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STOCK-BASED COMPENSATION PLANS | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Shareholders' Equity and Share-Based Payments | The Company operates the 2014 Omnibus Incentive Plan (the 2014 Plan), the 2018 Omnibus Incentive Plan (the 2018 Plan) and the 2023 Omnibus Incentive Plan (the 2023 Plan), all of which were approved by its shareholders. The purpose of these plans is to promote the success and enhance the value of the Company by providing a means for attracting and retaining highly skilled employees, officers and directors of the Company and linking their personal interests with those of the Company’s shareholders. Under these plans, the Company currently has outstanding awards of restricted stock shares and restricted stock units. The Company reserved 900,000 shares of its common stock for issuance under the 2014 Plan in connection with the exercise of awards. As of March 31, 2025, 589,417 restricted stock units have been granted under the 2014 Plan of which 150,197 restricted stock units were unvested. No further awards will be granted under the 2014 Plan. The Company reserved 900,000 shares of common stock for issuance under the 2018 Plan in connection with the exercise of awards. As of March 31, 2025, 822,942 restricted stock units have been granted under the 2018 Plan of which 237,836 restricted stock units were unvested. The Company reserved 625,000 shares of common stock for issuance under the 2023 Plan in connection with the exercise of awards. As of March 31, 2025, 4,927 restricted stock shares and 9,798 restricted stock units have been granted under the 2023 Plan, all of which were unvested. The expense associated with all restricted stock grants (including restricted stock shares and restricted stock units) was $2.2 million for both the three months ended March 31, 2025 and 2024. Unrecognized compensation expense for these awards as of March 31, 2025, was $10.7 million and will be recognized over a weighted average period of 11 months.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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