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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The following table sets forth share-based award expense activity for the three and six months ended June 30, 2024 and 2023, which is included as a component of selling, general and administrative expenses and expenses in the homebuilding and financial services sections, respectively, of our consolidated statements of operations and comprehensive income:
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
(Dollars in thousands)
Stock option grants expense$— $45 $— $202 
Restricted stock awards expense281 2,963 1,319 6,525 
Performance share units expense— 1,779 — 3,558 
Total stock-based compensation$281 $4,787 $1,319 $10,285 
As of June 30, 2024, there are no awards outstanding.
Additional detail on the performance share units ("PSUs") expense is included below:
2021 PSU Grants. The 2021 PSU awards vested on February 2, 2024. For the three and six months ended June 30, 2023, the Company recorded share-based award expense of $1.8 million and $3.6 million, respectively, related to these awards.
2023 PSU Grants. For the quarter to date and year to date period through April 19, 2024, the Company concluded that achievement of any of the performance metrics had not met the level of probability required to record compensation expense and as such, no expense related to these awards was recognized. On April 19, 2024, Sekisui House, through the Sekisui House Group, completed the acquisition of the Company. As a part of the acquisition, all PSUs, whether vested or unvested, outstanding as of immediately prior to the closing of the Merger were fully vested, cancelled and automatically converted into the right to receive an amount in cash. As such, no share-based compensation expense related to these awards was recognized.