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Stock Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Changes in Restricted Stock Units The following table summarizes information about the changes in restricted stock units for the six-months ended June 30, 2025 and 2024.

 

 

 

For the Six-Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

 

Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

Balance at beginning of period

 

 

71,656

 

 

$

34.36

 

 

 

53,817

 

 

$

37.04

 

Grants

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Vesting

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited/expired

 

 

(971

)

 

 

33.63

 

 

 

(2,389

)

 

 

34.80

 

Balance at end of period

 

 

70,685

 

 

$

34.37

 

 

 

51,428

 

 

$

37.14

 
Schedule of Changes in Performance Stock Units

The following table summarizes information about the changes in PSUs as of and for the six-months ended June 30, 2025 and 2024.

 

 

 

For the Six-Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

 

Performance-Based Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Performance-Based Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

Balance at beginning of period

 

 

96,206

 

 

$

35.83

 

 

 

75,227

 

 

$

40.24

 

Grants

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Performance adjustment (1)

 

 

11,031

 

 

 

47.19

 

 

 

—

 

 

 

—

 

Vesting

 

 

(33,104

)

 

 

47.19

 

 

 

(20,532

)

 

 

48.91

 

Forfeited/expired

 

 

(1,244

)

 

 

32.17

 

 

 

(2,493

)

 

 

35.21

 

Balance at end of period

 

 

72,889

 

 

$

32.45

 

 

 

52,202

 

 

$

37.07

 

(1) PSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. PSU awards are settled with payouts ranging from 0% to 200% of the target award value based on the Company's performance relative to a predefined peer group over a fixed three-year performance period. The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target.

Summary of Vested and Unvested Restricted Stock Outstanding

The following table summarizes information about vested and unvested restricted stock.

 

 

 

For the Six-Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

 

Restricted
Stock
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Restricted
Stock
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

Balance at beginning of period

 

 

24,348

 

 

$

30.91

 

 

 

25,190

 

 

$

27.79

 

Grants

 

 

24,876

 

 

 

33.78

 

 

 

22,950

 

 

 

30.51

 

Vesting

 

 

(24,348

)

 

 

30.91

 

 

 

(25,190

)

 

 

27.79

 

Forfeited/expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at end of period

 

 

24,876

 

 

$

33.78

 

 

 

22,950

 

 

$

30.51

 
Schedule of Analysis of Stock Option Activity An analysis of stock option activity for the six-months ended June 30, 2025 is presented in the table and narrative below:

 

 

 

Shares

 

 

Weighted-
Average Ex. Price

 

Outstanding, December 31, 2024

 

 

1,585,426

 

 

$

31.96

 

Granted

 

 

—

 

 

 

—

 

Exercised

 

 

(76,273

)

 

 

20.02

 

Cancelled

 

 

(54,055

)

 

 

34.08

 

Outstanding, June 30, 2025

 

 

1,455,098

 

 

 

32.51

 

Exercisable, June 30, 2025

 

 

874,166

 

 

$

29.39