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Share Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Awards | The following table presents a summary of the Company’s unvested restricted stock awards:
| Number of Shares |  | Weighted- Average Grant Date Fair Value
| (In thousands) |  |
Unvested restricted shares outstanding at January 1, 2022 | 57 |  |  | $ | 5.26 |
Granted | 18 |  |  | $ | 18.93 |
Vested | (57) |  |  | $ | 5.26 |
Forfeited / Canceled | — |  |  | $ | — |
Unvested restricted shares outstanding at December 31, 2022 | 18 |  |  | $ | 18.93 |
Granted | 54 |  |  | $ | 13.85 |
Vested | (18) |  |  | $ | 18.93 |
Forfeited / Canceled | — |  |  | $ | — |
Unvested restricted shares outstanding at December 31, 2023 | 54 |  |  | $ | 13.85 |
Granted | 65 |  |  | $ | 13.20 |
Vested (1) | (65) |  |  | $ | 13.76 |
Forfeited / Canceled | — |  |  | $ | — |
Unvested restricted shares outstanding at December 31, 2024 | 53 |  |  | $ | 13.17 |
Totals may not sum or recalculate due to rounding |  |  |
____________________ (1) The aggregate intrinsic value of restricted stock that vested during 2024 was approximately $0.9 million based on the stock price at the time of vesting. The following table presents a summary of the Company’s unvested restricted stock units:
|  | Number of Units |  | Weighted- Average Grant Date Fair Value
|  | (In thousands) |  |
Unvested restricted stock units outstanding at January 1, 2022 |  | 406 |  |  | $ | 4.18 |
Granted |  | 39 |  |  | $ | 13.51 |
Vested |  | (175) |  |  | $ | 3.61 |
Forfeited / Canceled |  | (18) |  |  | $ | 5.51 |
Unvested restricted stock units outstanding at December 31, 2022 |  | 252 |  |  | $ | 5.93 |
Granted |  | 79 |  |  | $ | 15.13 |
Vested |  | (175) |  |  | $ | 4.33 |
Forfeited / Canceled |  | (18) |  |  | $ | 11.50 |
Unvested restricted stock units outstanding at December 31, 2023 |  | 138 |  |  | $ | 12.51 |
Granted |  | 96 |  |  | $ | 13.14 |
Vested (1) |  | (81) |  |  | $ | 10.85 |
Forfeited / Canceled |  | — |  |  | $ | — |
Unvested restricted stock units outstanding at December 31, 2024 |  | 153 |  |  | $ | 13.78 |
Totals may not sum or recalculate due to rounding |  |  |  |
____________________ (1) The aggregate intrinsic value of restricted stock units that vested during 2024 was approximately $1.1 million based on the stock price at the time of vesting. The following table presents a summary of the Company's performance share units:
|  | Number of Units |  | Weighted- Average Grant Date Fair Value
|  | (In thousands) |  |
Unvested performance share units outstanding at January 1, 2022 |  | 34 |  |  | $ | 5.01 |
Granted |  | 19 |  |  | $ | 13.51 |
Vested |  | (34) |  |  | $ | 5.01 |
Forfeited / Canceled |  | (2) |  |  | $ | 13.51 |
Unvested performance share units outstanding at December 31, 2022 |  | 17 |  |  | $ | 13.51 |
Granted |  | 19 |  |  | $ | 15.31 |
Vested |  | (17) |  |  | $ | 13.51 |
Forfeited / Canceled |  | (3) |  |  | $ | 15.31 |
Unvested performance share units outstanding at December 31, 2023 |  | 16 |  |  | $ | 15.31 |
Granted |  | 23 |  |  | $ | 13.63 |
Vested (1) |  | (16) |  |  | $ | 15.31 |
Forfeited / Canceled |  | — |  |  | $ | — |
Unvested performance share units outstanding at December 31, 2024 |  | 23 |  |  | $ | 13.63 |
Totals may not sum or recalculate due to rounding |  |  |  |
____________________ (1) The aggregate intrinsic value of performance share units that vested during 2024 was approximately $0.2 million.
Schedule of Weighted Average Assumptions | The fair value of stock options was estimated on the date of the grant using a Black-Scholes valuation model that used the weighted average assumptions noted in the following table. Expected volatility is based on historical volatility of the Company’s common stock and other factors. The Company uses historical data on the exercise of stock options, post-vesting forfeitures and other factors to estimate the expected term of the stock-based payments granted. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Generally, stock options granted to employees and directors vest ratably over three years from the grant date and expire seven years from the date of grant. There were no stock options granted during the years ended December 31, 2024, 2023 or 2022.
