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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation The Company applies the fair value recognition provisions of ASC Topic 718: Stock Compensation. Stock-based compensation expense, net of forfeitures of $0.2 million and $0.2 million, was $3.6 million and $3.2 million for the three months ended June 30, 2023 and 2022, respectively. Stock-based compensation expense, net of forfeitures of $0.3 million and $0.8 million, was $6.7 million and $6.8 million for the six months ended June 30, 2023 and 2022, respectively. At June 30, 2023, the aggregate unrecognized compensation expense related to unvested equity awards was $29.0 million, which is expected to be recognized as compensation expense in fiscal years 2023 through 2026. A summary of stock option activity for the six months ended June 30, 2023 is below:
(in thousands, except for weighted average exercise price) | Options outstanding |  | Weighted average exercise price
Outstanding at January 1, 2023 | 1,029 |  |  | $ | 12.82 |
Exercised | (14) |  |  | 11.73 |
Canceled/forfeited | (12) |  |  | 13.11 |
Outstanding at June 30, 2023 | 1,003 |  |  | $ | 12.84 |
A summary of unvested restricted stock units activity for the six months ended June 30, 2023 is below:
(in thousands, except for weighted average award value) | Restricted Stock Unit Awards |  | Weighted average award value
Outstanding at January 1, 2023 | 512 |  |  | $ | 35.96 |
Granted | 620 |  |  | 34.30 |
Vested | (203) |  |  | 32.06 |
Canceled/forfeited | (49) |  |  | 39.20 |
Outstanding at June 30, 2023 | 880 |  |  | $ | 34.94 |

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