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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Restricted Stock Awards ("RSAs")

Restricted Stock Awards (“RSAs”) generally vest in annual installments between one and three years from each grant date. The following table provides a summary of RSAs for the nine months ended September 30, 2021:

 

 

 

Number of Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Unvested at January 1, 2021

 

 

834,258

 

 

$

21.68

 

Granted

 

 

426,629

 

 

 

20.54

 

Vested

 

 

(449,406

)

 

 

19.07

 

Forfeited

 

 

(19,565

)

 

 

22.50

 

Unvested at September 30, 2021

 

 

791,916

 

 

$

22.53

 

 

 

 

 

 

 

 

Schedule of Performance Stock Units ("PSUs") The following table provides a summary of PSUs for the nine months ended September 30, 2021:

 

 

Number of Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Unvested at January 1, 2021

 

 

1,078,555

 

 

$

18.70

 

Granted

 

 

327,110

 

 

 

27.17

 

Vested

 

 

(428,255

)

 

 

16.33

 

Forfeited

 

 

(5,642

)

 

 

20.29

 

Unvested at September 30, 2021

 

 

971,768

 

 

$

22.59

 

Schedule of Grant Date Fair Values of Awards Using Monte Carlo Simulation Valuation Model

The grant date fair values of the awards that are subject to the achievement of market conditions based on total shareholder return were determined using a Monte Carlo simulation valuation model with the following assumptions:

 

Expected volatility(1)

 

 

60.0

%

Dividend yield(2)

 

 

 

Risk-free rate

 

 

0.2

%

Expected term

 

3 years

 

 

(1) The weighted average expected volatility was 60.0%.

(2) Dividends are assumed to be reinvested in shares of our common stock and dividends will not be paid unless shares vest.