Stock-Based Compensation

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

A summary of restricted share activity for the nine months ended September 30, 2022 is as follows:


	2022
	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	655,093	$	24.62	50,000	$	32.55
Granted(a)	338,265	15.98		—	—
Vested	(215,305)	23.55		—	—

Canceled or expired	(14,581)	23.16		—	—
Outstanding - end of period	763,472	$	21.12	50,000	$	32.55

(a) - Included in this amount are 12,500 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 was $2.0 million and $1.7 million for the three months ended September 30, 2022 and 2021, respectively. Total stock-based compensation expense was $5.4 million and $4.7 million for the nine months ended September 30, 2022 and 2021, respectively. As of September 30, 2022, there was $9.8 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 1.9 years.