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Stock Based Compensation | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [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 ended |  |  | Stock-Based Compensation for the Six months ended |  |  | Unamortized Stock-Based Compensation |  |  | Remaining Weighted Average Period (years) |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Restricted Stock |  | $ | 1,211 |  |  | $ | 2,410 |  |  | $ | 9,147 |  |  |  | 2.2 |
Unrestricted Stock |  |  | 130 |  |  |  | 260 |  |  |  | 477 |  |  |  | 0.9 |
Performance-Based Restricted Stock |  |  | (274 | ) |  |  | (129 | ) |  |  | 3,238 |  |  |  | 2.2 |
Total |  | $ | 1,067 |  |  | $ | 2,541 |  |  | $ | 12,862 |  |  |  |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Restricted Stock |  | $ | 1,079 |  |  | $ | 2,072 |  |  | $ | 9,277 |  |  |  | 2.2 |
Unrestricted Stock |  |  | 122 |  |  |  | 239 |  |  |  | 476 |  |  |  | 0.9 |
Performance-Based Restricted Stock |  |  | 72 |  |  |  | 525 |  |  |  | 3,781 |  |  |  | 2.1 |
Total |  | $ | 1,273 |  |  | $ | 2,836 |  |  | $ | 13,534 |  |  |  |
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 six-month periods ended June 30, 2023, and 2022. Time-Based Restricted and Unrestricted Stock — A summary of non-vested shares as of, and for, the three- and six-month periods ended June 30, 2023, and 2022 is presented below:
|  | Three and Six Months Ended June 30, 2023 |  |  | Three and Six Months Ended June 30, 2022 |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at December 31 st |  |  | 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 31 st |  |  | 734,554 |  |  |  | 18.86 |  |  |  | 563,101 |  |  |  | 16.93 |
Granted |  |  | 279,419 |  |  |  | 21.17 |  |  |  | 242,067 |  |  |  | 23.79 |
Vested |  |  | (309,318 | ) |  |  | 14.83 |  |  |  | (27,482 | ) |  |  | 22.35 |
Forfeited |  |  | (16,354 | ) |  |  | 19.50 |  |  |  | (14,070 | ) |  |  | 18.53 |
Nonvested shares at June 30 th |  |  | 688,301 |  |  | $ | 21.59 |  |  |  | 763,616 |  |  | $ | 18.88 |
Performance-Based Restricted Stock — A summary of non-vested performance-based shares as of, and for, the three- and six-month periods ended June 30, 2023, and 2022, respectively is presented below:
|  | Three and Six Months Ended June 30, 2023 |  |  | Three and Six Months Ended June 30, 2022 |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at December 31 st |  |  | 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 31 st |  |  | 318,699 |  |  |  | 18.05 |  |  |  | 252,195 |  |  |  | 16.17 |
Additional granted (forfeited) based on performance achievement |  |  | (58,827 | ) |  |  | 14.73 |  |  |  | — |  |  |  | — |
Granted |  |  | 94,028 |  |  |  | 21.51 |  |  |  | 83,190 |  |  |  | 23.63 |
Vested |  |  | (86,188 | ) |  |  | 13.99 |  |  |  | — |  |  |  | — |
Forfeited |  |  | (3,316 | ) |  |  | 16.91 |  |  |  | (7,829 | ) |  |  | 17.50 |
Nonvested shares at June 30 th |  |  | 264,396 |  |  | $ | 21.36 |  |  |  | 327,556 |  |  | $ | 16.58 |
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 six-month periods ended June 30, 2023:
|  | Number of Shares |  |  | Weighted Average 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 |
Options exercised |  |  | (1,287 | ) |  |  | 11.49 |
Balance outstanding, June 30, 2023 |  |  | 66,072 |  |  | $ | 11.49 |
All the incentive stock options outstanding as of June 30, 2023, have an exercise price per share of $11.49, total intrinsic value of $422, and a remaining life of 18 months. Activity for the three- and six-month periods ended June 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 |
Performance Incentive Stock Option Plan There was no activity for the three- and six-month periods ended June 30, 2023. There were 81,808 performance incentive stock options outstanding as of June 30, 2023, with an exercise price per share of $11.49 and a remaining life of 18 months. Activity for the three- and six-month periods ended June 30, 2022:
|  | Number of Shares |  |  | Weighted Average Price Per Share |
Balance outstanding, December 31, 2021 |  |  | 114,658 |  |  | $ | 11.49 |
Options exercised |  |  | (32,850 | ) |  |  | 11.49 |
Balance outstanding, June 30, 2022 |  |  | 81,808 |  |  | $ | 11.49 |
All the performance incentive stock options outstanding as of June 30, 2023, have an exercise price per share of $11.49, total intrinsic value of $522, and a remaining life of 18 months.

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