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Stock Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2023
Stock Based Compensation, Unamortized Stock-Based Compensation and Remaining Weighted Average Period | 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 |  |  |  |
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 |
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 Based Stock Options |
Incentive Stock Option Plans | 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 |
Restricted and Unrestricted Stock |
Summary of Non-Vested Shares | 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 |
Summary of Non-Vested Shares | 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 |

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