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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Share-based Compensation Expenses

The share-based compensation expense included in the determination of net earnings (loss) was:

 

Years ended December 31,

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred share units

 

$

11

 

 

$

(1

)

 

 

 

 

 

 

 

Performance share units

 

 

7

 

 

 

-

 

 

 

 

 

 

 

 

Restricted share units

 

 

10

 

 

 

5

 

 

 

 

 

 

 

 

Cash performance target

 

 

1

 

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

$

29

 

 

$

6

 

 

 

 

 

 

 

 

 

Summary of Equity-Settled Share-Based Payments
(b)
Equity-Settled Share-Based Payments

 

 

2024

 

 

2023

 

Years ended December 31,

 

Number of
options

 

 

TSX CAD
Weighted average
exercise price

 

 

Number of options

 

 

TSX CAD
Weighted average
exercise price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options outstanding, beginning of period

 

 

2,297,975

 

 

$

11.12

 

 

 

3,089,229

 

 

$

10.77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised1

 

 

(186,314

)

 

5.95

 

 

 

(217,845

)

 

 

5.87

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(118,935

)

 

8.45

 

 

 

(318,840

)

 

 

9.54

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

(466,403

)

 

15.33

 

 

 

(254,569

)

 

 

13.32

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options outstanding, end of period

 

 

1,526,323

 

 

$

10.67

 

 

 

2,297,975

 

 

$

11.12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable, end of period

 

 

1,237,006

 

 

$

11.54

 

 

 

1,589,639

 

 

$

12.52

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 The weighted average share price of options at the date of exercise for the year ended December 31, 2024, was CAD $10.42 (December 31, 2023 – CAD $8.16).

Summary of Options Outstanding and Exercisable

The following table summarizes options outstanding and exercisable at December 31, 2024:

 

 

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Range of exercise prices1

 

Number outstanding

 

 

Weighted average remaining life (years)

 

Weighted average exercise price

 

 

Number outstanding

 

 

Weighted average remaining life (years)

 

Weighted average exercise price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$5.51 – $6.68

 

 

323,237

 

 

2.62

 

$

5.51

 

 

 

212,730

 

 

2.62

 

$

5.51

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$6.69 – $13.07

 

 

519,320

 

 

3.32

 

8.53

 

 

 

340,510

 

 

3.17

 

8.89

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$13.08 – $16.12

 

 

683,766

 

 

1.19

 

14.74

 

 

 

683,766

 

 

1.19

 

14.74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

1,526,323

 

 

2.22

 

$

10.67

 

 

 

1,237,006

 

 

1.98

 

$

11.54

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 The range of exercise prices equal the weighted average market price of the Company’s shares on the five days preceding the effective date of the grant based on prices from the Toronto Stock Exchange ("TSX").

Deferred share units [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Share Units

 

 

 

 

TSX CAD

 

 

 

 

 

NYSE USD

 

DSUs outstanding

 

Number of DSUs

 

 

Weighted average
grant date fair
value per unit

 

 

Number of DSUs

 

 

Weighted average
grant date fair
value per unit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

1,560,110

 

 

$

10.45

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

259,563

 

 

8.66

 

 

 

12,711

 

 

6.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In lieu of dividends

 

 

22,566

 

 

7.16

 

 

 

122

 

 

5.72

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(396,062

)

 

10.01

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(1,220

)

 

5.89

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

1,444,957

 

 

$

10.20

 

 

 

12,833

 

 

$

6.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Phantom Share Entitlement Plan [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Share Units

PSEs outstanding

 

Number of PSEs

 

 

TSX CAD
Weighted average
grant date fair
value per unit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

158,913

 

 

$

12.61

 

 

 

 

 

 

 

 

Exercised

 

 

(28,770

)

 

6.72

 

 

 

 

 

 

 

 

Expired

 

 

(27,352

)

 

15.75

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

102,791

 

 

$

13.42

 

 

 

 

 

 

 

 

Performance share units [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Share Units

 

 

 

 

TSX CAD

 

 

 

 

 

NYSE USD

 

PSUs outstanding

 

Number of PSUs

 

 

Weighted average
grant date fair
value per unit

 

 

Number of PSUs

 

 

Weighted average
grant date fair
value per unit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

1,210,895

 

 

$

9.40

 

 

 

272,729

 

 

$

6.23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

378,438

 

 

 

7.98

 

 

 

185,842

 

 

 

5.88

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In lieu of dividends

 

 

15,996

 

 

 

7.18

 

 

 

3,641

 

 

 

5.34

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(274,113

)

 

 

7.67

 

 

 

(63,699

)

 

 

5.41

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(168,680

)

 

 

7.60

 

 

 

(46,887

)

 

 

6.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

1,162,536

 

 

$

9.58

 

 

 

351,626

 

 

$

6.18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted share units [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Summary of Share Units

 

 

 

 

TSX CAD

 

 

 

 

 

NYSE USD

 

RSUs outstanding

 

Number of RSUs

 

 

Weighted average
grant date fair
value per unit

 

 

Number of RSUs

 

 

Weighted average
grant date fair
value per unit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

1,773,592

 

 

$

6.79

 

 

 

728,591

 

 

$

6.24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

958,680

 

 

 

7.99

 

 

 

689,027

 

 

 

5.88

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In lieu of dividends

 

 

23,403

 

 

 

7.19

 

 

 

10,664

 

 

 

5.38

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(831,454

)

 

 

8.11

 

 

 

(275,857

)

 

 

5.80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(171,629

)

 

 

7.24

 

 

 

(122,038

)

 

 

6.14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

1,752,592

 

 

$

6.78

 

 

 

1,030,387

 

 

$

6.12