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SHARE-BASED PAYMENTS
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED PAYMENTS SHARE-BASED PAYMENTS
2021 Stock Incentive Plan
On May 27, 2021, the 2021 Stock Incentive Plan (the “2021 Plan”) replaced the Amended and Restated 2009 Stock Incentive Plan (the “2009 Plan”) and replaced the FBR & Co. 2006 Long-Term Stock Incentive Plan (the “FBR Stock Plan”). Equity awards previously granted or available for issuance under the 2009 Plan and FBR Stock Plan are now included in the 2021 Plan activity reported below.
Share-based compensation expense for RSUs under the 2021 Plan was:
Year Ended December 31,
202420232022
Share-based compensation expense for RSUs for continuing operations$18,169 $41,182 $57,180 
Share-based compensation expense for RSUs for discontinued operations605 2,471 3,340 
Total share-based compensation expense for RSUs
$18,774 $43,653 $60,520 
During the year ended December 31, 2024, in connection with employee stock incentive plans the Company granted 1,223,263 RSUs with a total grant date fair value of $16,181. During the year ended December 31, 2023, in connection with employee stock incentive plans the Company granted 537,168 RSUs with a total grant date fair value of $20,496.
The RSUs generally vest over a period of one to five years based on continued service. Performance based restricted stock units ("PRSUs") generally vest based on both the employee’s continued service and the Company’s common stock price, as defined in the grant, achieving a set threshold during the two to three-year period following the grant. In determining the fair value of RSUs on the grant date, the fair value is adjusted for expected dividends based on historical patterns and the Company’s anticipated dividend payments over the expected holding period, and the risk-free interest rate based on U.S. Treasuries for a maturity matching the expected holding period.
As of December 31, 2024, the expected remaining unrecognized share-based compensation expense of $19,116 was to be expensed over a weighted average period of 1.9 years. As of December 31, 2023, the expected remaining unrecognized share-based compensation expense of $36,497 was to be expensed over a weighted average period of 1.3 years.
A summary of equity incentive award activity during the years ended December 31, 2024 and 2023 was as follows:
Shares Weighted
Average
Fair Value
Nonvested at December 31, 2022
3,375,627 $54.66 
Granted537,168 38.16 
Vested(1,615,025)62.63 
Forfeited(156,441)45.13 
Nonvested at December 31, 2023
2,141,329 $54.18 
Granted1,223,263 13.23 
Vested(484,442)53.56 
Forfeited(1,467,845)52.10 
Nonvested at December 31, 2024
1,412,305 $22.43 
During the years ended December 31, 2024, 2023, and 2022, the per-share weighted average grant-date fair value of RSUs granted was $13.23, $38.16, and $53.49, respectively. During the years ended December 31, 2024, and 2023, the per-share weighted average grant-date fair value of performance stock units granted was zero. During the year ended December 31, 2022, the per-share weighted average grant-date fair value of PRSUs granted was $38.95. During the years ended December 31, 2024, 2023, and 2022, the total fair value of shares vested was $25,945, $23,432, and $21,132, respectively.

As discussed in Note 3, there were 215,876 stock options with a fair value of $5,749 issued as part of the consideration for the purchase price of Targus. All of these options were exercised during the fourth quarter of 2022 and there were no stock options outstanding as of December 31, 2024 and 2023.