Stock Based Compensation

9 Months Ended

Sep. 30, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

13. Stock-Based Compensation — The following tables illustrate the Company’s stock-based compensation, unamortized stock-based compensation, and remaining weighted average amortization period.


	Stock-Based Compensation for the Three months ended		Stock-Based Compensation for the Nine months ended		Unamortized Stock-Based Compensation		Remaining Weighted Average Period (years)
September 30, 2022
Restricted Stock	$	1,184	$	3,257	$	8,010		2.0
Unrestricted Stock		130		369		347		0.7
Performance-Based Restricted Stock		246		770		3,093		1.9
Total	$	1,560	$	4,396	$	11,450

September 30, 2021
Restricted Stock	$	1,246	$	3,469	$	8,277		2.0
Unrestricted Stock		100		317		267		0.7
Performance-Based Restricted Stock		365		1,523		3,522		2.0
Total	$	1,711	$	5,309	$	12,066

The Company also granted stock options in past periods. All outstanding stock options are fully vested and exercisable and no expense was recorded during the three- and nine-month periods ended September 30, 2022, and 2021.

Time-Based Restricted and Unrestricted Stock — A summary of non-vested shares as of, and for, the three- and nine-month periods ended September 30, 2022, and 2021 is presented below:


	Three and Nine Months Ended September 30, 2022					Three and Nine Months Ended September 30, 2021
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		817,290		$	17.04		820,624		$	16.64
Vested		(230,080	)		17.31		(197,615	)		19.91
Forfeited		(24,109	)		17.10		(11,580	)		16.95
Nonvested shares at March 31st		563,101			16.93		611,429			15.57
Granted		242,067			23.79		289,757			20.10
Vested		(27,482	)		22.35		(30,112	)		16.72
Forfeited		(14,070	)		18.53		(11,231	)		16.60
Nonvested shares at June 30th		763,616			18.88		859,843			17.04
Granted		13,600		$	18.94		3,400			15.17
Vested		(1,262	)		19.39		(5,962	)		15.36
Forfeited		(15,945	)		20.09		(13,841	)		17.21
Nonvested shares at September 30th		760,009		$	18.86		843,440		$	17.04

Performance-Based Restricted Stock — A summary of non-vested performance-based shares as of, and for, the three- and nine-month periods ended September 30, 2022, and 2021, respectively is presented below:


	Three and Nine Months Ended September 30, 2022					Three and Nine Months Ended September 30, 2021
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		379,061		$	16.43		391,771		$	16.26
Additional granted (forfeited) based on performance achievement		(41,088	)		16.56		71,180			20.53
Vested		(78,704	)		17.18		(175,087	)		19.78
Forfeited		(7,074	)		16.77		(505	)		19.26
Nonvested shares at March 31st		252,195			16.17		287,359			15.16
Granted		83,190			23.63		102,043			20.03
Forfeited		(7,829	)		17.50		—			—
Nonvested shares at June 30th		327,556			16.58		389,402			16.44
Forfeited		(2,577	)		17.80		(3,733	)		17.04
Nonvested shares at September 30th		324,979		$	16.57		385,669		$	16.43

Stock Options — The Company has stock options outstanding under its incentive stock option plans and performance incentive stock option plan. All outstanding stock options are vested and exercisable. The following tables present details for each type of plan:

Incentive Stock Option Plans

Activity for the three- and nine-month periods ended September 30, 2022:


	Number of Shares			Weighted Average Price Per Share
Balance outstanding, December 31, 2021 and March 31, 2022		108,036		$	11.49
Options exercised		(33,745	)		11.49
Balance outstanding, June 30, 2022		74,291		$	11.49
Options exercised		(1,541	)		11.49
Balance outstanding, September 30, 2022		72,750		$	11.49

All the incentive stock options outstanding as of September 30, 2022, have an exercise price per share of $11.49, total intrinsic value of $525, and a remaining life of 27 months.

Activity for the three- and nine-month periods ended September 30, 2021:


	Number of Shares			Weighted Average Price Per Share
Balance outstanding, December 31, 2020		123,087		$	11.48
Options exercised		(5,838	)		11.49
Balance outstanding, March 31, 2021		117,249			11.48
Options exercised		(8,826	)		11.35
Balance outstanding, June 30, 2021		108,423			11.49
Options exercised		(387	)		11.49
Balance outstanding, September 30, 2021		108,036		$	11.49

Performance Incentive Stock Option Plan

Activity for the three- and nine-month periods ended September 30, 2022:


	Number of Shares			Weighted Average Price Per Share
Balance outstanding, December 31, 2021 and March 31, 2022		114,658		$	11.49
Options exercised		(32,850	)		11.49
Balance outstanding, June 30 and September 30, 2022		81,808		$	11.49

Activity for the three- and nine-month periods ended September 30, 2021:


	Number of Shares		Weighted Average Price Per Share
Balance outstanding, December 31, 2020		114,658	$	11.49
Options exercised		—		—
Balance outstanding, September 30, 2021		114,658	$	11.49

All the performance incentive stock options outstanding as of September 30, 2022, have an exercise price per share of $11.49, total intrinsic value of $590, and a remaining life of 27 months.