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Share-based compensation
9 Months Ended
Sep. 30, 2024
Share-based compensation.  
Share-based compensation

5.     Share-based Compensation

Stock appreciation rights (“SARs”)

Changes in the SARs for the nine months ended September 30, 2024 are set forth below in full numbers:

    

    

 

 

Weighted average 

    

No. of SARs

    

exercise price

Balance as of January 1, 2024

 

176,360

$

4.28

SARs granted during the nine months ended September 30, 2024

SARs exercised during the nine months ended September 30, 2024

(176,360)

$

(4.28)

Balance as of September 30, 2024 (none of which are exercisable or convertible)

 

-

$

-

Restricted stock units (“RSUs”)

Changes in the RSUs for the nine months ended September 30, 2024 are set forth below:

    

    

Weighted average

fair value at grant

No. of RSUs

date

Balance as of January 1, 2024

 

716,452

 

$

8.65

RSUs granted during the nine months ended September 30, 2024

182,069

$

17.97

RSUs vested during the nine months ended September 30, 2024

(531,753)

$

(8.34)

RSUs forfeited during the nine months ended September 30, 2024

Balance as of September 30, 2024 (none of which are vested)

 

366,768

$

13.73

The total cost related to non-vested RSU awards expected to be recognized through 2027 is set forth below in thousands of U.S. Dollars:

Period

    

TOTAL

2024(1)

$

660

2025

1,929

2026

842

2027

122

$

3,553

(1)Three-month period ending December 31, 2024