Company's 2018 Omnibus Stock Incentive Plan (“2018 Omnibus Plan”). The 2018 Omnibus Plan provides that the maximum number of shares available for awards is 4,417,882. As of September 30, 2022, 2,149,934 shares were available for future awards.
Stock-based Compensation Expense
The following table presents total stock-based compensation expense and the related tax benefits for the periods indicated:
Three Months Ended
September 30, 		Nine Months Ended
September 30,
($ in thousands)2022202120222021
Restricted stock awards and units$1,715 $1,106 $4,482 $3,988 
Related tax benefits$495 $326 $1,295 $1,175 

Total stock-based compensation expense represents the cost of time-based and performance-based stock units and awards. At September 30, 2022, unrecognized compensation expense related to restricted stock awards and restricted stock units totaled $13.0 million and will be recognized over a weighted average remaining period of 2.8 years.

Restricted Stock Awards and Restricted Stock Units
We have granted restricted stock awards and restricted stock units to certain employees, officers, and directors. The restricted stock awards and units are measured based on grant-date fair value. The restricted stock awards and units fully vest after a specified period (generally ranging from one to five years) of continued service from the date of grant plus, in some cases, the satisfaction of performance conditions. These performance targets include conditions relating to our profitability, stock price and regulatory standing. The actual amounts of stock released upon vesting will be determined by the Compensation Committee of our Board of Directors upon the Committee's certification of the satisfaction of the target level of performance. We recognize an income tax deduction in an amount equal to the taxable income reported by the holders of the restricted stock, generally upon vesting or, in the case of restricted stock units, when settled.
The following table presents unvested restricted stock awards and restricted stock units activity for the three and nine months ended September 30, 2022:
Three Months Ended
September 30, 2022		Nine Months Ended
September 30, 2022
Number of SharesWeighted Average Grant Date Fair Value Per ShareNumber of SharesWeighted
Average Grant
Date Fair Value
Per Share
Outstanding at beginning of period1,403,060 $14.77 649,010 $17.17 
Granted (1)
29,935 $13.88 1,051,117 $13.66 
Vested (2)
(29,983)$15.20 (269,302)$16.21 
Forfeited (3)
(10,919)$18.83 (38,732)$17.72 
Outstanding at end of period1,392,093 $14.71 1,392,093 $14.71 
(1)There were 17,759 and 782,451 performance-based shares/units included in shares granted for the three and nine months ended September 30, 2022.
(2)There were 17,657 and 42,440 performance-based shares/units included in vested shares for the three and nine months ended September 30, 2022.
(3)The number of forfeited shares included aggregate performance-based shares/units of zero and 9,428 for the three and nine months ended September 30, 2022.

Stock Options
There were no stock options granted during the three and nine months ended September 30, 2022. There were no unvested stock options as of September 30, 2022 and December 31, 2021. The following tables represents stock option activity for the three and nine months ended September 30, 2022:
Three Months Ended September 30, 2022
Nine Months Ended
September 30, 2022
($ in thousands, except per share data)Number
of Shares		Weighted-Average Exercise Price Per ShareNumber
of Shares		Weighted-Average Exercise Price Per ShareWeighted-Average Remaining Contract TermAggregate Intrinsic Value
Outstanding at beginning of period14,904 $13.05 14,904 $13.05 
Exercised— $— — $— 
Outstanding at end of period14,904 $13.05 14,904 $13.05 2.5 years$44 
Exercisable at end of period14,904 $13.05 14,904 $13.05 2.5 years$44 

Stock Appreciation Rights
In the first quarter of 2021, all of our then outstanding stock appreciation rights (“SARs”) were fully exercised resulting in the issuance of 305,772 shares of voting common stock. In connection with the exercise of the SARs, we recognized a tax benefit of $2.1 million (refer to Note 8 - Income Taxes) during the nine months ended September 30, 2021. There are no further outstanding SARs.