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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 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 DateRecord DatePayment DatePer Share Amount
Total Declared(1)
February 21, 2024March 15, 2024March 29, 2024$0.3125 $6,600 
May 1, 2024May 24, 2024June 24, 20240.3125 6,624 
Total$0.6250 $13,224 
(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 June 30,
For the Six Months Ended June 30,
(in thousands, except for share and per share amounts)2024202320242023
Numerator:
Net income$3,425 $4,733 $7,661 $7,850 
Denominator:
Basic weighted average common shares outstanding20,252,452 19,957,786 20,211,500 19,927,782 
Diluted weighted average common shares outstanding20,473,751 20,255,248 20,500,335 20,266,914 
Basic net income per common share$0.17 $0.24 $0.38 $0.39 
Diluted net income per common share$0.17 $0.23 $0.37 $0.39 
Schedule of Activities Under Equity Plan
The following table summarizes the activities under the 2020 Equity Plan from January 1, 2024, through June 30, 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
(296,920)
Total equity securities available at June 30, 2024978,784 
The following table summarizes the activities under the ESPP from January 1, 2024, through June 30, 2024:
 Activity
Total ESPP equity securities available at January 1, 2024109,762 
ESPP common stock purchased by eligible employees(9,933)
Total ESPP equity securities available at June 30, 202499,829 
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 six months ended June 30, 2024:
Shares
Weighted
Average Grant
Date Fair Value per Share
Unvested at January 1, 20241,035,268 $9.12 
Granted300,964 15.49 
Vested(405,813)10.01 
Forfeited(4,044)11.13 
Unvested at June 30, 2024926,375 $10.79 
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 June 30,
For the Six Months Ended June 30,
(Dollars in thousands)2024202320242023
Performance-based RSUs$458 $373 $919 $754 
Time-based RSUs, DSUs and restricted stock679 535 1,346 1,077 
ESPP22 15 42 28 
Total stock-based compensation$1,159 $923 $2,307 $1,859