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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The components of the Company’s share-based compensation expense for the three months ended March 31, 2024 and 2023 are as follows:
Three Months Ended March 31,
20242023
(in thousands)
Stock options$179 $212 
Restricted stock, restricted stock units and deferred stock units1,935 1,514 
Performance stock units330 247 
Employee Stock Purchase Plan40 85 
Total pre-tax share-based compensation expense charged against income$2,484 $2,058 

The following table summarizes the components of share-based compensation expense included within the Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and 2023:

Three Months Ended March 31,
20242023
(in thousands)
Selling, general and administrative expense$2,471 $2,033 
Costs of services provided13 25 
Total share-based compensation expense$2,484 $2,058 
Schedule of Stock Options Outstanding
A summary of stock options outstanding under the Amended 2020 Plan and the 2012 Plan as of December 31, 2023 and changes during the three months ended March 31, 2024 are as follows:
Stock Options Outstanding
Number of SharesWeighted Average Exercise Price
(in thousands)
December 31, 20232,438 $30.43 
Granted290 $10.36 
Exercised— $— 
Forfeited— $— 
Expired(172)$28.13 
March 31, 20242,556 $28.31 
Schedule of Assumption for Fair Value of Options Granted
The fair value of stock option awards granted in 2024 and 2023 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Three Months Ended March 31,
20242023
Risk-free interest rate3.9 %4.0 %
Weighted average expected life7.0 years6.9 years
Expected volatility40.5 %39.5 %
Dividend yield— %— %
Schedule of Other Information about Stock Options
The following table summarizes other information about the stock options at March 31, 2024:
March 31, 2024
(amounts in thousands, except per share data)
Outstanding:
Aggregate intrinsic value$614 
Weighted average remaining contractual life5.2 years
Exercisable:
Number of options1,763 
Weighted average exercise price$33.94 
Aggregate intrinsic value$— 
Weighted average remaining contractual life3.3 years
Schedule of Outstanding Restricted Stock Units
A summary of the outstanding restricted stock units as of December 31, 2023 and changes during the three months ended March 31, 2024 is as follows:
Restricted Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 20231,102 $18.57 
Granted738 $10.37 
Vested(297)$21.68 
Forfeited(10)$15.07 
March 31, 20241,533 $14.04 
Schedule of Outstanding Performance Stock Units
A summary of the outstanding PSUs as of December 31, 2023 and changes during the three months ended March 31, 2024 is as follows:

Performance Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 2023175 $21.52 
Granted118 $11.85 
Vested— $— 
Forfeited(35)$34.52 
March 31, 2024258 $15.31 
Schedule of Options Granted Under Employee Stock Purchase Plan
The expense associated with the options granted under the ESPP during the three months ended March 31, 2024 and 2023 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Three Months Ended March 31,
20242023
Risk-free interest rate4.8%4.8%
Weighted average expected life (years)1.01.0
Expected volatility37.1%42.9%
Dividend yield—%7.1%
Schedule of Supplemental Employee Retirement Plan
The following table summarizes information about the SERP during the three months ended March 31, 2024 and 2023:
Three Months Ended March 31,
 20242023
(in thousands)
SERP expense 1
$188 $157 
Unrealized gain recorded in SERP liability account$4,100 $1,546 
1.Both the SERP match and the deferrals are included in the “selling, general and administrative” caption within the Consolidated Statements of Comprehensive Income.