consolidated statements of operations from stock-based compensation expense for the three months ended March 31, 2023 and March 31, 2022 was $1.0 million and $1.1 million, respectively.

The following table summarizes information about restricted stock awards for the three months ended March 31, 2023:


Restricted Stock	Number of Shares	Weighted Average Grant-Date Fair Value
Balance at January 1, 2023	427,142	$	84.64
Granted	112,449	130.50
Vested	(16,335)	83.21
Forfeited	(9,610)	102.97
Balance at March 31, 2023	513,646	$	94.39

As of March 31, 2023, there was $35.4 million of total unrecognized compensation cost arising from restricted stock awards. This cost is expected to be recognized over a weighted average period of 3.3 years. The total fair value of restricted stock vested during the three months ended March 31, 2023 and March 31, 2022 was $2.1 million and $1.7 million, respectively.

Performance stock awards are subject to performance criteria established by the Compensation Committee of the Company's Board of Directors prior to or at the date of grant. The vesting of the performance stock awards is based on achieving targets currently based on revenue, Adjusted EBITDA Margin, Return on Invested Capital and Total Recordable Incident Rate. In addition, performance stock awards include continued service conditions.

The following table summarizes information about performance stock awards for the three months ended March 31, 2023:


Performance Stock	Number of Shares	Weighted Average Grant-Date Fair Value
Balance at January 1, 2023	213,679	$	91.62
Granted	117,982	130.60
Vested	(58,636)	92.49
Forfeited	(4,237)	111.34
Balance at March 31, 2023	268,788	$	108.23

As of March 31, 2023, there was $6.8 million of total unrecognized compensation cost arising from unvested performance stock awards deemed probable of vesting. The total fair value of performance awards vested during the three months ended March 31, 2023 and March 31, 2022 was $7.8 million and $3.8 million, respectively.