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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Valuation Assumptions
The following table summarizes the Company's significant assumptions used in the Monte Carlo simulation models:
At Grant Date
20242023
Volatility31.00%34.00%
Risk free interest rate4.42%4.45%
Dividend Yield3.40%3.20%
Schedule of Restricted Stock Unit Activity
The following table summarizes the Company's RSU activity during the three months ended March 31, 2024:
Unvested Time-
Based RSUs
Unvested Performance
and Market-Based RSUs
Weighted-Average Grant
Date Price Per Share
Outstanding as of January 1, 2024147,592 1,024,771 $19.36
Shares granted159,252 335,936 $19.39
Shares vested— (113,954)$28.90
Unearned performance shares added back to Share Limit— (82,665)$28.90
Shares forfeited(2,190)(17,360)$17.41
Outstanding as of March 31, 2024304,654 1,146,728 $18.24
Schedule of Company's Stock-Based Compensation Expense
The following table summarizes the Company's stock-based compensation expense:
Three months ended March 31
20242023
Incentive Award Plan, net (a)$2,156 $1,967 
Employee Stock Purchase Plan (b)35 — 
Stock-based compensation expense, net$2,191 $1,967 
(a)As of March 31, 2024, there was $16,868 of total estimated unrecognized compensation expense related to the Incentive Award Plan which will be recognized through December 2026.
(b)As of March 31, 2024, there was $183 of total estimated unrecognized compensation expense related to the ESPP which will be recognized through December 2025.