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Shareholders’ Equity and Stock Incentive Plans (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share Repurchase Activity
The Company did not repurchase any of its shares during the three and six months ended June 30, 2023. The following table includes the Company’s share repurchase activity for the three and six months ended June 30, 2024:
Three and Six Months Ended June 30,
2024
(In thousands, except per share data)
Shares repurchased (1)
989 
Total cost, including brokerage fees$29,530 
Average repurchase price per share (2)
$29.85 
(1)All repurchased shares were retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase price per share is calculated based on unrounded numbers.
Schedule of Stock Option Activity
The following table summarizes the Company’s stock option activity:
Stock Options
SharesWeighted-Average Exercise Price
Outstanding at January 1, 20241,911,354 $9.19 
Granted— $— 
Exercised(366,000)$9.38 
Cancelled— $— 
Expired— $— 
Outstanding at June 30, 20241,545,354 $9.14 
Exercisable at June 30, 20241,545,354 $9.14 
Schedule of RSU Activity
The following table summarizes the Company’s activity related to RSUs and PSUs:
RSUsPSUs
SharesWeighted-Average Grant Date Fair ValueShares Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2024428,762 $34.09 471,935 
(1)
$36.40 
Granted226,310 $33.65 131,906 
(2)
$34.06 
Vested(179,367)$37.71 (272,362)
(3)
$29.00 
Cancelled(8,162)$38.84 (42,568)
(4)
$41.83 
Outstanding at June 30, 2024467,544 $32.43 288,911 $41.33 
(1)    Includes PSUs granted in March 2021 (“2021 PSU Awards”) listed at 200% of the target (based on awards deemed “earned”), PSUs granted in March 2022 listed at 89.6% of the target (based on awards deemed “earned”) and PSUs granted in March 2023 (“2023 PSU Awards”) listed at 100% of the target.
(2)    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.
(3)    Represents 2021 PSU Awards that vested in March 2024 at 200% of the target PSUs.
(4)    The Company’s financial results for the performance goals applicable to the 2023 PSU Awards were certified during the three months ended March 31, 2024 and 69.3% of the target 2023 PSU Awards were deemed “earned.” This resulted in the reduction of the PSUs listed as granted in March 2023 to the number of PSUs eligible to vest from 120,825 to 83,724. In addition, 5,467 shares of 2023 PSU Awards were forfeited during the three months ended June 30, 2024.
Schedule of PSU Activity
The following table summarizes the Company’s activity related to RSUs and PSUs:
RSUsPSUs
SharesWeighted-Average Grant Date Fair ValueShares Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2024428,762 $34.09 471,935 
(1)
$36.40 
Granted226,310 $33.65 131,906 
(2)
$34.06 
Vested(179,367)$37.71 (272,362)
(3)
$29.00 
Cancelled(8,162)$38.84 (42,568)
(4)
$41.83 
Outstanding at June 30, 2024467,544 $32.43 288,911 $41.33 
(1)    Includes PSUs granted in March 2021 (“2021 PSU Awards”) listed at 200% of the target (based on awards deemed “earned”), PSUs granted in March 2022 listed at 89.6% of the target (based on awards deemed “earned”) and PSUs granted in March 2023 (“2023 PSU Awards”) listed at 100% of the target.
(2)    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.
(3)    Represents 2021 PSU Awards that vested in March 2024 at 200% of the target PSUs.
(4)    The Company’s financial results for the performance goals applicable to the 2023 PSU Awards were certified during the three months ended March 31, 2024 and 69.3% of the target 2023 PSU Awards were deemed “earned.” This resulted in the reduction of the PSUs listed as granted in March 2023 to the number of PSUs eligible to vest from 120,825 to 83,724. In addition, 5,467 shares of 2023 PSU Awards were forfeited during the three months ended June 30, 2024.