XML 44 R33.htm IDEA: XBRL DOCUMENT v3.25.1
SHAREHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of summarizes activity for nonqualified stock options
The following presents activity for nonqualified stock options during the three months ended March 31, 2025:
Number
of
Options
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
Outstanding as of December 31, 202479,761$25.30 
Granted— 
Exercised— — 
Forfeited or expired(11,033)24.32 
Outstanding as of March 31, 202568,72825.46 0.91
(1)
Options fully vested / exercisable as of March 31, 202568,72825.46 0.91
(1)
______________________________________
(1)Nonqualified stock options outstanding at the end of the period and those fully vested/exercisable had immaterial aggregate intrinsic values.
Schedule of summarizes the activity for the Time Vesting Units, the Financial Performance Units and the Market Performance Units
The following presents the activity for the Time Vesting Units and the Financial Performance Units during the three months ended March 31, 2025:
Time
Vesting
Units
Financial
Performance
Units
Outstanding as of December 31, 2024215,343159,704
Granted10,443
Vested(54,617)
Forfeited (4,624)(2,043)
Outstanding as of March 31, 2025210,719113,487
Schedule of financial Performance Units activity
The following presents the Company’s existing Financial Performance Units as of March 31, 2025 (dollars in thousands, except share amounts):
Grant PeriodThreshold AccrualMaximum Issuable
Shares at Current
Threshold
Unrecognized Compensation
Expense
Weighted-Average (1)
Financial Metric End DateVesting Requirement End Date
On November 18, 2020114 %22,33622 0.6 yearsDecember 31, 2022
50% November 18, 2023 & 2025
May 3, 2021 through August 11, 202155 %15,30363 0.8 yearsDecember 31, 2023December 31, 2025
May 2, 2022 through November 2, 2022, excluding August 4, 2022 (2)
— %— 0.0 yearsDecember 31, 2024December 31, 2026
On August 4, 2022 (2)
— %— 0.0 yearsDecember 31, 2024December 31, 2026
On May 1, 2023 (3)
— %— 0.0 yearsDecember 31, 2025December 31, 2027
On May 1, 2024100 %38,631526 3.8 yearsDecember 31, 2026December 31, 2028
On March 17, 2025
138 %252 2.8 yearsDecember 31, 2027December 31, 2027
______________________________________
(1)Represents the expected unrecognized stock-based compensation expense recognition period.
(2) Performance threshold was not met for the years ended December 31, 2024, December 31, 2023, and December 31, 2022 and, therefore, no compensation expense was recognized for the years ended December 31, 2024, December 31, 2023, and December 31, 2022.
(3) As the performance threshold is not expected to be met in future performance periods, there is no related unrecognized compensation as of March 31, 2025.
The following presents the Company’s Financial Performance Units activity for the periods noted (dollars in thousands, except share amounts):
Units GrantedCompensation Expense Recognized
Three Months Ended March 31,Three Months Ended March 31,
Grant Period2025202420252024
May 1, 2020 through December 31, 2021, excluding November 18, 2020$— $(51)
On November 18, 202010 
May 3, 2021 through August 11, 202118 (93)
May 2, 2022 through November 2022, excluding August 4, 2022(1)
— — 
On August 4, 2022 (1)
— 14 
On May 1, 2023 (2)
— — 
On May 1, 202432 — 
On March 17, 2025
10,443— 
______________________________________
(1) Performance period ended December 31, 2024 and performance threshold was not met and, therefore, no compensation expense was recognized for the three months ended March 31, 2025 and 2024.
(2) Performance threshold was not met for the years ended December 31, 2024 and December 31, 2023, therefore, no compensation expense was recognized for the three months ended March 31, 2025 and 2024.