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Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Restricted Stock Unit, Activity

A summary of changes in the common shares subject to nonvested PBRSUs for the years ended December 31, 2024 and 2023 follows. PBRSUs herein represent the maximum number of nonvested PBRSUs. The fair value of the PBRSUs was determined using the quoted price of Park stock on the date of grant.

			Common shares subject to PBRSUs			Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2023			199,650			$	108.97
Granted			54,698			140.53
Vested			(62,815)			94.09
Forfeited			(4,597)			130.20
Adjustment for performance conditions of PBRSUs (1)			—			—
Nonvested at December 31, 2023			186,936			$	122.68
Granted			59,165			$	131.30
Vested			(58,056)			103.70
Forfeited			(2,025)			135.55
Adjustment for performance conditions of PBRSUs (1)			—			—
Nonvested at December 31, 2024 (2)			186,020			$	131.20

(1) The number of PBRSUs earned depends on the level of achievement with respect to certain performance criteria. Adjustment herein represents the difference between the maximum number of common shares which could be earned and the actual number earned for those PBRSUs as to which the performance period was completed.

(2) Nonvested amount herein represents the maximum number of nonvested PBRSUs. As of December 31, 2024, an aggregate of 184,186 PBRSUs are expected to vest.

A summary of awards that vested during the twelve months ended December 31, 2024 and 2023 follows:

						Twelve Months Ended December 31,
						2024						2023
PBRSUs and TBRSUs vested						58,056						62,815
Common shares withheld to satisfy employee income tax withholding obligations						22,895						23,973
Net common shares issued						35,161						38,842

Share-based Payment Arrangement, Nonvested Award, Cost

The following table details expected additional share-based compensation expense related to PBRSUs outstanding at December 31, 2024:

(In thousands)
2025						$	4,978
2026						3,284
2027						1,376
2028						222
Total						$	9,860

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- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

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-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

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Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

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-Topic 718
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-Subparagraph (i)
-Name Accounting Standards Codification
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