As of June 30, 2023, there were 618,812 shares available for the grant of awards under the Company's Amended and Restated 2000 Long Term Incentive Plan (“Plan”), assuming maximum performance of performance-based awards.

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

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on June 30, 2023. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on June 30, 2023 and the exercise price.

On March 8, 2023, the exercise period for the Executive Chairman’s outstanding vested stock options were extended to remain exercisable until ninety days following termination of his service on the Company's Board of Directors (the "Board"). The outstanding stock options remain subject to original expiration dates of such awards. The Company recorded $0.1 million of stock compensation expense in connection with this extension during the three months ended March 31, 2023.

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

Each performance award represents the right to receive up to 150% of the target number of shares of common stock. The number of shares of common stock earned will be determined based on the attainment of specified performance goals at the end of the performance period, as determined by the Compensation Committee of the Board. The shares are subject to the terms and conditions of the Company’s Plan.

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

(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.

Each cash-settled performance-based award represents the right to receive up to 150% of the target number of deferred stock units with payment in cash equivalent to the value of one share of the Company's common stock. The number of deferred stock units earned will be determined based on the attainment of specified performance goals at the end of the performance period, as determined by the Compensation Committee of the Board. The cash-settled performance-based awards are subject to the terms and conditions of the Company’s Plan.

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

(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.