XML 59 R42.htm IDEA: XBRL DOCUMENT v3.25.4
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The components of the Company’s share-based compensation expense for the years ended December 31, 2025, 2024 and 2023 are as follows:
Year Ended December 31,
202520242023
(in thousands)
Stock options$2,673 $708 $969 
Restricted stock units and deferred stock units7,080 6,870 6,657 
Performance stock units1,442 1,341 1,210 
Employee Stock Purchase Plan810 246 149 
Total pre-tax share-based compensation expense charged against income$12,005 $9,165 $8,985 
Total recognized tax deficiency related to share-based compensation$(729)$(607)$(773)
The following table summarizes the components of share-based compensation expense included within the Consolidated Statements of Comprehensive Income for the years ended December 31, 2025, 2024 and 2023:

Year Ended December 31,
202520242023
(in thousands)
Selling, general and administrative expenses$11,790 $9,086 $8,942 
Costs of services provided215 79 43 
Total share-based compensation expense$12,005 $9,165 $8,985 
Schedule of Other Information of Stock Option Plans
A summary of stock options outstanding under the Amended 2020 Plan and the 2012 Plan as of December 31, 2024 and changes during the year ended December 31, 2025 are as follows:
Stock Options Outstanding
Number of SharesWeighted Average Exercise Price
(in thousands)
December 31, 20242,528 $28.23 
Granted269 11.76 
Exercised— — 
Forfeited— — 
Expired(311)31.92 
December 31, 20252,486 $25.99 
Schedule of Assumption For Fair Value of Options Granted
The fair value of stock option awards granted in 2025, 2024 and 2023 were estimated on the dates of grant using the Black-Scholes option valuation model with the following assumptions:
Year Ended December 31,
202520242023
Risk-free interest rate4.5%3.9%4.0%
Weighted average expected life7.2 years7.0 years6.9 years
Expected volatility42.1%40.5%39.5%
Dividend yield—%—%—%
Schedule of Information of Stock Options Outstanding
The following table summarizes other information about the stock options at December 31, 2025:
December 31, 2025
(amounts in thousands, except per share data)
Outstanding:
Aggregate intrinsic value$5,999 
Weighted average remaining contractual life4.6 years
Exercisable:
Number of options1,680 
Weighted average exercise price$31.94 
Aggregate intrinsic value$1,171 
Weighted average remaining contractual life3.1 years
Schedule of Restricted Stock Units and Deferred Stock Units
A summary of the outstanding RSUs and DSUs as of December 31, 2024 and changes during the year ended December 31, 2025 is as follows:
Restricted Stock Units & Deferred Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 20241,516 $13.98 
Granted743 $11.90 
Vested(408)$16.17 
Forfeited(60)$12.33 
December 31, 20251,791 $12.68 
Schedule of Weighted Average Grant-Date Fair Values and Intrinsic Values of Options Vested
The weighted average grant date fair values and total fair values of RSUs and DSUs vested during 2025, 2024 and 2023 were as follows:
Year Ended December 31,
202520242023
(in thousands, except per share data)
Weighted average grant date fair value of RSUs and DSUs granted$11.90 $10.39 $13.72 
Total fair value of RSUs and DSUs vested$4,706 $3,257 $2,991 
The weighted average grant date fair values and total fair values of PSUs vested during 2025, 2024 and 2023 were as follows:

Year Ended December 31,
202520242023
(in thousands, except per share data)
Weighted average grant-date fair value of PSUs granted$14.75 $11.85 $16.20 
Total fair value of PSUs vested$319 $— $— 
Schedule of Outstanding Performance Stock Units
A summary of the outstanding PSUs as of December 31, 2024 and changes during the year ended December 31, 2025 is as follows:
Performance Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 2024258 $15.31 
Granted106 $14.75 
Vested(31)$21.00 
Forfeited(29)$21.00 
December 31, 2025304 $14.00 
Schedule of ESPP Annual Offerings
The following table summarizes information about the Company’s ESPP annual offerings for the years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
202520242023
(in thousands, except per share data)
Common shares purchased88 88 95 
Per common share purchase price$9.88 $8.81 $8.81 
Schedule of Options Granted Estimated Expense Valuation Assumptions
The expense associated with the options granted under the ESPP during the years ended December 31, 2025, 2024 and 2023 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Year Ended December 31,
202520242023
Risk-free interest rate4.2%4.8%4.8%
Weighted average expected life1.0 year1.0 year1.0 year
Expected volatility39.3%37.1%42.9%
Dividend yield—%—%7.1%
Schedule of Information Of SERP
The following table summarizes information about the SERP during the plan years ended December 31, 2025, 2024 and 2023:
Year Ended December 31,
 202520242023
(in thousands)
SERP expense1
$628 $579 $533 
Treasury shares issued to fund SERP expense2
32 49 50 
Year end SERP trust account balance3
$58,145 $51,138 $42,313 
Unrealized gain recorded in SERP liability account$7,261 $8,241 $6,684 
1.Both the SERP match and the deferrals are included in the selling, general and administrative expenses caption in the Consolidated Statements of Comprehensive Income.
2.Shares related to the SERP match for each year are funded at the beginning of the subsequent year.
3.SERP trust account investments are recorded at their fair values, which are based on quoted market prices.