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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Activity

Restricted stock activity for the year ended December 31, 2024 and the three months ended March 31, 2025 was as follows:

 

 

RSA

 

Weighted Average
Grant Price

 

PRSU

 

Weighted Average
Grant Price

 

RSU

 

Weighted Average
Grant Price

 

Total

 

Weighted Average
Grant Price

Nonvested balance as of December 31, 2023

 

71,951

 

$28.53

 

56,155

 

$35.70

 

56,987

 

$33.97

 

185,093

 

$32.38

Granted (1)

 

 

 

27,614

 

34.76

 

65,717

 

30.43

 

93,331

 

31.71

Vested

 

(35,131)

 

26.86

 

(34,139)

 

25.43

 

(33,716)

 

21.25

 

(102,986)

 

24.57

Forfeited

 

(7,924)

 

29.75

 

 

 

(8,827)

 

36.25

 

(16,751)

 

33.18

Nonvested balance as of December 31, 2024

 

28,896

 

30.09

 

49,630

 

42.24

 

80,161

 

36.04

 

158,687

 

36.77

Granted (1)

 

 

 

11,950

 

63.61

 

36,375

 

52.11

 

48,325

 

54.96

Vested

 

(18,993)

 

28.43

 

 

 

(22,114)

 

36.04

 

(41,107)

 

32.52

Forfeited

 

 

 

 

 

 

 

 

Nonvested balance as of March 31, 2025

 

9,903

 

$33.57

 

61,580

 

$45.96

 

94,422

 

$42.38

 

165,905

 

$43.02

Unrecognized compensation cost (in thousands)

 

$256

 

 

 

$1,583

 

 

 

$3,511

 

 

 

$5,350

 

 

Weighted average remaining recognition period (in years)

 

0.85

 

 

 

2.17

 

 

 

2.49

 

 

 

2.42

 

 

(1)
The number of restricted shares/units shown includes the shares that would be granted if the target level of performance is achieved related to the PRSU. The number of shares actually issued may vary.
Share-based Payment Arrangement, Expensed and Capitalized, Amount

Share-based compensation expense related to restricted stock and ESPP included in the unaudited Consolidated Statements of Income was as follows:

 

 

For the Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Share-based compensation expense

 

$

651

 

 

$

665