XML 37 R28.htm IDEA: XBRL DOCUMENT v3.23.3

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Assumptions Used

The table below summarizes the assumptions used for the options granted during the nine months ended September 30, 2023 and 2022.

			For the Nine Months Ended September 30,
			2023						2022
Risk-free interest rate			3.6% - 4.0%						3.1%
Expected term in years			5.5 – 7.5						5.5 – 6.5
Expected volatility			43.9% – 44.9%						45.8% – 46.7%
Expected dividend yield			—						—

Stock Option Activity

The following summarizes stock option activity for the three months and nine months ended September 30, 2023:

			Stock Options						Weighted Average Exercise Price						Weighted Average Contractual Life (in years)						Aggregate Intrinsic Value
Outstanding at December 31, 2022			881,625						$	5.27					7.5						$	3,871,667
Options granted			124,906						8.64						9.6						—
Options exercised			(17,640)						2.45						0						120,229
Options forfeited			(8,903)						9.52						0						11,765
Outstanding at September 30, 2023			979,988						$	5.71					7.1						$	3,268,832
Options vested and exercisable at September 30, 2023			700,557						$	4.75					6.6						$	2,856,141

			Stock Options						Weighted Average Exercise Price						Weighted Average Contractual Life (in years)						Aggregate Intrinsic Value
Outstanding at June 30, 2023			981,467						$	5.72					7.4						$	3,546,581
Options exercised			(840)						4.13						0						4,133
Options forfeited			(639)						13.04						0						—
Outstanding at September 30, 2023			979,988						$	5.71					7.1						$	3,268,832
Options vested and exercisable at September 30, 2023			700,557						$	4.75					6.6						$	2,856,141

Pre-Tax and After-Tax Stock-Based Compensation Expense

The following tables present pre-tax and after-tax stock-based compensation expense recognized:

			For the Three Months Ended September 30,												For the Nine Months Ended September 30,
($ in thousands)			2023						2022						2023						2022
Pre-tax
Stock options			$	129					$	116					$	366					$	209
Restricted shares			370						192						1,183						238
Total			$	499					$	308					$	1,549					$	447
After-tax
Stock options			$	125					$	116					$	343					$	204
Restricted shares			278						192						1,055						238
Total			$	403					$	308					$	1,398					$	442

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration