Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Restricted Stock Awards

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Restricted Stock

The following table presents information about the Company’s RSAs:

	For the Three Months Ended March 31,
(in thousands)	2023		2022
Compensation cost	$	1,728	$	610
Dividends declared on unvested RSAs		136		97
Fair value of shares vested during the period		2,864		3,209

As of March 31, 2023, there was $7.3 million of unrecognized compensation costs related to the unvested restricted shares, which is expected to be recognized over a weighted average period of 3.0 years.

Summary of Restricted Stock Activity

The following table presents information about the Company’s restricted stock activity:

	For the Three Months Ended March 31,
	2023					2022
(in thousands, except per share amounts)	Number of Shares			Weighted Average Grant Date Fair Value per Share		Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested at beginning of period		396		$	20.36		372		$	19.62
Granted		259			17.75		142			21.66
Vested		(160	)		20.36		(146	)		19.80
Forfeited		—			—		(1	)		26.41
Unvested at end of period		495			19.00		367			20.33

Performance-based Restricted Stock Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Restricted Stock

The following table presents compensation cost recognized on the Company’s PRSUs:

	For the Three Months Ended March 31,
(in thousands)	2023		2022
Compensation cost	$	151	$	319

As of March 31, 2023, there was $5.8 million of unrecognized compensation costs related to the unvested PRSUs, which is expected to be recognized over a weighted average period of 2.6 years.

Summary of Restricted Stock Activity

The following table presents information about the Company’s performance-based restricted stock unit activity:

	For the Three Months Ended March 31,
	2023					2022
(in thousands, except per share amounts)	Number of Shares			Weighted Average Grant Date Fair Value per Share		Number of Shares		Weighted Average Grant Date Fair Value per Share
Unvested at beginning of period		233		$	26.27		110	$	24.40
Granted		186			23.78		122		27.93
Vested		—			—		—		—
Forfeited		(61	)		26.80		—		—
Unvested at end of period		358			25.01		232		26.25