Stock-Based Compensation

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

A summary of restricted share activity for the nine months ended September 30, 2021 is as follows:


	2021
	Time-Based			Performance-Based
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
	(In whole shares)			(In whole shares)
Outstanding - beginning of year	741,006	$	22.02	50,000	$	32.55
Granted(a)	183,401	33.64		—	—
Vested	(234,081)	22.47		—	—

Canceled or expired	(7,917)	21.71		—	—
Outstanding - end of period	682,409	$	24.99	50,000	$	32.55

(a) - Included in this amount are 4,905 restricted share units.

Stock-based compensation is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. Total stock-based compensation expense for the three months ended September 30, 2021 and 2020 was $1.7 million and $1.6 million, respectively. Total stock-based compensation expense for the nine months ended September 30, 2021 and 2020 was $4.7 million and $4.4 million, respectively. As of September 30, 2021, there was $11.4 million of unrecognized compensation cost related to non-vested stock-based compensation, which cost is expected to be recognized over a weighted-average period of 2.0 years.