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Equity Incentive Plan (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity Incentive Plan |
Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block] | A summary of the performance unit awards is as follows:
Date of Award |  | Number of Units Granted |  | Grant Date Fair Value |  | Conversion Range |  | Risk Free Interest Rate |  | Volatility
February 2020 (1) |  | 489,000 |  | $11.59 |  | 0% to 200% |  | 1.08% |  | 23.46%
February 2021 |  | 431,151 |  | $20.90 |  | 0% to 200% |  | 0.23% |  | 69.47%
February 2022 |  | 407,024 |  | $21.96 |  | 0% to 200% |  | 1.70% |  | 70.15%
February 2023 |  | 574,846 |  | $16.90 |  | 0% to 200% |  | 4.33% |  | 66.7%
(1) In February 2023, following the end of the measurement period, the Company met certain threshold criterion and the performance units converted into approximately 200,000 restricted shares. Half of the restricted shares vested immediately with the remaining half vesting in February 2024. As of September 30, 2023, there were approximately 100,000 unvested restricted shares related to the conversion of the performance units. The total fair value of the vested shares related to the conversion of the performance units (calculated as the number of vested shares multiplied by the vesting date share price) during the nine months ended September 30, 2023 was approximately $1.1 million.
Restricted share awards |
Equity Incentive Plan |
Summary of the unvested restricted shares | A summary of the unvested restricted shares as of September 30, 2023 is as follows:
| 2023
| Number of Shares |  | Weighted-Average Grant Date Fair Value
Unvested at January 1, 2023 | 2,267,870 |  |  | $ | 15.32 |
Granted | 991,453 |  |  | 10.84 |
Vested | (905,666) |  |  | 15.20 |
Forfeited | (25,828) |  |  | 13.13 |
Unvested at September 30, 2023 | 2,327,829 |  |  | $ | 13.48 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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