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Equity Compensation and Other Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Compensation Related Costs [Abstract]  
Schedule of Restricted Stock Units Activity
The following table presents information with respect to the Company’s RSUs during the years ended December 31, 2023, 2022 and 2021:
 
 For the Year Ended December 31, 2023
RSUs With
Service
Condition
Weighted
Average
Grant Date
Fair Value Per Share
RSUs With
Market and
Service
Conditions
Weighted
Average
Grant Date
Fair Value
Per Share
Total
RSUs
Total 
Weighted
Average 
Grant Date 
Fair Value
Per Share
Outstanding at beginning of year:921,308 $18.63 1,138,495 $15.76 2,059,803 $17.04 
Granted (1)
610,680 10.32 997,383 7.95 1,608,063 8.85 
Settled(146,440)27.90 (190,800)21.98 (337,240)24.55 
Cancelled/forfeited(65,489)13.44 (77,236)10.72 (142,725)11.97 
Outstanding at end of year1,320,059 $14.01 1,867,842 $11.16 3,187,901 $12.34 
RSUs vested but not settled at end of year635,595 $15.63 560,114 $13.61 1,195,709 $14.68 
RSUs unvested at end of year684,464 $12.52 1,307,728 $10.11 1,992,192 $10.94 
 
 For the Year Ended December 31, 2022
 RSUs With
Service
Condition
Weighted
Average
Grant Date
Fair Value
Per Share
RSUs With
Market and
Service
Conditions
Weighted
Average
Grant Date
Fair Value
Per Share
Total
RSUs
Total 
Weighted
Average 
Grant Date 
Fair Value
Per Share
Outstanding at beginning of year:712,160 $20.22 905,708 $17.14 1,617,868 $18.50 
Granted (2)
296,379 17.19 381,397 16.04 677,776 16.54 
Settled(66,125)29.56 (112,752)27.86 (178,877)28.49 
Cancelled/forfeited(21,106)17.63 (35,858)15.56 (56,964)16.33 
Outstanding at end of year921,308 $18.63 1,138,495 $15.76 2,059,803 $17.04 
RSUs vested but not settled at end of year394,996 $20.67 190,800 $21.98 585,796 $21.10 
RSUs unvested at end of year526,312 $17.10 947,695 $14.51 1,474,007 $15.43 
 
 For the Year Ended December 31, 2021
 RSUs With
Service
Condition
Weighted
Average
Grant Date
Fair Value
Per Share
RSUs With
Market and
Service
Conditions
Weighted
Average
Grant Date
Fair Value
Per Share
Total
RSUs
Total 
Weighted
Average 
Grant Date 
Fair Value
Per Share
Outstanding at beginning of year:457,376 $24.76 405,806 $25.03 863,182 $24.89 
Granted (3)
379,281 16.63 602,156 13.60 981,437 14.77 
Settled(124,497)25.98 (102,254)27.62 (226,751)26.72 
Outstanding at end of year712,160 $20.22 905,708 $17.14 1,617,868 $18.50 
RSUs vested but not settled at end of year285,734 $20.89 112,752 $27.86 398,486 $22.86 
RSUs unvested at end of year426,426 $19.77 792,956 $15.62 1,219,382 $17.07 

(1)The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs. In determining the fair value for 1,517,675 of these awards granted in 2023, the Company applied: (i) a weighted average volatility estimate of approximately 56%, which was determined considering historic volatility in the price of the Company’s and its peer group companies common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s and peer group companies’ common stock at the grant date; and (ii) a weighted average risk-free rate of 4.12% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of
the awards, respectively. The weighted average grant date fair value for the remaining 90,388 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $11.23. All of the 997,383 RSUs granted in 2023, the vesting of which is subject to both market and service conditions, are also subject to a one-year post-vesting holding requirement prior to settlement. To account for the estimated loss of value due to this holding restriction, a discount for lack of marketability is applied after the payout value is determined. There is no post vesting holding requirement on the 610,680 RSUs granted in 2023 the vesting of which is subject to a service condition only.
(2)The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs.  In determining the fair value for 603,525 of these awards granted in 2022, the Company applied:  (i) a weighted average volatility estimate of approximately 50%, which was determined considering historic volatility in the price of the Company’s and its peer group companies’ common stock over the three period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s and peer group companies’ common stock at the grant date; and (ii) a weighted average risk-free rate of 1.04% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards, respectively.  The weighted average grant date fair value for the remaining 74,251 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $13.67. All of the 381,397 RSUs with market and service conditions granted in 2022 are subject to a one-year post-vesting holding requirement. To account for the estimated loss of value due to this holding restriction, a discount for lack of marketability is applied after the payout value is determined. There is no post vesting holding requirement on the 296,379 RSUs granted in 2022 the vesting of which is subject to a service condition only.
(3)The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs. In determining the fair value for 621,312 and 306,134 of these awards granted in 2021, the Company applied: (i) a weighted average volatility estimate of approximately 48% and 54%, which was determined considering historic volatility in the price of the Company’s and its peer group companies’ common stock over the three-year and 2.5-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s and peer group companies’ common stock at the grant date; and (ii) a weighted average risk-free rate of 0.17% and 0.36% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards. The weighted average grant date fair value for the remaining 53,991 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $18.80. All of the 602,156 RSUs with market and service conditions granted in 2021 are subject to a one-year post-vesting holding requirement. To account for the estimated loss of value due to this holding restriction, a discount for lack of marketability is applied after the payout value is determined. There are no post vesting conditions on the 379,281 RSUs with service conditions granted in 2021.
Schedule of Expenses Related to Equity-Based Compensation
The following table presents the Company’s expenses related to its equity-based compensation instruments for the years ended December 31, 2023, 2022 and 2021:
 
 For the Year Ended December 31,
(In Thousands)202320222021
RSUs$15,035 $11,338 $9,043 
Restricted shares of common stock— — — 
Total$15,035 $11,338 $9,043 
Schedule of Expenses Related to Deferred Compensation Plans The following table presents the Company’s expenses related to its Deferred Plans for the years ended December 31, 2023, 2022 and 2021:
 
 For the Year Ended December 31,
(In Thousands)202320222021
Non-employee directors$586 $(1,133)$537 
Total$586 $(1,133)$537 
Schedule of Aggregate Income Deferred by Participants and Associated Liability Under Deferred Compensation Plans
The following table presents the aggregate amount of income deferred by participants of the Deferred Plans through December 31, 2023 and 2022 that had not been distributed and the Company’s associated liability for such deferrals at December 31, 2023 and 2022:
 
 December 31, 2023December 31, 2022
(In Thousands)
Undistributed
Income
Deferred (1)
Liability Under
Deferred Plans
Undistributed
Income
Deferred (1)
Liability Under
Deferred Plans
Non-employee directors$2,611 $2,404 $2,923 $1,953 
Total$2,611 $2,404 $2,923 $1,953 

(1)Represents the cumulative amounts that were deferred by participants through December 31, 2023 and 2022, which had not been distributed through such respective date.