XML 36 R15.htm IDEA: XBRL DOCUMENT v3.25.3
Stock Based Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK BASED COMPENSATION STOCK BASED COMPENSATION
During the nine months ended September 30, 2025, the Company had the following activity related to stock based compensation:
Time-Vested Restricted Stock Awards
The Company made the following awards of time vested restricted stock:
DateShares GrantedPlanGrant Date Fair Value Per Share Vesting Period
2/15/20251,090 2023 Omnibus Incentive Plan$69.09 Ratably over 3 years from grant date
2/20/2025113,000 2023 Omnibus Incentive Plan$68.83 Ratably over 3 years from grant date
3/15/20252,600 2023 Omnibus Incentive Plan$62.84 Ratably over 3 years from February 20, 2025
4/15/20251,360 2023 Omnibus Incentive Plan$55.25 Ratably over 3 years from grant date
5/15/20251,540 2023 Omnibus Incentive Plan$65.05 Ratably over 3 years from grant date
5/20/202512,194 2018 Non-Employee Director Stock Plan$64.03 Immediately upon grant date
6/15/20253,380 2023 Omnibus Incentive Plan$66.67 Ratably over 3 years from grant date
7/01/20252,814 2018 Non-Employee Director Stock Plan$63.67 Immediately upon grant date
7/15/20257,620 2023 Omnibus Incentive Plan$65.63 At the end of 5 years from grant date
7/15/202525,220 2023 Omnibus Incentive Plan$65.63 Ratably over 3 years from grant date
9/15/20251,430 2023 Omnibus Incentive Plan$69.74 Ratably over 3 years from grant date

Performance-Based Restricted Stock Awards
On February 20, 2025, the Company granted 43,100 performance-based restricted stock awards, representing the maximum number of shares that may be earned under the awards, to certain executive level employees. These performance-based restricted stock awards were issued from the 2023 Omnibus Incentive Plan and were determined to have a grant date fair value per share of $68.83. The number of shares to be vested is contingent upon the Company’s attainment of certain performance criteria to be measured at the end of a three-year performance period ending December 31, 2027. The awards will vest upon the earlier of the date on which it is determined if the performance goal is achieved subsequent to the performance period, or March 15, 2028.
On March 19, 2025, the performance-based restricted stock awards that were awarded on February 17, 2022 vested at 78% of the maximum target shares awarded, or 10,255 shares, net of forfeitures.