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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Options | The following table summarizes share activity related to stock options:
|  | Stock Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Fair Value |  |  | Remaining Average Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
|  | (in thousands) |  |  |  |  |  |  |  |  |  |  |  | (in thousands) |
Options Outstanding, December 31, 2022 |  |  | 897 |  |  | $ | 9.24 |  |  |  |  |  |  | 9.0 |  |  | $ | 77 |
Granted |  |  | 409 |  |  |  | 8.58 |  |  |  | 3.27 |  |  |  |  |  |  |
Options Outstanding, September 30, 2023 |  |  | 1,306 |  |  | $ | 9.03 |  |  |  |  |  |  | 8.6 |  |  | $ | — |
Summary of Assumptions Utilized in Valuation of Stock Option Awards | The following table summarizes the assumptions utilized in the valuation of the stock option awards granted in the nine months ended September 30, 2023:
Expected dividend rate |  |  | 1.4 | %
Expected stock price volatility |  |  | 28.8 | %
Risk-free interest rate |  |  | 4.0 | %
Expected term of options (years) |  |  | 10.0 |
Schedule of Restricted Stock Units Activity | The following table summarizes share activity related to RSUs:
|  | Restricted Stock Units |  |  | Weighted Average Grant Date Fair Value |
|  | (in thousands) |  |  |  |
Nonvested RSUs, December 31, 2022 |  |  | 3,115 |  |  | $ | 8.90 |
Granted |  |  | 1,750 |  |  |  | 8.39 |
Released |  |  | (630 | ) |  |  | 8.97 |
Forfeited |  |  | (37 | ) |  |  | 9.22 |
Performance-based share adjustment |  |  | 144 |  |  |  | 8.13 |
Nonvested RSUs, September 30, 2023 |  |  | 4,342 |  |  | $ | 8.66 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (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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