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Shareholders’ Equity and Stock Incentive Plans (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Share Repurchase Activity | The following table includes the Company’s share repurchase activity for the three months ended March 31, 2025. The Company did not repurchase any shares during the three months ended March 31, 2024.
| Three Months Ended March 31,
| 2025
(In thousands, except per share data) |
Shares repurchased (1) | 274 |
Total cost, including brokerage fees | $ | 7,617 |
Average repurchase price per share (2) | $ | 27.79 |
(1)All repurchased shares were retired and constitute authorized but unissued shares. Shares repurchased to settle employee tax withholding related to the vesting of RSUs or exercise of options are not included in the table above. (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 Dividends Declared | The dividends declared by the Board of Directors under this program as of March 31, 2025 were as follows:
Declaration Date |  | Record Date |  | Payment Date |  | Amount per Share |  | Aggregate Amount (in thousands)
February 27, 2024 |  | March 18, 2024 |  | April 4, 2024 |  | $ | 0.25 |  |  | $ | 7,237 |
May 2, 2024 |  | June 14, 2024 |  | July 2, 2024 |  | 0.25 |  |  | 7,107 |
August 6, 2024 |  | September 17, 2024 |  | October 2, 2024 |  | 0.25 |  |  | 6,962 |
November 5, 2024 |  | December 20, 2024 |  | January 7, 2025 |  | 0.25 |  |  | 6,641 |
February 25, 2025 |  | March 21, 2025 |  | April 2, 2025 |  | 0.25 |  |  | 6,631 |
Schedule of Stock Option Activity | The following table summarizes the Company’s stock option activity:
| Stock Options
| Shares |  | Weighted-Average Exercise Price
Outstanding at January 1, 2025 | 1,490,354 |  |  | $ | 9.19 |
Granted | — |  |  | — |
Exercised | (60,000) |  |  | 6.20 |
Cancelled | — |  |  | — |
Expired | — |  |  | — |
Outstanding at March 31, 2025 | 1,430,354 |  |  | $ | 9.32 |
Exercisable at March 31, 2025 | 1,430,354 |  |  | $ | 9.32 |
Schedule of RSU Activity | The following table summarizes the Company’s activity related to RSUs and PSUs:
|  | RSUs |  | PSUs
|  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2025 |  | 367,166 |  |  | $ | 37.67 |  |  | 159,481 |  | (1) | $ | 47.54 |
Granted |  | 206,841 |  |  | 26.17 |  |  | 163,732 |  | (2) | 26.17 |
Vested |  | (185,589) |  |  | 39.67 |  |  | (91,896) |  | (3) | 51.67 |
Cancelled |  | (1,089) |  |  | 34.86 |  |  | — |  |  | — |
Outstanding at March 31, 2025 |  | 387,329 |  |  | $ | 30.55 |  |  | 231,317 |  |  | $ | 30.61 |
(1) Includes PSUs granted in March 2022 (“2022 PSU Awards”) at 89.6% of the target (based on awards deemed “earned”) and PSUs granted in March 2023 (“2023 PSU Awards”) at 69.3% of the target (based on awards deemed “earned”). The PSUs granted in March 2024 were cancelled as of December 31, 2024 due to the Company not meeting its performance target for 2024. (2) The number of shares for the PSUs listed as granted represents the “target” number of PSUs issued 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 77,287 shares of the 2022 PSU Awards that vested in March 2025 at 89.6% of the target and 14,609 shares of the 2023 PSU Awards that were accelerated and vested in March 2025 at 69.3% of the target in connection with the retirement of the Company’s Chief Development Officer.
Schedule of PSU Activity | The following table summarizes the Company’s activity related to RSUs and PSUs:
|  | RSUs |  | PSUs
|  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2025 |  | 367,166 |  |  | $ | 37.67 |  |  | 159,481 |  | (1) | $ | 47.54 |
Granted |  | 206,841 |  |  | 26.17 |  |  | 163,732 |  | (2) | 26.17 |
Vested |  | (185,589) |  |  | 39.67 |  |  | (91,896) |  | (3) | 51.67 |
Cancelled |  | (1,089) |  |  | 34.86 |  |  | — |  |  | — |
Outstanding at March 31, 2025 |  | 387,329 |  |  | $ | 30.55 |  |  | 231,317 |  |  | $ | 30.61 |
(1) Includes PSUs granted in March 2022 (“2022 PSU Awards”) at 89.6% of the target (based on awards deemed “earned”) and PSUs granted in March 2023 (“2023 PSU Awards”) at 69.3% of the target (based on awards deemed “earned”). The PSUs granted in March 2024 were cancelled as of December 31, 2024 due to the Company not meeting its performance target for 2024. (2) The number of shares for the PSUs listed as granted represents the “target” number of PSUs issued 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 77,287 shares of the 2022 PSU Awards that vested in March 2025 at 89.6% of the target and 14,609 shares of the 2023 PSU Awards that were accelerated and vested in March 2025 at 69.3% of the target in connection with the retirement of the Company’s Chief Development Officer.
Schedule of Share-based Compensation Costs by Award Type | The following table summarizes share-based compensation expense by award type:
| Three Months Ended March 31,
(In thousands) | 2025 |  | 2024
Stock options | $ | — |  |  | $ | — |
RSUs | 2,108 |  |  | 1,839 |
PSUs | 782 |  |  | 1,202 |
Total share-based compensation expense | $ | 2,890 |  |  | $ | 3,041 |

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