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LONG-TERM INCENTIVE COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Restricted Stock Subject Only To A Service Condition Policy [Text Block] | Restricted Stock Subject Only to a Service Condition We calculate compensation cost for restricted stock grants by using the fair market value of our common stock at the date of grant, the number of shares issued and an adjustment for restrictions on dividends. This compensation cost is amortized on a straight-line basis over the applicable vesting period, with adjustments for forfeitures recorded as they occur.
Total Expense Recorded for Stock Based Compensation | The following table presents the total stock-based compensation expense recorded for stock-based compensation arrangements for the periods indicated (in thousands):
| Three Months Ended June 30, |  |
| 2024 |  | 2023 |  |  |  |
Service condition stock-based compensation expense |  |  | $ | 1,283 |  |  |  |  |
Performance condition stock-based compensation expense |  |  | 97 |  |  |  |  |
Stock-based compensation expense under the Plan | — |  |  | 1,380 |  |  |  |  |
Canadian Plan stock-based compensation expense | — |  |  | — |  |  |  |  |
Total stock-based compensation expense | $ | — |  |  | $ | 1,380 |  |  |  |  |
Restricted Stock Subject To Service And Performance Conditions Policy [Text Block] | Restricted Stock Subject to Service and Performance Conditions Under the Plan, certain key employees were provided agreements for grants of restricted shares that vest over multiple year periods subject to achieving annual performance goals established by the Compensation Committee of Westwood’s Board of Directors. Each year the Compensation Committee establishes specific goals for that year’s vesting of the restricted shares. The date that the Compensation Committee establishes annual goals is considered to be the grant date and the fair value measurement date to determine expense on the shares that are likely to vest. The vesting period ends when the Compensation Committee formally approves the performance-based restricted stock vesting based on the specific performance goals from the Company’s audited consolidated financial statements. If a portion of the performance-based restricted shares does not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that do not vest is reversed.
Restricted Stock Subject Only to a Service Condition |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Status and Changes in Restricted Stock Grants that Subject to Service Condition | The following table details the status and changes in our restricted stock grants subject only to a service condition for the six months ended June 30, 2024:
|  | Shares |  | Weighted Average Grant Date Fair Value
Non-vested, January 1, 2020 |  | 396,598 |  |  | $ | 48.31 |
Granted |  | 262,373 |  |  | $ | 27.39 |
Vested |  | (140,974) |  |  | $ | 53.06 |
Forfeited |  | (26,372) |  |  | $ | 39.72 |
Non-vested, June 30, 2024 |  | 491,625 |  |  | $ | 36.25 |
Restricted Shares Subject to Service and Performance Conditions |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Status and Changes in Restricted Stock Grants that Subject to Service Condition | The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the six months ended June 30, 2024:
|  | Shares |  | Weighted Average Grant Date Fair Value
Non-vested, January 1, 2020 |  | 80,975 |  |  | $ | 49.73 |
Vested |  | (35,275) |  |  | $ | 55.11 |
Non-vested, June 30, 2024 |  | 45,700 |  |  | $ | 45.58 |

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