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Equity Incentive Plan (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of the unvested restricted shares
A summary of the unvested restricted shares as of March 31, 2025 is as follows:
 2025
 Number of
Shares
Weighted-Average
Grant Date
Fair Value
Unvested at January 1, 20251,589,289 $11.74 
Granted 957,876 8.98 
Vested(641,953)12.34 
Forfeited— — 
Unvested at March 31, 20251,905,212 $10.15 
Summary of Performance Unit Awards
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 2022 (1)407,024$21.96
0% to 200%
1.70%70.15%
February 2023574,846$16.90
0% to 200%
4.33%66.70%
February 2024703,325$15.13
0% to 200%
4.43%35.60%
March 2025832,322$11.45
0% to 200%
4.01%31.10%
(1) In February 2025, following the end of the measurement period, the Company met certain threshold criterion and the performance units converted into approximately 240,000 restricted shares, all of which vested immediately. 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 three months ended March 31, 2025 was approximately $2.1 million.