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Equity Plan Awards (Tables) | 12 Months Ended
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Dec. 31, 2023
Stock Based Compensation, Unamortized Stock-Based Compensation and Remaining Weighted Average Period | The below tables illustrate the Company’s stock-based compensation, unamortized stock-based compensation, and remaining weighted average period for the years ended December 31, 2023, 2022 and 2021. This projected expense will change if any stock options and restricted stock are granted or cancelled prior to the respective reporting periods, or if there are any changes required to be made for estimated forfeitures.
|  | Stock-Based Compensation |  |  | Unamortized Stock-Based Compensation |  |  | Remaining Weighted Average Period (years) |
December 31, 2023 |  |  |  |  |  |  |  |  |
Restricted Stock |  | $ | 4,830 |  |  | $ | 6,593 |  |  |  | 1.8 |
Unrestricted Stock |  |  | 520 |  |  |  | 217 |  |  |  | 0.4 |
Performance-Based Restricted Stock |  |  | 788 |  |  |  | 2,500 |  |  |  | 1.8 |
Total |  | $ | 6,138 |  |  | $ | 9,310 |  |  |  |
December 31, 2022 |  |  |  |  |  |  |  |  |
Restricted Stock |  | $ | 4,407 |  |  | $ | 6,585 |  |  |  | 1.8 |
Unrestricted Stock |  |  | 499 |  |  |  | 217 |  |  |  | 0.4 |
Performance-Based Restricted Stock |  |  | 778 |  |  |  | 2,441 |  |  |  | 1.8 |
Total |  | $ | 5,684 |  |  | $ | 9,243 |  |  |  |
December 31, 2021 |  |  |  |  |  |  |  |  |
Restricted Stock |  | $ | 5,682 |  |  | $ | 6,804 |  |  |  | 1.8 |
Unrestricted Stock |  |  | 421 |  |  |  | 187 |  |  |  | 0.4 |
Performance-Based Restricted Stock |  |  | 777 |  |  |  | 2,888 |  |  |  | 1.8 |
Total |  | $ | 6,880 |  |  | $ | 9,879 |  |  |  |
Summary of Option Activity | Activity of the incentive stock option plans:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |
Balance outstanding, December 31, 2020 |  |  | 123,087 |  |  |  | 11.48 |
Options exercised |  |  | (15,051 | ) |  |  | 11.41 |
Balance outstanding, December 31, 2021 |  |  | 108,036 |  |  |  | 11.49 |
Options exercised |  |  | (39,140 | ) |  |  | 11.49 |
Balance outstanding, December 31, 2022 |  |  | 68,896 |  |  |  | 11.49 |
Options exercised |  |  | (4,024 | ) |  |  | 11.49 |
Balance outstanding, December 31, 2023 |  |  | 64,872 |  |  |  | 11.49 |
Summary of Stock Options Summarized by Exercise Price | Outstanding stock options at December 31, 2023, summarized by exercise price:
|  | Outstanding Weighted Average |
Exercise Price Per Share |  | Number of Shares |  |  | Remaining Life (Months) |  | Exercise Price |
Outstanding stock options, December 31, 2023 |  |  | 64,872 |  |  | 12 |  | $ | 11.49 |
Performance Based Stock Options |
Summary of Option Activity | Activity of the performance incentive stock option plan:
|  | Number of Shares |  |  | Weighted Average Price Per Share |  |
Balance outstanding, December 31, 2021 and 2020 |  |  | 114,658 |  |  | $ | 11.49 |  |
Options exercised |  |  | (32,850 | ) |  |  | 11.49 |  |
Balance outstanding, December 31, 2022 |  |  | 81,808 |  |  | $ | 11.49 |  |
Options exercised |  |  | — |  |  |  | 11.49 |  |
Balance outstanding, December 31, 2023 |  |  | 81,808 |  |  | $ | 11.49 |  |
Restricted and Unrestricted Stock |
Summary of Non-Vested Shares | A summary of nonvested restricted and unrestricted stock is presented below:
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at January 1 st |  |  | 742,050 |  |  | $ | 18.86 |  |  |  | 817,290 |  |  | $ | 17.04 |  |  |  | 820,624 |  |  | $ | 16.64 |
Granted |  |  | 306,515 |  |  |  | 20.31 |  |  |  | 256,417 |  |  |  | 23.53 |  |  |  | 295,619 |  |  |  | 20.00 |
Vested |  |  | (319,751 | ) |  |  | 14.90 |  |  |  | (262,521 | ) |  |  | 17.84 |  |  |  | (244,651 | ) |  |  | 19.23 |
Forfeited |  |  | (42,629 | ) |  |  | 20.61 |  |  |  | (69,136 | ) |  |  | 18.58 |  |  |  | (54,302 | ) |  |  | 17.11 |
Nonvested shares at December 31 st |  |  | 686,185 |  |  | $ | 21.24 |  |  |  | 742,050 |  |  | $ | 18.86 |  |  |  | 817,290 |  |  | $ | 17.04 |
Performance Based Restricted Stock |
Summary of Non-Vested Shares | A summary of nonvested performance-based stock is presented below:
|  | December 31, 2023 |  |  | December 31, 2022 |  |  | December 31, 2021 |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested shares at January 1 st |  |  | 318,699 |  |  | $ | 18.05 |  |  |  | 379,061 |  |  | $ | 16.43 |  |  |  | 391,771 |  |  | $ | 16.26 |
Granted |  |  | 94,028 |  |  |  | 21.51 |  |  |  | 83,190 |  |  |  | 23.63 |  |  |  | 102,043 |  |  |  | 20.03 |
Change based on performance achievement |  |  | (58,827 | ) |  |  | 14.73 |  |  |  | (68,484 | ) |  |  | 16.87 |  |  |  | 71,180 |  |  |  | 20.53 |
Vested |  |  | (86,188 | ) |  |  | 13.99 |  |  |  | (51,308 | ) |  |  | 17.09 |  |  |  | (175,087 | ) |  |  | 19.78 |
Forfeited |  |  | (4,387 | ) |  |  | 17.67 |  |  |  | (23,760 | ) |  |  | 17.21 |  |  |  | (10,846 | ) |  |  | 16.89 |
Nonvested shares at December 31 st |  |  | 263,325 |  |  | $ | 21.37 |  |  |  | 318,699 |  |  | $ | 18.05 |  |  |  | 379,061 |  |  | $ | 16.43 |

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