STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Restricted stock unit, vesting information

A summary of the quantity and vesting conditions for stock-based units granted to the Company’s employees for the six months ended June 30, 2022 was as follows:

Vesting conditions	Number of Restricted Stock Units Granted
Performance and service conditions - Type 1 (1) (2)	34,493
Performance and service conditions - Type 2 (1) (2)	15,667
Service conditions only - Type 1 (2)	4,250
Total shares of stock award granted	54,410

(1)The performance conditions with respect to restricted stock units may be satisfied as follows: 

(a)For employees from the Americas, Asia Pacific, and Europe, (i) 70% of the restricted stock units may be earned on the basis of performance as measured by a “regional adjusted EBITDA”, and (ii) 30% of the restricted stock units may be earned on the basis of performance as measured by a “group adjusted EBITDA”;

(b)For grants to Corporate office employees subject to 2022 performance conditions, 100% of the restricted stock units may be earned on the basis of performance as measured by a “group adjusted EBITDA”; and.

(c)For grants to Coit Principals subject to 2022 performance conditions, 100% of the restricted stock units may be earned on the basis of performance as measured by a “Coit EBITDA”.

(2)To the extent restricted stock units are earned, such restricted stock units will vest on the basis of service as follows:

(a)33% and 66.6% for Type 1 and Type 2, respectively, of the restricted stock units will vest on the first anniversary of the grant date;

(b)33% and 16.7% for Type 1 and Type 2, respectively, of the restricted stock units will vest on the second anniversary of the grant date; and

(c)34% and 16.7% for Type 1 and Type 2, respectively, of the restricted stock units will vest on the third anniversary of the grant date; provided that, in each case, the employee remains employed by the Company from the grant date through the applicable service vesting date.

Schedule of stock-based compensation expense

For the three and six months ended June 30, 2022 and 2021, the Company’s stock-based compensation expense related to restricted stock units and restricted shares of common stock were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Restricted shares of common stock (see Note 5)	$	32	$	92	$	74	$	182
Restricted stock units	663		702		1,167		914
Total	$	695	$	794	$	1,241	$	1,096

Changes in restricted stock units and shares

Changes in the Company’s restricted stock units for the six months ended June 30, 2022 and 2021 were as follows:

	Six Months Ended June 30, 2022
	Performance-based			Time-based/Director			Total
	Number of Shares of Restricted Stock Units	Weighted Average Grant-Date Fair Value		Number of Shares of Restricted Stock Units	Weighted Average Grant-Date Fair Value		Number of Shares of Restricted Stock Units	Weighted Average Grant-Date Fair Value
Unvested restricted stock units at January 1,	121,393	$	15.88	46,500	$	17.15	167,893	$	16.23
Granted	50,160	$	35.37	11,411	$	38.39	61,571	$	35.93
Shares earned above target (a)	36,884	$	16.70	—	$	—	36,884	$	16.70
Vested	(78,251)	$	15.99	(15,246)	$	26.10	(93,497)	$	17.63
Forfeited	—	$	—	(3,675)	$	16.04	(3,675)	$	16.04
Unvested restricted stock units at June 30,	130,186	$	23.56	38,990	$	19.97	169,176	$	22.73

 (a)    The number of shares earned above target are based on the performance target established by the Compensation Committee at the initial grant date.

(a)    The number of shares earned above target are based on the performance targets established by the Compensation Committee at the initial grant date.

	Six Months Ended June 30, 2021
	Performance-based			Time-based/Director			Total
	Number of Shares of Restricted Stock Units	Weighted Average Grant-Date Fair Value		Number of Shares of Restricted Stock Units	Weighted Average Grant-Date Fair Value		Number of Shares of Restricted Stock Units	Weighted Average Grant-Date Fair Value
Unvested restricted stock units at January 1,	14,676	$	15.45	—	$	—	14,676	$	15.45
Granted	126,671	$	15.79	45,362	$	15.92	172,033	$	15.83
Vested	(8,543)	$	15.68	(19,862)	$	17.70	(28,405)	$	17.09
Forfeited	(11,411)	$	14.54	—	$	—	(11,411)	$	14.54
Unvested restricted stock units at June 30,	121,393	$	15.88	25,500	$	14.54	146,893	$	15.65

 (a)    The number of shares earned above target are based on the performance target established by the Compensation Committee at the initial grant date.

Changes in the Company’s restricted shares of common stock for the six months ended June 30, 2022 and 2021 were as follows:

	Six Months Ended June 30,
	2022			2021
	Number of Restricted Shares of Common Stock	Weighted Average Grant-Date Fair Value		Number of Restricted Shares of Common Stock	Weighted Average Grant-Date Fair Value
Unvested restricted shares of common stock at January 1,	34,818	$	9.57	52,226	$	9.57
Vested	(17,408)	$	9.57	—	$	—
Unvested restricted shares of common stock at June 30,	17,410	$	9.57	52,226	$	9.57