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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity Share Repurchase Program On November 10, 2021, the Board authorized and approved a share repurchase program for up to $50 million of the outstanding shares of the Company’s common stock, with no specified end date. During the three and six months ended June 30, 2023, 110 thousand shares in total were repurchased under this share repurchase program for $2.6 million. During the six months ended June 30, 2022, 362 thousand shares were repurchased under this share repurchase program for $5 million. No shares were repurchased during the three months ended June 30, 2022. The repurchased shares were retired by the Company upon receipt. As of June 30, 2023, there was $43.3 million of authorization remaining under this share repurchase program. On August 2, 2023, the Board approved expanding the Company’s share repurchase authorization from $50 million to $250 million. Incentive Plans The following table summarizes our compensation costs recognized in General and administrative expense (excluding depreciation) and Operating expense (excluding depreciation) under the Amended and Restated Par Pacific Holdings, Inc. 2012 Long-term Incentive Plan and Stock Purchase Plan (in thousands):
| Three months ended June 30, |  | Six months ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Restricted Stock Awards | $ | 2,656 |  |  | $ | 1,153 |  |  | $ | 4,052 |  |  | $ | 2,902 |
Restricted Stock Units | 477 |  |  | 338 |  |  | 984 |  |  | 1,011 |
Stock Option Awards | 523 |  |  | 525 |  |  | 937 |  |  | 1,761 |
During the three and six months ended June 30, 2023, we granted 102 thousand and 405 thousand shares of restricted stock and restricted stock units with a fair value of approximately $2.3 million. As of June 30, 2023, there were approximately $15.0 million of total unrecognized compensation costs related to restricted stock awards and restricted stock units, which are expected to be recognized on a straight-line basis over a weighted-average period of 1.7 years. During the six months ended June 30, 2023, we granted no stock option awards. As of June 30, 2023, there were approximately $2.8 million of total unrecognized compensation costs related to stock option awards, which are expected to be recognized on a straight-line basis over a weighted-average period of 1.6 years. During the six months ended June 30, 2023, we granted 90 thousand performance restricted stock units to executive officers, but no grants were made for the three months ended June 30, 2023. These performance restricted stock units had a fair value of approximately $2.5 million and are subject to certain annual performance targets based on three-year-performance periods as defined by our Board of Directors. As of June 30, 2023, there were approximately $2.6 million of total unrecognized compensation costs related to the performance restricted stock units, which are expected to be recognized on a straight-line basis over a weighted-average period of 2.4 years.

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