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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The components of the Company’s share-based compensation expense for the nine months ended September 30, 2024 and 2023 are as follows:
Nine Months Ended September 30,
20242023
(in thousands)
Stock options$531 $716 
Restricted stock, restricted stock units and deferred stock units5,190 4,946 
Performance stock units1,003 888 
Employee Stock Purchase Plan104 243 
Total pre-tax share-based compensation expense charged against income$6,828 $6,793 
The following table summarizes the components of share-based compensation expense included within the Consolidated Statements of Comprehensive Income (Loss) for the nine months ended September 30, 2024 and 2023:

Nine Months Ended September 30,
20242023
(in thousands)
Selling, general and administrative expense$6,795 $6,723 
Costs of services provided33 70 
Total share-based compensation expense$6,828 $6,793 
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 nine months ended September 30, 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(1)$24.43 
Expired(182)$28.58 
September 30, 20242,545 $28.28 
Schedule of Assumption for Fair Value of Options Granted
The fair value of stock option awards granted during the nine months ended September 30, 2024 and 2023 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Nine Months Ended September 30,
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 September 30, 2024:
September 30, 2024
(amounts in thousands, except per share data)
Outstanding:
Aggregate intrinsic value$235 
Weighted average remaining contractual life4.7 years
Exercisable:
Number of options1,753 
Weighted average exercise price$33.92 
Aggregate intrinsic value$— 
Weighted average remaining contractual life3.2 years
Schedule of Outstanding Restricted Stock Units
A summary of the outstanding RSUs and DSUs as of December 31, 2023 and changes during the nine months ended September 30, 2024 is as follows:
Restricted Stock Units & Deferred Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 20231,102 $18.57 
Granted772 $10.38 
Vested(297)$21.68 
Forfeited(47)$13.60 
September 30, 20241,530 $13.98 
Schedule of Outstanding Performance Stock Units
A summary of the outstanding PSUs as of December 31, 2023 and changes during the nine months ended September 30, 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 
September 30, 2024258 $15.31 
Schedule of Options Granted Under Employee Stock Purchase Plan
The expense associated with the options granted under the ESPP during the nine months ended September 30, 2024 and 2023 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Nine Months Ended September 30,
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 nine months ended September 30, 2024 and 2023:
Nine Months Ended September 30,
 20242023
(in thousands)
SERP expense1
$496 $439 
Unrealized gain recorded in SERP liability account$7,769 $2,629 
1.Both the SERP match and the deferrals are included in the Selling, general and administrative expense caption within the Consolidated Statements of Comprehensive Income (Loss).