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EQUITY-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Awards
The following table summarizes time-based restricted stock award activity under our Equity Plan for the nine months ended September 30, 2023:

 
 Number
 of Shares
Weighted-Average
Grant Date 
Fair Value
Aggregate
Current Value
  (per share)(in thousands)
Non-vested at December 31, 2022654,804 $9.85 $4,728 
Granted449,148 7.71 
Vested(238,883)8.04 
Forfeited(2,061)8.50 
Non-vested at September 30, 2023863,008 $8.79 $5,005 
The following table summarizes performance-based restricted stock activity under the Equity Plan for the nine months ended September 30, 2023: 
 Number 
of Shares
Weighted-Average
Grant Date 
Fair Value (1)
Aggregate
Current Value
  (per share)(in thousands)
Non-vested at December 31, 20221,006,974 $11.76 $7,270 
Granted425,907 10.08 
Vested(239,416)9.38 
Forfeited(137,193)9.38 
Non-vested at September 30, 20231,056,272 $11.93 $6,126 

(1)    The amounts included in this column represent the expected future value of the performance-based restricted stock awards calculated using the Monte Carlo simulation valuation model.
Schedule of Equity-based Compensation Expense
Equity-based compensation expense included in Corporate general and administrative expenses in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and 2022 was as follows (in thousands):
 
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2023202220232022
Time-based restricted stock$880 $566 $2,418 $1,806 
Performance-based restricted stock987 665 2,740 4,462 
Director stock— — 755 802 
$1,867 $1,231 $5,913 $7,070 
Schedule of Unrecognized Equity-based Compensation Expense for all Non-vested Awards
Unrecognized equity-based compensation expense for all non-vested awards pursuant to our Equity Plan was $10.7 million at September 30, 2023 and will be recorded as follows (in thousands):
 Total2023202420252026
Time-based restricted stock$4,929 $845 $2,539 $1,337 $208 
Performance-based restricted stock5,817 987 2,914 1,654 262 
 $10,746 $1,832 $5,453 $2,991 $470