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Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of the unvested restricted shares
A summary of the unvested restricted shares is as follows:

 202320222021
 Number of
Shares
Weighted-Average
Grant Date Fair
Value
Number of
Shares
Weighted-Average
Grant Date Fair
Value
Number of
Shares
Weighted-Average
Grant Date Fair
Value
Unvested at January 1, 2,267,870 $15.32 2,380,283 $15.43 1,252,228 $15.17 
Granted 991,453 10.84 569,600 15.10 1,739,327 15.92 
Vested (928,192)15.07 (647,426)15.65 (513,342)16.51 
Forfeited(25,828)13.13 (34,587)13.15 (97,930)15.22 
Unvested at December 31,2,305,303 $13.52 2,267,870 $15.32 2,380,283 $15.43 
Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest
A summary of the performance unit awards is as follows:
Date of AwardNumber of
Units Granted

Grant Date Fair
Value
Conversion RangeRisk Free Interest RateVolatility
February 2020 (1)489,000$11.59
0% to 200%
1.08%23.46%
February 2021431,151$20.90
0% to 200%
0.23%69.47%
February 2022407,024$21.96
0% to 200%
1.70%70.15%
February 2023574,846$16.90
0% to 200%
4.33%66.70%
(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 December 31, 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 year ended December 31, 2023 was approximately $1.1 million.