INCENTIVE COMPENSATION PROGRAM (Tables)

9 Months Ended

Sep. 30, 2023

Compensation Related Costs [Abstract]

Schedule of Nonvested Awards

Non-vested 2021 LTI Awards as of September 30, 2023 and awards granted during the period were as follows:

	Number of Tracking Units (in thousands)	Price per Tracking Unit
Balance at January 1, 2023	12,719	$	1.68
Granted	—	—
Vested	(6,359)	2.13
Forfeited	(368)	1.50
Unvested balance at September 30, 2023	5,992	$	1.16

Non-vested 2022 LTI Awards as of September 30, 2023 and awards granted during the period were as follows:

	Number of Tracking Units (in thousands)	Price per Tracking Unit
Balance at January 1, 2023	—	—
Granted	14,802	$	2.10
Vested	(4,934)	1.63
Forfeited	(574)	1.48
Unvested balance at September 30, 2023	9,294	$	1.16

Schedule of Recognized Compensation Expenses Related to the 2021 LTI Award and the 2022 LTI Award

The Company recognized share-based compensation expenses as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Share-based compensation expense	$	196	$	1,034	$	1,375	$	2,753

The Company recognized compensation expense related to the second and third tranches of the 2021 LTI Awards and the 2022 LTI Awards as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
2022 LTI Awards	$	1,085	$	—	$	6,064	$	—
2021 LTI Awards	(298)		2,832		740		17,112