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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 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 Companys employees for the nine months ended September 30, 2022 was as follows:
Vesting conditionsNumber 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)
5,250 
Total shares of stock award granted55,410 

(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 nine months ended September 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 September 30,Nine Months Ended September 30,
2022202120222021
Restricted shares of common stock$17 $59 $91 $241 
Restricted stock units 528 640 1,695 1,554 
Total$545 $699 $1,786 $1,795 
Changes in restricted stock units and shares Changes in the Company’s restricted stock units for the nine months ended September 30, 2022 and 2021 were as follows:
Nine Months Ended September 30, 2022
Performance-basedTime-based/Director Total
Number of Shares of Restricted Stock UnitsWeighted Average Grant-Date Fair ValueNumber of Shares of Restricted Stock UnitsWeighted Average Grant-Date Fair ValueNumber of Shares of Restricted Stock UnitsWeighted Average Grant-Date Fair Value
Unvested restricted stock units at January 1, 2022
121,393 $15.88 46,500 $17.15 167,893 $16.23 
Granted50,160 $35.37 13,571 $37.67 63,731 $35.86 
Shares earned above target (a)36,884 $16.70 — $— 36,884 $16.70 
Vested(78,251)$15.99 (18,056)$25.87 (96,307)$17.84 
Forfeited— $— (3,675)$16.04 (3,675)$16.04 
Unvested restricted stock units at September 30, 2022
130,186 $23.56 38,340 $20.41 168,526 $22.84 
 (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.

Nine Months Ended September 30, 2021
Performance-basedTime-based/Director Total
Number of Shares of Restricted Stock UnitsWeighted Average Grant-Date Fair ValueNumber of Shares of Restricted Stock UnitsWeighted Average Grant-Date Fair ValueNumber of Shares of Restricted Stock UnitsWeighted Average Grant-Date Fair Value
Unvested restricted stock units at January 1, 2021
14,676 $15.45 — $— 14,676 $15.45 
Granted126,671 $15.79 53,934 $16.24 180,605 $15.93 
Vested(8,543)$15.68 (22,434)$17.71 (30,977)$17.15 
Forfeited(11,411)$14.54 (1,000)$14.54 (12,411)$14.54 
Unvested restricted stock units at September 30, 2021
121,393 $15.88 30,500 $15.21 151,893 $15.74 
 (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 nine months ended September 30, 2022 and 2021 were as follows:
 Nine Months Ended September 30,
 20222021
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 134,818 $9.57 52,226 $9.57 
Vested(17,408)$9.57 (17,408)$9.57 
Unvested restricted shares of common stock at September 30
17,410 $9.57 34,818 $9.57