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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 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 nine months ended September 30, 2024 was as follows:
Vesting conditionsNumber of Restricted Stock Units Granted
Performance and service conditions - Type 1 (1) (2)
14,939 
Performance and service conditions - Type 2 (1) (2)
32,708 
Service conditions only - Type 1 (2)
12,540 
Total shares of stock award granted60,187 

(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 and nine months ended September 30, 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
 September 30,
Nine Months Ended
September 30,
2024202320242023
Restricted shares of common stock$— $— $— $16 
Restricted stock units 481 131 945 971 
Restricted stock units-cash settled liabilities— — 101 — 
Total$481 $131 $1,046 $987 
Changes in restricted stock units and shares Changes in the Company’s restricted stock units for the nine months ended September 30, 2024 and 2023 were as follows:
Nine Months Ended September 30, 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 
Granted47,647 $14.51 30,080 $17.00 77,727 $15.47 
Vested(58,051)$22.27 (24,723)$18.34 (82,774)$21.09 
Forfeited(28,841)$22.27 (340)$17.72 (29,181)$22.22 
Unvested restricted stock units at September 30, 2024
56,019 $17.76 85,439 $16.13 141,458 $16.78 
 (a)    The number of shares earned above target are based on the performance target established by the Compensation Committee at the initial grant date.
Nine Months Ended September 30, 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 5,648 $21.00 34,489 $22.06 
Shares earned above target (a)3,940 $35.72 — $— 3,940 $35.72 
Vested(58,834)$22.10 (16,291)$19.46 (75,125)$21.53 
Forfeited(8,869)$35.10 (2,380)$14.54 (11,249)$30.75 
Unvested restricted stock units at September 30, 2023
95,264 $23.49 20,367 $21.86 115,631 $23.20 

(a)    The number of shares earned above target are based on the performance targets established by the Compensation Committee at the initial grant date.
There were no vested or unvested of restricted shares of common stock for nine months ended September 30, 2024. Changes in the Company’s restricted shares of common stock for the nine months ended September 30, 2023 were as follows:
 Nine Months Ended
September 30,
 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(17,410)$9.57 
Unvested restricted shares of common stock at September 30,
— $—