Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Stock-Based Compensation [Abstract]

Summary of recognized stock-based compensation expense

The following table summarizes share-based compensation expense recognized:

	Years ended December 31,
	2024		2023		2022
Restricted stock units	$	20,803	$	16,425	$	6,323
Phantom stock units		118		107		222
Total	$	20,921	$	16,532	$	6,545

Summary of unrecognized compensation cost and weighted average remaining amortization periods

The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at December 31, 2024 (amortization periods in years):

	Unrecognized Compensation Cost		Weighted Average Remaining Amortization Periods
Restricted stock units	$	25,410		2.2
Phantom stock units		-		-
Total	$	25,410

Restricted stock units activity

RSU activity is presented below (number of RSUs in thousands):

	Years ended December 31,
	2024						2023						2022
	Number of RSUs			Weighted Average Grant-date Fair Value			Number of RSUs			Weighted Average Grant-date Fair Value			Number of RSUs			Weighted Average Grant-date Fair Value
Outstanding:
Beginning of year		1,717			$	23.03		894			$	19.73		877			$	20.08
Granted*		1,665				20.39		1,180				24.34		336				19.13
Vested**		(613	)			22.95		(342	)			18.86		(306	)			20.04
Cancelled or forfeited		(141	)			23.14		(15	)			24.83		(13	)			20.50
End of year		2,628			$	21.37		1,717			$	23.03		894			$	19.73
Expected to vest		1,876						1,702						894

* Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards.  The liability awards are not material.  The number of RSUs granted excludes these awards.

** The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

RSUs with performance-based vesting criteria

RSUs with performance-based and market-based vesting criteria are expected to vest as follows (number of RSUs in thousands):

Vesting Date	Expected to Vest		Not Expected to Vest		Total
January 1, 2025***		168		-		168
January 1, 2026		-		167		167
January 1, 2027		-		585		585
March 1, 2029		175		-		175

*** The performance vesting criteria for the performance-based RSUs with a vesting date of January 1, 2025 were achieved.

Phantom stock units activity under the 2007 Program

The following table summarizes the Company’s phantom stock units activity (number of phantom stock units in thousands):

	Years ended December 31,
	2024					2023						2022
	Number of Phantom Stock Units		Grant-date Fair Value per Unit			Number of Phantom Stock Units			Grant-date Fair Value per Unit			Number of Phantom Stock Units		Grant-date Fair Value per Unit
Outstanding:
Beginning of year		120					226						212
Granted		5		$	23.51		5			$	21.48		10		$	22.20
Dividend equivalents issued		3					2						4
Redeemed for common stock*		-					(113	)					-
End of year		128					120						226

* The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.