Assumptions |  |  |  | For the Year Ended December 31, 2021
Risk-free interest rate |  |  |  | 0.79 | %
Expected dividend yield |  |  |  | — | %
Expected volatility |  |  |  | 78.2 | %
Expected term |  |  |  | 5 years
Schedule of Stock Option Activity | The following table presents a summary of the Company's stock option activity for the years ended December 31, 2024, 2023 and 2022:
|  | Number of Shares |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Term(years) |  | Aggregate Intrinsic Value (in millions)
|  | (In thousands) |  |  |  |  |  |
Outstanding at January 1, 2022 |  | 324 |  |  | $ | — |  |  | 7.80 |  | $ | 0.80 |
Granted |  | — |  |  | — |  |  | — |  |  | — |
Exercised |  | (31) |  |  | $ | 17.53 |  |  | — |  |  | — |
Expired |  | — |  |  | — |  |  | — |  |  | — |
Forfeited / Canceled |  | (7) |  |  | — |  |  | — |  |  | — |
Outstanding at December 31, 2022 |  | 286 |  |  | $ | — |  |  | 7.64 |  | $ | 2.38 |
Exercisable at December 31, 2022 |  | 68 |  |  | $ | — |  |  | 6.49 |  | $ | 0.64 |
Outstanding at December 31, 2022 |  | 286 |  |  | $ | — |  |  | 7.64 |  | $ | 2.38 |
Granted |  | — |  |  | — |  |  | — |  |  | — |
Exercised |  | (36) |  |  | $ | 15.68 |  |  | — |  |  | — |
Expired |  | — |  |  | — |  |  | — |  |  | — |
Forfeited / Canceled |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at December 31, 2023 |  | 250 |  |  | $ | — |  |  | 7.66 |  | $ | 1.02 |
Exercisable at December 31, 2023 |  | 100 |  |  | $ | — |  |  | 7.66 |  | $ | 0.41 |
Outstanding at December 31, 2023 |  | 250 |  |  | $ | — |  |  | 7.66 |  | $ | 1.02 |
Granted |  | — |  |  | — |  |  | — |  |  | — |
Exercised |  | — |  |  | $ | — |  |  | — |  |  | — |
Expired |  | — |  |  | — |  |  | — |  |  | — |
Forfeited / Canceled |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at December 31, 2024 (1) |  | 250 |  |  | $ | — |  |  | 6.65 |  | $ | 0.53 |
Exercisable at December 31, 2024 |  | 150 |  |  | $ | — |  |  | 6.65 |  | $ | 0.32 |
Totals may not sum or recalculate due to rounding
____________________ (1) All outstanding stock options as of December 31, 2024 are expected to vest.
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The following tables summarize the Company's share and incentive-based compensation for the years ended December 31, 2024, 2023 and 2022 (in thousands):
|  | Recurring Compensation Expense (1) |  |  |  |  |  |  |  |
Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |
Equity-classified awards: |  |  |  |  |  |  |  |  |  |
Restricted stock awards and units |  | $ | 1,790 |  |  |  |  |  |  |  |  |
Performance share units |  | 264 |  |  |  |  |  |  |  |  |
Stock options |  | 300 |  |  |  |  |  |  |  |  |
Total share-based compensation expense |  | $ | 2,354 |  |  |  |  |  |  |  |  |
Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |
Equity-classified awards: |  |  |  |  |  |  |  |  |  |
Restricted stock awards and units |  | $ | 1,415 |  |  |  |  |  |  |  |  |
Performance share units |  | 229 |  |  |  |  |  |  |  |  |
Stock options |  | 301 |  |  |  |  |  |  |  |  |
Total share-based compensation expense |  | $ | 1,945 |  |  |  |  |  |  |  |  |
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |
Equity-classified awards: |  |  |  |  |  |  |  |  |  |
Restricted stock awards and units |  | $ | 997 |  |  |  |  |  |  |  |  |
Performance share units |  | 215 |  |  |  |  |  |  |  |  |
Stock options |  | 314 |  |  |  |  |  |  |  |  |
Total share-based compensation expense |  | $ | 1,526 |  |  |  |  |  |  |  |  |
____________________ (1)Recorded in general and administrative expense in the accompanying consolidated statements of operations.

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