XML 57 R46.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stock-Based Compensation and Stock Awards (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of RSA Activity

The Company’s RSA activity and related information is presented below:

 

 

Restricted
Stock

 

 

Weighted-
average
Grant Date
Fair Value

 

Unvested at December 31, 2022

 

 

579,804

 

 

$

23.34

 

Granted

 

 

330,696

 

 

 

22.93

 

Vested

 

 

(250,176

)

 

 

23.42

 

Forfeited

 

 

(50,493

)

 

 

23.92

 

Unvested at December 31, 2023

 

 

609,831

 

 

$

23.04

 

Schedule of Assumptions Used in Monte Carlo Simulation

Assumptions used in the Monte Carlo simulation are as follows:

 

 

2023

 

 

2022

 

 

2021

 

Grant date

 

October 28, 2023

 

 

October 28, 2022

 

 

October 28, 2021

 

Performance period

 

October 1, 2023 to September 30, 2026

 

 

October 1, 2022 to September 30, 2025

 

 

October 1, 2021 to September 30, 2024

 

Volatility

 

49.0%

 

 

57.3%

 

 

56.1%

 

Risk-free interest rate

 

4.9%

 

 

4.4%

 

 

0.8%

 

Grant date price

 

$

22.78

 

 

$

23.28

 

 

$

23.54

 

Summary of PSA Activity

The Company’s Performance Unit activity and related information is presented below:

 

 

Number of
Performance
Units

 

 

Weighted
Average
Grant Date
Fair Value
Per Unit

 

Unvested balance at December 31, 2022

 

 

331,820

 

 

$

29.06

 

Granted

 

 

147,053

 

 

 

24.80

 

Forfeited

 

 

(72,292

)

 

 

32.05

 

Unvested balance at December 31, 2023

 

 

406,581

 

 

$

26.99

 

Schedule of DSA Activity

The Company’s DSA activity for the year ended December 31, 2023 is presented below:

 

 

DSA Number
of Shares

 

 

Weighted
Average
Grant Date
Fair Value
Per Share

 

Unvested balance at December 31, 2022

 

 

71,935

 

 

$

24.85

 

Granted

 

 

56,816

 

 

 

24.14

 

Vested

 

 

(50,877

)

 

 

25.24

 

Unvested balance at December 31, 2023

 

 

77,874

 

 

$

24.08

 

Schedule of Information for Stock Option Plans

The following table summarizes information for equity compensation plans in effect as of December 31, 2023:

 

 

Number of
securities to be
issued upon
exercise of
outstanding
options, warrants and rights
(1)

 

 

Weighted-
average
exercise
price of
outstanding
options, warrants and rights
(2)

 

 

Number of
securities
remaining
available for
future issuance
under equity
compensation
plan

 

Plan category

 

(a)

 

 

(b)

 

 

(c)

 

Equity compensation plans approved by stockholders

 

 

406,581

 

 

$

26.99

 

 

 

634,997

 

Total

 

 

406,581

 

 

$

26.99

 

 

 

634,997

 

(1) Excludes 687,705 shares of unvested RSAs and DSAs, which were granted pursuant to the 2017 Plan. Includes 406,581 unvested Performance Units shown at 100% level of performance achievement.

(2) The weighted average exercise price does not take into account 406,581 unvested Performance Units, which do not have an exercise price.