Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Cash Dividends Declared

The following table details our cash dividends declared and paid in 2024 through the date hereof:

					(Dollars in thousands)
Declaration Date	Record Date	Payment Date	Per Share Amount		Total Declared(1)
February 21, 2024	March 15, 2024	March 29, 2024	$	0.3125	$	6,600
Total			$	0.3125	$	6,600

(1) The total declared reflects the cash dividends declared in relation to common stock, deferred stock units ("DSUs") and unvested RSUs.

Schedule of Basic and Diluted Net Income Per Common Shares

The components of basic and diluted net income per common share were as follows for the periods stated:

	For the Three Months Ended March 31,
(in thousands, except for share and per share amounts)	2024		2023
Numerator:
Net income	$	4,236	$	3,117
Denominator:
Basic weighted average common shares outstanding	20,170,548		19,897,445
Diluted weighted average common shares outstanding	20,446,587		20,182,692
Basic net income per common share	$	0.21	$	0.16
Diluted net income per common share	$	0.21	$	0.15

Schedule of Activities Under Equity Plan

The following table summarizes the activities under the 2020 Equity Plan from January 1, 2024, through March 31, 2024:

	Activity
Total equity securities available at January 1, 2024	1,275,704
RSU, DSU and restricted stock awarded to eligible employees, net of forfeitures	(289,085)
Total equity securities available at March 31, 2024	986,619

The following table summarizes the activities under the ESPP from January 1, 2024, through March 31, 2024:

	Activity
Total ESPP equity securities available at January 1, 2024	109,762
ESPP common stock purchased by eligible employees	—
Total ESPP equity securities available at March 31, 2024	109,762

Summary of Outstanding RSUs

The following table details activities with respect to outstanding RSUs, DSUs, and restricted stock under the 2020 Equity Plan for the three months ended March 31, 2024:

	Shares	Weighted Average Grant Date Fair Value per Share
Unvested at January 1, 2024	1,035,268	$	9.12
Granted	293,129	15.48
Vested	(398,161)	10.01
Forfeited	(4,044)	11.13
Unvested at March 31, 2024	926,192	$	10.74

Schedule of Stock Based Compensation Expense

The following table reflects the items for stock-based compensation expense in the Condensed Consolidated Statements of Operations for the periods stated:

	For the Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Performance-based RSUs	$	461	$	381
Time-based RSUs, DSUs and restricted stock	667		542
ESPP	20		13
Total stock-based compensation	$	1,148	$	936