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Stock-Based Compensation Plan (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Arrangement
Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands):

Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
Compensation expense$423 $389 $1,181 $1,044 
Schedule of Share-Based Compensation, Activity
The following table presents restricted stock unit award activity for the periods indicated:
Weighted-
Average Grant
Number ofDate Fair Value
Shares
per Share (1)
Restricted stock unit awards at January 1, 2024
58,587 $41.16 
Granted (2)
53,266 $29.96 
Vested(30,430)$39.03 
Forfeited(3,491)$36.67 
Restricted stock unit awards at September 30, 2024
77,932 $34.54 
_______________
(1)Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.
(2)The aggregate grant date fair value of restricted stock unit awards issued during the first nine months of 2024 was $1.6 million based on grant date market prices of our common shares ranging from $24.51 to $30.03 per share.
The following table presents performance share unit award activity for the periods indicated:
Weighted-
Average Grant
Number ofDate Fair Value
Shares
per Share (1)
Performance share unit awards at January 1, 2024
17,424 $31.03 
Granted (2)
29,546 $30.01 
Vested(6,445)$29.72 
Forfeited(524)$30.26 
Performance share unit awards at September 30, 2024
40,001 $30.50 
_______________
(1)Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.
(2)The aggregate grant date fair value of performance share unit awards issued during the first nine months of 2024 was $0.9 million based on grant date market prices of our common shares ranging from $24.58 to $30.03 per share and assuming a performance factor of 100 percent.