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Shareholders’ Equity and Stock Incentive Plans (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes the Company’s stock option activity:
Stock Options
SharesWeighted-Average Exercise Price
Outstanding at January 1, 20222,141,494 $11.31 
Granted— $— 
Exercised(36,000)$9.80 
Cancelled— $— 
Expired— $— 
Outstanding at March 31, 20222,105,494 $11.33 
Exercisable at March 31, 20222,105,494 $11.33 
Summary of Activity Related To Time-based Restricted Stock Units (RSUs) and Performance-based Restricted Stock Units (PSUs)
The following table summarizes the Company’s activity related to time-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”):
RSUsPSUs
SharesWeighted-Average Grant Date Fair Value
Shares (1)
Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2022815,420 $18.17 705,577 
(2)
$13.84 
Granted97,447 $53.51 83,579 $53.51 
Performance adjustment— $— 534,383 
(3)
$— 
Vested(338,644)$15.79 (247,380)
(4)
$12.51 
Cancelled(18,693)$14.95 — $— 
Outstanding at March 31, 2022555,530 $25.93 1,076,159 $19.79 
(1) The number of shares for the PSUs listed as granted represents the “target” number of PSUs granted to each recipient eligible to vest if the Company meets its “target” performance goals for the applicable period. The actual number of
PSUs eligible to vest for those PSUs will vary depending on whether or not the Company meets or exceeds the applicable threshold, target, or maximum performance goals for the PSUs, with 200% of the “target” number of PSUs eligible to vest at “maximum” performance levels.
(2)    Includes 171,194 shares of PSUs granted in March 2019 that were certified below target during the three months ended March 31, 2021 and vested during the three months ended March 31, 2022. Also includes PSUs granted in March 2020 and March 2021 at “target.”
(3)    The Company’s financial results for the applicable performance goals were certified during the three months ended March 31, 2022 and 200% of the target PSUs granted in March 2020 and March 2021 were deemed “earned” and will be eligible to vest on March 14, 2023 and 2024, respectively.
(4)    Includes 171,194 shares of PSUs granted in March 2019 and 76,186 shares of PSUs granted in March 2020 that vested during the three months ended March 31, 2022.