SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

10. SHARE-BASED COMPENSATION

Restricted and Performance Stock Units

Under the Company's 2023 Stock Compensation Plan, restricted stock units ("RSUs") and performance stock units ("PSUs") were awarded to certain non-officer directors and management personnel. These awards typically vest over two-, three- or five-year periods from the grant date and are subject to forfeiture until performance and employment conditions are achieved.

Compensation expense is generally measured based on the market price of the Company's stock on the grant date, and is recognized over the applicable vesting period.

The following table presents the activities of RSUs and PSUs for the nine months ended September 30, 2025:


(dollars in thousands, except per share data)	Shares	Weighted Average Grant Date Fair Value Per Share		Fair Value of RSUs and PSUs That Vested During the Period
Non-vested RSUs and PSUs, beginning of period	284,151	$	22.48
Changes during the period:
Granted	108,246	30.12
Forfeited	(1,763)	29.05
Vested	(102,355)	25.45		$	3,032
Non-vested RSUs and PSUs, end of period	288,279	24.22