XML 32 R22.htm IDEA: XBRL DOCUMENT v3.23.1
Stock Based Compensation
3 Months Ended
Mar. 31, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Based Compensation

14. 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 Period

 

 

Unamortized
Stock-Based
Compensation
as of March 31

 

 

Remaining
Weighted
Average
Period (years)

 

March 31, 2023

 

 

 

 

 

 

 

 

 

Time-Based Restricted Stock

 

$

1,198

 

 

$

5,304

 

 

 

1.7

 

Unrestricted Stock

 

 

130

 

 

 

87

 

 

 

0.2

 

Performance-Based Restricted Stock

 

 

146

 

 

 

1,978

 

 

 

1.7

 

Total

 

$

1,474

 

 

$

7,369

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2022

 

 

 

 

 

 

 

 

 

Time-Based Restricted Stock

 

$

993

 

 

$

5,411

 

 

 

1.7

 

Unrestricted Stock

 

 

117

 

 

 

78

 

 

 

0.2

 

Performance-Based Restricted Stock

 

 

453

 

 

 

2,319

 

 

 

1.7

 

Total

 

$

1,563

 

 

$

7,808

 

 

 

 

 

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 months ended March 31, 2023 and 2022.

 

Time-based Restricted and Unrestricted Stock A summary of nonvested time based restricted and unrestricted stock is presented below:

 

 

 

Three Months Ended
March 31, 2023

 

 

Three Months Ended
March 31, 2022

 

 

 

Number
of Shares

 

 

Weighted
Average
Grant
Date Fair
Value

 

 

Number
of Shares

 

 

Weighted
Average
Grant
Date Fair
Value

 

Nonvested shares at December 31st

 

 

742,050

 

 

$

18.86

 

 

 

817,290

 

 

$

17.04

 

Vested

 

 

(2,017

)

 

 

15.71

 

 

 

(230,080

)

 

 

17.31

 

Forfeited

 

 

(5,479

)

 

 

19.87

 

 

 

(24,109

)

 

 

17.10

 

Nonvested shares at March 31st

 

 

734,554

 

 

$

18.86

 

 

 

563,101

 

 

$

16.93

 

 

Performance-Based Restricted Stock A summary of nonvested performance-based stock is presented below:

 

 

 

Three Months Ended
March 31, 2023

 

 

Three Months Ended
March 31, 2022

 

 

 

Number
of Shares

 

 

Weighted
Average
Grant
Date Fair
Value

 

 

Number
of Shares

 

 

Weighted
Average
Grant
Date Fair
Value

 

Nonvested shares at December 31st

 

 

318,699

 

 

$

18.05

 

 

 

379,061

 

 

$

16.43

 

Additional granted (forfeited) based on performance achievement

 

 

 

 

 

 

 

 

(41,088

)

 

 

16.56

 

Vested

 

 

 

 

 

 

 

 

(78,704

)

 

 

17.18

 

Forfeited

 

 

 

 

 

 

 

 

(7,074

)

 

 

16.77

 

Nonvested shares at March 31st

 

 

318,699

 

 

$

18.05

 

 

 

252,195

 

 

$

16.17

 

 

 

Stock Options — A summary of stock options is presented below:

Time-based Incentive Stock Option Plans

Activity of the incentive stock option plans for the three months ended March 31, 2023:

 

 

 

Number of
Shares

 

 

Weighted
Average Exercise Price
Per Share

 

Balance outstanding, December 31, 2022

 

 

68,896

 

 

$

11.49

 

Options exercised

 

 

(1,537

)

 

 

11.49

 

Balance outstanding, March 31, 2023

 

 

67,359

 

 

$

11.49

 

 

All outstanding stock options as of March 31, 2023 have an exercise price of $11.49 and a remaining life of 21 months.

 

There was no activity during the three months ended March 31, 2022. There were 108,036 incentive stock options outstanding as of March 31, 2022 with an exercise price per share of $11.49 and a remaining life of 33 months.

Performance-based Incentive Stock Option Plan

There was no activity for the three months ended March 31, 2023 and 2022. There were 81,808 and 114,658 of performance incentive stock options outstanding as of March 31, 2023 and 2022, with an exercise price per share of $11.49 and a remaining life of 21 and 33 months, respectively.