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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2024
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 three months ended March 31, 2024 was as follows:
Vesting conditionsNumber of Restricted Stock Units Granted
Performance and service conditions - Type 1 (1) (2)
10,439 
Performance and service conditions - Type 2 (1) (2)
32,708 
Service conditions only - Type 1 (2)
1,250 
Total shares of stock award granted44,397 

(1)The performance conditions with respect to restricted stock units may be satisfied as follows: 
(a)For grants to Corporate office employees subject to 2024 performance conditions, 100% of the restricted stock units may be earned on the basis of performance as measured by a “group adjusted 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 months ended March 31, 2024 and 2023, the Company’s stock-based compensation expense related to restricted stock units and restricted shares of common stock were as follows:
Three Months Ended
March 31,
20242023
Restricted shares of common stock$— $16 
Restricted stock units 378 457 
Total$378 $473 
Changes in restricted stock units and shares Changes in the Company’s restricted stock units for the three months ended March 31, 2024 and 2023 were as follows:
Three Months Ended March 31, 2024
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, 2024
95,264 $23.49 80,422 $16.50 175,686 $20.29 
Granted43,147 $14.37 3,483 $16.54 46,630 $14.53 
Shares earned above target (a)— $— — $— — $— 
Vested(43,781)$17.21 (6,993)$15.55 (50,774)$16.98 
Forfeited(28,841)$22.27 — $— (28,841)$22.27 
Unvested restricted stock units at March 31, 2024
65,789 $22.23 76,912 $16.59 142,701 $19.19 
 (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.

Three Months Ended March 31, 2023
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, 2023
130,186 $23.56 33,390 $20.31 163,576 $22.89 
Granted28,841 $22.27 — $— 28,841 $22.27 
Shares earned above target (a)3,940 $35.72 — $— 3,940 $35.72 
Vested(49,026)$18.82 (7,260)$14.54 (56,286)$18.27 
Forfeited(8,228)$34.69 (850)$14.54 (9,078)$32.80 
Unvested restricted stock units at March 31, 2023
105,713 $24.99 25,280 $22.16 130,993 $24.44 

(a)    The number of shares earned above target are based on the performance targets established by the Compensation Committee at the initial grant date.
 (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 three months ended March 31, 2023, were as follows:
 Three Months Ended
March 31,
 2023
Number of
Restricted
Shares of Common Stock
Weighted
Average
Grant-Date
Fair Value
Unvested restricted shares of common stock at January 117,410 $9.57 
Vested— $— 
Unvested restricted shares of common stock at March 31,
17,410 $9.57