STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2022

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

NOTE 11. STOCK–BASED COMPENSATION

We grant various forms of stock–based compensation to our employees and non–employee directors. These stock–based awards can consist of stock options, stock appreciation rights, restricted stock awards, restricted stock units (“RSUs”), performance–based RSUs, other stock–based awards and dividend equivalent rights. We recognize stock–based compensation expense related to restricted stock awards, RSUs, performance–based RSUs and shares issued under our ESPP.

The following table presents the stock–based compensation expense recognized in our unaudited condensed consolidated statements of operations:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Equity award expense	$	2,998	$	2,900	$	9,035	$	8,741
Liability award expense		24		127		904		1,121
Total stock-based compensation expense	$	3,022	$	3,027	$	9,939	$	9,862

The following table presents our restricted stock activity in the nine months ended September 30, 2022:

		Weighted
		Average
		Grant Date
	Shares	Fair Value
	(in thousands)	Per Share
Non-vested restricted stock, December 31, 2021	2,578	$	10.35
Granted	1,861		9.03
Vested	(1,152)		10.25
Canceled	(244)		9.28
Non-vested restricted stock, September 30, 2022 (1)	3,043	$	9.67

(1) Comprised of 508 cash-settled units and 2,534 stock–settled awards and units.

As of September 30, 2022, there was $17.1 million of unrecognized stock–based compensation expense which is expected to be recognized over a weighted average period of 1.9 years.