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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Stock-Based Compensation [Abstract] |
Summary of recognized stock-based compensation expense | The following table summarizes share-based compensation expense recognized:
|  | Years ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Restricted stock units |  | $ | 20,803 |  |  | $ | 16,425 |  |  | $ | 6,323 |
Phantom stock units |  |  | 118 |  |  |  | 107 |  |  |  | 222 |
Total |  | $ | 20,921 |  |  | $ | 16,532 |  |  | $ | 6,545 |
Summary of unrecognized compensation cost and weighted average remaining amortization periods | The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at December 31, 2024 (amortization periods in years):
|  | Unrecognized Compensation Cost |  |  | Weighted Average Remaining Amortization Periods |
Restricted stock units |  | $ | 25,410 |  |  |  | 2.2 |
Phantom stock units |  |  | - |  |  |  | - |
Total |  | $ | 25,410 |  |  |  |  |
Restricted stock units activity | RSU activity is presented below (number of RSUs in thousands):
| Years ended December 31, |
| 2024 |  | 2023 |  | 2022 |
| Number of RSUs |  | Weighted Average Grant-date Fair Value |  | Number of RSUs |  | Weighted Average Grant-date Fair Value |  | Number of RSUs |  | Weighted Average Grant-date Fair Value |
Outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 1,717 |  |  | $ | 23.03 |  |  |  | 894 |  |  | $ | 19.73 |  |  |  | 877 |  |  | $ | 20.08 |
Granted* |  |  | 1,665 |  |  |  | 20.39 |  |  |  | 1,180 |  |  |  | 24.34 |  |  |  | 336 |  |  |  | 19.13 |
Vested** |  |  | (613 | ) |  |  | 22.95 |  |  |  | (342 | ) |  |  | 18.86 |  |  |  | (306 | ) |  |  | 20.04 |
Cancelled or forfeited |  |  | (141 | ) |  |  | 23.14 |  |  |  | (15 | ) |  |  | 24.83 |  |  |  | (13 | ) |  |  | 20.50 |
End of year |  |  | 2,628 |  |  | $ | 21.37 |  |  |  | 1,717 |  |  | $ | 23.03 |  |  |  | 894 |  |  | $ | 19.73 |
Expected to vest |  |  | 1,876 |  |  |  |  |  |  |  | 1,702 |  |  |  |  |  |  |  | 894 |  |  |  |  |
* Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards. The liability awards are not material. The number of RSUs granted excludes these awards. ** The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.
RSUs with performance-based vesting criteria | RSUs with performance-based and market-based vesting criteria are expected to vest as follows (number of RSUs in thousands):
Vesting Date |  | Expected to Vest |  |  | Not Expected to Vest |  |  | Total |
January 1, 2025*** |  |  | 168 |  |  |  | - |  |  |  | 168 |
January 1, 2026 |  |  | - |  |  |  | 167 |  |  |  | 167 |
January 1, 2027 |  |  | - |  |  |  | 585 |  |  |  | 585 |
March 1, 2029 |  |  | 175 |  |  |  | - |  |  |  | 175 |
*** The performance vesting criteria for the performance-based RSUs with a vesting date of January 1, 2025 were achieved.
Phantom stock units activity under the 2007 Program | The following table summarizes the Company’s phantom stock units activity (number of phantom stock units in thousands):
| Years ended December 31, |
| 2024 |  | 2023 |  | 2022 |
| Number of Phantom Stock Units |  | Grant-date Fair Value per Unit |  | Number of Phantom Stock Units |  | Grant-date Fair Value per Unit |  | Number of Phantom Stock Units |  | Grant-date Fair Value per Unit |
Outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 120 |  |  |  |  |  | 226 |  |  |  |  |  | 212 |  |  |
Granted |  |  | 5 |  |  | $ | 23.51 |  |  |  | 5 |  |  | $ | 21.48 |  |  |  | 10 |  |  | $ | 22.20 |
Dividend equivalents issued |  |  | 3 |  |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 4 |  |  |  |  |
Redeemed for common stock* |  |  | - |  |  |  |  |  |  |  | (113 | ) |  |  |  |  |  |  | - |  |  |  |  |
End of year |  |  | 128 |  |  |  |  |  |  |  | 120 |  |  |  |  |  |  |  | 226 |  |  |  |  |
* The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

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