SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

11. SHARE-BASED COMPENSATION

Restricted and Performance Stock Units

Under the Company's 2013 Stock Compensation Plan, the Company awards restricted stock units ("RSUs") and performance stock units ("PSUs") to our non-officer directors and certain senior management personnel. The awards typically vest over a two, three or five year period from the date of grant and are subject to forfeiture until performance and employment targets are achieved. Compensation expense is typically measured as the market price of the stock awards on the grant date, and is recognized over the specified vesting periods.

The table below presents the activity of RSUs and PSUs for the three months ended March 31, 2023:


(dollars in thousands, except per share data)	Shares	Weighted Average Grant Date Fair Value		Fair Value of RSUs and PSUs That Vested During the Period
Non-vested RSUs and PSUs, beginning of period	352,465	$	23.40
Changes during the period:
Granted	111,680	23.05
Forfeited	(46,801)	25.17
Vested	(128,350)	23.17		$	3,017
Non-vested RSUs and PSUs, end of period	288,994	23.08