SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2025

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

13.          SHARE-BASED COMPENSATION

During the three months ended March 31, 2025, the Company granted time-based restricted stock units and performance-based shares to certain of its employees totaling approximately 133,200 shares with a combined weighted average grant date fair value of $143.66 per share.

Total share-based compensation cost recognized in the Condensed Consolidated Statements of Income and Comprehensive Income as a component of general and administrative expenses was $5.8 million and $5.7 million for the three months ended March 31, 2025 and 2024, respectively. Total unrecognized compensation cost related to unvested share-based compensation arrangements was $38.5 million at March 31, 2025, and is expected to be recognized over a weighted average period of approximately 1.9 years. Total unrecognized compensation cost may be adjusted for any unearned performance shares or forfeited shares.