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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
The following table presents the total stock-based compensation expense, which is included in selling, general and administrative expenses (in thousands):
Years Ended December 31,
202320222021
Restricted share expense$2,584 $2,683 $4,491 
Stock option expense1,490 1,142 1,913 
Total stock-based compensation expense$4,074 $3,825 $6,404 
Tax benefit related to stock-based compensation$1,045 $857 $2,234 
Schedule of Restricted Share Activity, Excluding Company's Employee Stock Purchase Plan
The following table summarizes the Company’s restricted share activity, excluding the Company’s employee stock purchase plan:
Number of
shares
Weighted
average
grant
date fair
value
Unvested at December 31, 2022534,080 $11.85 
Granted149,859 9.37 
Vested(74,040)10.81 
Vested shares forgone to satisfy minimum statutory withholding(41,558)10.81 
Forfeitures(38,479)11.17 
Unvested at December 31, 2023529,862 $11.42 
Year Ended December 31,
202320222021
Weighted average grant date fair value of awards granted$9.37 $9.44 $18.85 
Total fair value of shares vested$649,700 $260,112 $920,125 
Total fair value of shares forgone to satisfy minimum statutory withholding$364,670 $172,662 $32,282 
Schedule of PSU Activity
The following table summarizes the Company’s PSU activity:
Number of sharesWeighted
average
grant
date fair value
Unvested at December 31, 2022125,117 $9.51 
Granted71,639 11.59 
Forfeitures(83,980)9.97 
Unvested at December 31, 2023112,776 $10.49 
Year Ended December 31,
202320222021
Weighted average grant date fair value of awards granted$11.59 $8.58 $19.50 
Total fair value of shares vested$— $680,026 $1,335,053 
Total fair value of shares forgone to satisfy minimum statutory withholding$— $506,036 $1,078,747 
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity The following table summarizes the activity relating to the Company’s ESPP program:
Years Ended December 31,
202320222021
Compensation expense$179,595 $229,064 $173,561 
Shares of stock sold to employees71,623 60,673 31,624 
Weighted average fair value per ESPP award$7.32 $11.53 $16.95 
Schedule of Share-based Payment Arrangement, Option, Activity
The following tables detail the various stock option activity:
2014 Plan (Options)Number
of Authorized
Shares
Weighted-
Average Exercise
Price
Weighted-
Average
Remaining
Contractual Term (in Years)
Aggregate
Intrinsic Value
Outstanding at December 31, 20221,174,727 $5.76 3.95$4,463,307 
Exercised(262,724)3.58 
Exercised shares forgone to satisfy minimum statutory withholding(74,421)3.40 
Shares tendered for cashless exercise(116,236)3.62 
Forfeitures and expirations(64,000)11.72 
Outstanding at December 31, 2023657,346 $6.69 4.16$2,983,514 
Exercisable at December 31, 2023643,509 $6.44 4.10$2,983,514 
Aggregate Intrinsic Value = Excess of market value over the option exercise price of all in-the-money stock options.
2021 Plan (Options)Number
of Authorized
Shares
Weighted-
Average Exercise
Price
Weighted-
Average
Remaining
Contractual Term (in Years)
Aggregate
Intrinsic Value
Outstanding at December 31, 2022544,799 $13.41 8.93$27,396 
Granted624,628 9.25 
Exercised(28,289)8.58 
Cashless exercise(21,711)8.58 
Forfeitures and expirations(67,754)15.24 
Outstanding at December 31, 20231,051,673 $11.05 8.79$1,207,118 
Exercisable at December 31, 2023296,982 $14.46 7.84$247,280 
Aggregate Intrinsic Value = Excess of market value over the option exercise price of all in-the-money stock options.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following is the average fair value per share estimated on the date of grant and the assumptions used for options granted:
Years Ended December 31,
Stock Options:202320222021
Expected volatility
52% to 53%
51% to 53%
43% to 46%
Risk free interest rate
3.71% to 4.83%
1.71% to 3.01%
0.31% to 0.54%
Expected lives at date of grant (in years)3.993.733.62
Weighted average fair value of options granted$4.10$3.67$6.56
Total intrinsic value of options exercised$3,155,770 $3,762,978 $4,248,401