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STOCK COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity and Related Information | A summary of the Company’s stock option activity and related information for the six months ended June 30, 2023 is as follows:
| Options |  | Weighted- average exercise price |  | Weighted- average remaining contractual life (years) |  | Aggregate intrinsic value (in thousands)
Options outstanding, January 1, 2023 | 1,065,750 |  |  | $ | 13.66 |  |  |  |  |
Grants | 50,000 |  |  | 5.92 |  |  |  |  |
Cancellations | (4,375) |  |  | 11.27 |  |  |  |  |
Expirations | (107,875) |  |  | 13.17 |  |  |  |  |
Options outstanding, June 30, 2023 | 1,003,500 |  |  | 13.34 |  |  | 4.6 |  | $ | — |
Options exercisable, June 30, 2023 | 887,875 |  |  | $ | 13.87 |  |  | 4.0 |  | $ | — |
Total unrecognized stock option expense remaining (in thousands) | $ | 450 |  |  |  |  |  |  |
Weighted-average years expected to be recognized over | 1.9 |  |  |  |  |  |
Summary of Restricted Stock Activity | A summary of the Company’s restricted stock activity and related information for the six months ended June 30, 2023 is as follows:
| Restricted Shares |  | Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2023 | 484,143 |  |  | $ | 11.79 |
Grants | 333,300 |  |  | 5.37 |
Vested | (212,037) |  |  | 11.20 |
Cancellations | (6,783) |  |  | 11.07 |
Non-vested restricted shares, June 30, 2023 | 598,623 |  |  | $ | 8.44 |
Total unrecognized compensation expense remaining (in thousands) | $ | 4,553 |  |  |
Weighted-average years expected to be recognized over | 1.7 |  |
Summary of Performance-based Award Activity | A summary of the Company’s performance-based award activity and related information for the six months ended June 30, 2023 is as follows:
| Performance- based stock awards (1) |  | Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2023 | 400,302 |  |  | $ | 11.56 |
Grants | 191,075 |  |  | 5.92 |
Achieved performance over target (2) | 16,942 |  |  | 6.36 |
Vested | (119,739) |  |  | 6.36 |
Cancellations | (858) |  |  | 14.18 |
Non-vested performance-based awards, June 30, 2023 | 487,722 |  |  | $ | 10.44 |
Total unrecognized compensation expense remaining (in thousands)(3) | $ | 1,390 |  |  |
Weighted-average years expected to be recognized over | 2.0 |  |
(1)Represents the target number of shares to be issued for each performance-based award. (2)Represents the number of shares earned over target for performance-based awards granted in 2020 based on performance goals attained. These awards vested in the six months ended June 30, 2023. (3)The performance metric for the performance-based awards granted in 2022 is not probable of achievement. Therefore, no compensation expense has been recorded on these awards.
Share-based Payment Arrangement, Cash Settled Performance Shares, Activity [Table Text Block] | A summary of the Company’s cash-settled performance-based awards activity and related information for the six months ended June 30, 2023 is as follows:
| Cash-settled performance-based awards (1) |  | Weighted- average fair value
Non-vested cash-settled performance-based awards, January 1, 2023 | 85,776 |  |  | $ | 7.59 |
Cancellations | (1,790) |  |  | 5.65 |
Non-vested cash-settled performance-based awards, June 30, 2023 | 83,986 |  |  | $ | 5.65 |
Total unrecognized compensation expense remaining (in thousands)(2) | $ | — |  |  |
Weighted-average years expected to be recognized over | 0.0 |  |
(1) Represents the target number of units to be settled in cash. (2) The performance metric for the cash-settled performance-based awards granted in 2022 is not probable of achievement. Therefore, no compensation expense has been recorded on these awards.
Summary of Stock Compensation Expense | The Company recorded stock compensation expense as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
Stock Compensation Expense Components | 2023 |  | 2022 |  | 2023 |  | 2022
Equity based stock option expense | $ | 50 |  |  | $ | 93 |  |  | $ | 179 |  |  | $ | 180 |
Restricted and performance-based stock awards expense | 960 |  |  | 1,187 |  |  | 1,697 |  |  | 2,251 |
Stock compensation expense for equity based awards | $ | 1,010 |  |  | $ | 1,280 |  |  | $ | 1,876 |  |  | $ | 2,431 |
Liability based stock option expense | 1 |  |  | (1) |  |  | (4) |  |  | (6) |
Cash-settled performance-based awards expense | — |  |  | 86 |  |  | 0 |  |  | 114 |
Total Stock Compensation Expense | $ | 1,011 |  |  | $ | 1,365 |  |  | $ | 1,872 |  |  | $ | 2,539 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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