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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Restricted Stock Activity | A summary of equity award activity during 2024 is presented below:
|  | Restricted Stock (1) |  |  | Performance-Based Restricted Stock (1)(2) |  |  | Restricted Stock Units |  |  | Performance Based Restricted Stock Units |
|  | Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Shares |  |  | Weighted- Average Grant Date Fair Value |
Unvested outstanding beginning of year |  |  | 266,497 |  |  | $ | 2.73 |  |  |  | 142,395 |  |  | $ | 2.73 |  |  |  | 704,569 |  |  | $ | 10.33 |  |  |  | 329,234 |  |  | $ | 17.03 |
Granted |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |  |  |  | 649,177 |  |  | $ | 7.55 |  |  |  | 296,815 |  |  | $ | 11.85 |
Vested |  |  | (266,497 | ) |  | $ | 2.73 |  |  |  | (142,395 | ) |  | $ | 2.73 |  |  |  | (255,048 | ) |  | $ | 8.14 |  |  |  | — |  |  | $ | — |
Cancelled or forfeited |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |  |  |  | (36,654 | ) |  | $ | 10.28 |  |  |  | — |  |  | $ | — |
Unvested outstanding end of year |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |  |  |  | 1,062,044 |  |  | $ | 9.02 |  |  |  | 626,049 |  |  | $ | 14.58 |
Additional Information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average fair value per stock/unit granted in 2023 |  |  |  |  | $ | — |  |  |  |  |  | $ | — |  |  |  |  |  | $ | 10.87 |  |  |  |  |  | $ | 20.62 |
Weighted-average fair value per stock/unit granted in 2022 |  |  |  |  | $ | — |  |  |  |  |  | $ | — |  |  |  |  |  | $ | 13.15 |  |  |  |  |  | $ | 13.22 |
|  | Total Fair Value |  |  | Total Fair Value |  |  | Total Fair Value |  |  | Total Fair Value |
|  | In Thousands |
Stock/unit vested in 2024 |  |  |  | $ | 2,028 |  |  |  |  | $ | 1,084 |  |  |  |  | $ | 2,263 |  |  |  |  | $ | — |
Stock/unit vested in 2023 |  |  |  | $ | 3,485 |  |  |  |  | $ | 2,113 |  |  |  |  | $ | 1,343 |  |  |  |  | $ | — |
Stock/unit vested in 2022 |  |  |  | $ | 4,394 |  |  |  |  | $ | 4,976 |  |  |  |  | $ | - |  |  |  |  | $ | — |
_____________________________ (1) We did not grant any restricted stock or performance based restricted stock awards during 2024, 2023 or 2022. (2) Upon the change of control event occurring during 2021 such shares of performance-based restricted stock are subject only to the time-based vesting conditions set forth in the applicable award agreement and the 2016 Plan.
Summary of Valuation Assumptions of Market Condition PBRSUs |
|  | Valuation Date |
|  | January 17, 2024 |  |  | January 25, 2023 |  |  | January 20, 2022 |
Valuation assumptions of market condition PBRSUs |  |  |  |  |  |  |  |  |
Risk free rate |  |  | 4.03 | % |  |  | 3.77 | % |  |  | 1.34 | %
Volatility |  |  | 69.39 | % |  |  | 95.06 | % |  |  | 97.92 | %
Simulation period |  | 2.95 |  |  | 2.93 years |  |  | 2.92 years |
Fair value |  | $ | 11.85 |  |  | $ | 20.62 |  |  | $ | 15.94 |
Summary of Stock-based Compensation Expense Recognized and Related Income Tax Benefit | Stock-based Compensation Expense – A summary of our stock-based compensation expense recognized and related income tax benefit is presented below:
|  | Stock Based Compensation |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (In Thousands) |
Stock-based compensation expense - Cost of sales |  |  | 1,046 |  |  |  | 845 |  |  |  | 512 |
Stock-based compensation expense - Selling, general and administrative expense |  |  | 5,561 |  |  |  | 4,508 |  |  |  | 3,513 |
Income tax benefit |  |  | (1,548 | ) |  |  | (1,250 | ) |  |  | (947 | )

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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