Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Equity Awards

The following table sets forth the Company’s equity awards, target payout ranges and authorized target restricted stock and stock units for the three months ended March 31, 2023 and 2022:

	Award Payout Range	Requisite Service Period	Target Stock and Stock Units
Three months ended March 31, 2023
Market condition awards	0%–150%	3 years	37,622
Performance condition awards	0%–150%	3 years	91,350
Service condition awards	N/A	1–4 years	944,522
Stock options	N/A	3–4 years	759,990
			1,833,484
Three months ended March 31, 2022
Market condition awards	0%–150%	3 years	28,495
Performance condition awards	0%–150%	3 years	26,214
Service condition awards	N/A	1–3 years	136,982
			191,691

The following table sets forth option activity for the three months ended March 31, 2023:

	Weighted-Average Exercise Price		Stock
Outstanding at January 1, 2023			—
Granted	$	15.00	759,990
Exercised			—
Forfeited			—
Outstanding at March 31, 2023	$	15.00	759,990

Schedule of Nonvested Share Activity

The following table sets forth the Company’s restricted stock and restricted stock units activity for the three months ended March 31, 2023 and 2022:

	Weighted-Average Grant-Date Fair Value		Stock and Stock Units
Non-vested at January 1, 2023	$	12.55	419,896
Granted	15.85		1,073,494
Vested	12.91		(32,496)
Forfeited	15.10		(7,459)
Non-vested at March 31, 2023	$	14.97	1,453,435
Non-vested at January 1, 2022	$	13.23	375,643
Granted	13.16		191,691
Vested	12.47		(55,851)
Forfeited	$	—	—
Non-vested at March 31, 2022	$	13.28	511,483