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SHARE-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION | SHARE-BASED COMPENSATION Restricted Stock We issued equity-based awards from the 2016 Omnibus Plan. 2016 Omnibus Incentive Plan On June 16, 2023, our shareholders approved an amendment to the DXP Enterprises, Inc. 2016 Omnibus Incentive Plan (the “2016 Plan”) to increase the number of shares that can be issued under the 2016 Plan from 1,000,000 shares to a total of 1,250,000 shares, which represents an increase of 250,000 shares (the “Amendment”), which authorized grants of restricted stock awards, restricted stock units, performance awards, options, investment rights, and cash-based awards. Under the 2016 Plan approved by our shareholders, directors, consultants and employees may be awarded shares of the Company's common stock. The shares of restricted stock awards granted to employees that are outstanding as of December 31, 2023 vest in accordance with one of the following vesting schedules: 100% one year after the grant date; 50% each year for two years after the grant; 33.3% each year for three years after the grant date; 20% each year for five years after the grant date; or 10% each year for ten years after the date of grant. The shares of restricted stock awards granted to non-employee directors of the Company vest one year after the grant date. The fair value of restricted stock awards is measured based upon the closing prices of the Company's common stock on the grant dates and is recognized as compensation expense over the vesting period of the awards. Once restricted stock vests, new shares of the Company’s common stock are issued. At December 31, 2023, 489,178 shares were available for future grant. Changes in restricted stock awards for the twelve months ended December 31, 2023 are as follows:
| Number of Shares |  | Weighted Average Grant Price
Non-vested at December 31, 2022 | 157,767 |  |  | $ | 28.64 |
Granted | 215,554 |  |  | $ | 27.36 |
Forfeited | — |  |  | $ | — |
Vested | (68,884) |  |  | $ | 29.23 |
Non-vested at December 31, 2023 | 304,437 |  |  | $ | 27.60 |
Changes in restricted stock awards for the twelve months ended December 31, 2022 are as follows:
| Number of Shares |  | Weighted Average Grant Price
Non-vested at December 31, 2021 | 112,044 |  |  | $ | 31.72 |
Granted | 113,077 |  |  | $ | 27.48 |
Forfeited | (8,785) |  |  | $ | 31.96 |
Vested | (58,569) |  |  | $ | 31.79 |
Non-vested at December 31, 2022 | 157,767 |  |  | $ | 28.64 |
Changes in restricted stock awards for the twelve months ended December 31, 2021 are as follows:
| Number of Shares |  | Weighted Average Grant Price
Non-vested at December 31, 2020 | 166,976 |  |  | $ | 32.53 |
Granted | 53,668 |  |  | $ | 30.95 |
Forfeited | — |  |  | $ | — |
Vested | (108,600) |  |  | $ | 32.59 |
Non-vested at December 31, 2021 | 112,044 |  |  | $ | 31.72 |
Compensation expense, associated with restricted stock awards, recognized in the years ended December 31, 2023, December 31, 2022 and December 31, 2021 was $3.1 million, $1.9 million, and $1.8 million, respectively. Related income tax benefits recognized in earnings in the years ended December 31, 2023, December 31, 2022 and December 31, 2021 were approximately $0.8 million, $0.5 million and $0.5 million, respectively. The aggregate grant-date fair value of vested shares for the years ended December 31, 2023, December 31, 2022 and December 31, 2021 was $2.0 million, $1.9 million and $3.5 million, respectively. Unrecognized compensation expense under the 2016 Plan at December 31, 2023, December 31, 2022 and December 31, 2021 was $5.9 million, $3.1 million and $2.1 million, respectively. As of December 31, 2023, the weighted average period over which the unrecognized compensation expense is expected to be recognized is 2.8 years.

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