Equity Incentive Programs

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Equity Incentive Programs

Equity Incentive Programs

Equity Incentive Compensation Expense

Equity incentive compensation expense was recorded primarily in selling, general and administrative expenses in the condensed consolidated statements of operations. The total compensation expense recognized related to all equity incentive programs for the three months ended March 31, 2024 and 2023, was as follows:

	Three Months Ended March 31,
	2024		2023
Restricted Stock (“RS”) and Restricted Stock Units (“RSU”) equity awards expense	$	1.8	$	0.9
Deferred Stock Units (“DSU”) awards expense	—		0.1
Total equity incentive compensation expense	$	1.8	$	1.0

Total future compensation expense related to all equity incentive programs granted as of March 31, 2024, was estimated to be $11.8 million, which consists entirely of expense for RS and RSU awards. Estimated future compensation expense is $4.6 million for the remainder of 2024, $4.5 million for 2025, $2.4 million for 2026 and $0.3 million for 2027.

Restricted Stock and Restricted Stock Units

The following table is a summary of RS and RSU award activity for the three months ended March 31, 2024:

	Restricted Stock				Restricted Stock Units
	Shares	Weighted- Average Grant Date Fair Value Per Share		Weighted- Average Remaining Contractual Term (years)	Units	Weighted- Average Grant Date Fair Value Per Unit		Weighted- Average Remaining Contractual Term (years)
Nonvested at December 31, 2023	3,990,018	$	4.01	1.4	147,980	$	4.00	1.4
Granted	1,288,091	5.42			44,888	5.42
Vested	(869,360)	3.89			(27,087)	3.79
Forfeited	(73,603)	4.03			—	—
Nonvested at March 31, 2024	4,335,146	$	4.45	1.9	165,781	$	4.42	1.9

Deferred Stock Units

The following table is a summary of DSU award activity for the three months ended March 31, 2024:

	Deferred Stock Units
	Units	Weighted-Average Grant Date Fair Value Per Unit
Outstanding at December 31, 2023	865,267	$	6.30
Dividend equivalents granted	8,347	6.04
Settled	(18,101)	17.65
Outstanding at March 31, 2024	855,513	$	6.05