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Stock-based Compensation | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-based Compensation | Stock-based Compensation The Company’s 2019 Omnibus Stock Incentive Plan (the “2019 Plan”) provides for granting stock options, restricted stock awards, and restricted stock units to employees, directors, contractors and consultants of the Company. As of June 30, 2024, there were no shares available for future grants under the 2019 Plan. Restricted Stock Awards Following is the restricted stock award activity for the three and six months ended June 30, 2024:
| Shares |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2023 | 1,766,417 |  | $ | 10.01 |
Granted | 244,122 |  | 2.63 |
Vested | (595,108) |  | 8.61 |
Forfeited | (168,903) |  | 9.19 |
Nonvested at March 31, 2024 | 1,246,528 |  | $ | 9.34 |
Granted | 105,632 |  |  | 1.64
Vested | (452,387) |  |  | 6.96
Forfeited | (73,458) |  |  | 5.82
Nonvested at June 30, 2024 | 826,315 |  |  | $ | 9.98 |
Restricted Stock Unit Awards During 2023, the Company commenced granting restricted stock units to employees and agents. The following is the restricted stock unit award activity for the three and six months ended June 30, 2024:
| Shares |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2023 | 2,191,297 |  | $ | 4.94 |
Granted | 597,965 |  | 2.02 |
Vested | (91,686) |  | 3.83 |
Forfeited | (66,192) |  | 4.63 |
Nonvested at March 31 2024 | 2,631,384 |  | $ | 4.32 |
Granted | 423,204 |  | 1.70
Vested | (137,285) |  | 4.51
Forfeited | (139,588) |  | 3.95
Nonvested at June 30, 2024 | 2,777,715 |  | $ | 3.93 |
Stock Option Awards There were no stock option awards granted during the six-month period ended June 30, 2024. Stock-based Compensation expense Stock-based compensation expense related to all awards issued under the Company’s stock compensation plans for the three and six months ended June 30, 2024 and 2023 was as follows (amounts in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Commission and other agent-related cost | $ | 713 |  |  | $ | 1,070 |  |  | $ | 1,568 |  |  | $ | 2,068 |
Operations and support | 116 |  |  | 283 |  |  | 298 |  |  | 485 |
Technology and development | 37 |  |  | 50 |  |  | 92 |  |  | 72 |
General and administrative | 1,584 |  |  | 1,645 |  |  | 3,064 |  |  | 3,152 |
Marketing | 49 |  |  | 137 |  |  | 129 |  |  | 228 |
Total stock-based compensation | $ | 2,499 |  |  | $ | 3,185 |  |  | $ | 5,151 |  |  | $ | 6,005 |
At June 30, 2024, the total unrecognized compensation cost related to nonvested restricted stock awards was $1.2 million, which is expected to be recognized over a weighted average period of approximately six months. At June 30, 2024, the total unrecognized compensation cost related to nonvested restricted stock units was $3.9 million, which the Company expects to recognize over a weighted average period of approximately ten months.

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