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Shareholders' Equity and Share-Based Compensation (Notes)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Shareholders' Equity and Share-based Compensation SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION
Preferred Stock. The Company’s Board of Directors has designated 6,600,000 shares of the Company’s preferred stock for issuance as Series C Preferred Stock, of which the Company has 4,460,000 of such shares outstanding as of March 31, 2022. The Series C Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption, and will remain outstanding indefinitely unless redeemed or otherwise repurchased or converted into common stock pursuant to the terms of the Series C Preferred Stock. Except under certain limited circumstances described in Article IIIC of the Company’s Restated Articles of Incorporation, the Company may not redeem the Series C Preferred Stock prior to April 15, 2025. On or after that date, the Series C Preferred Stock may be redeemed at any time and from time to time at the Company's option at a cash redemption price of $25.00 per share plus any accumulated and unpaid dividends. Because the Series C Preferred Stock is redeemable only at the option of the issuer, it is classified as equity on the Company’s consolidated balance sheet.

The Series C Preferred Stock pays a cumulative cash dividend equivalent to 6.900% of the $25.00 liquidation preference per share each year until April 15, 2025. The terms of the Series C Preferred Stock state that upon April 15, 2025 and thereafter, the Company will pay cumulative cash dividends at a percentage of the $25.00 liquidation value per share equal to an annual floating rate of 3-month LIBOR plus a spread of 5.461%. However, because 3-month LIBOR will cease to be a published rate as of June 30, 2023, the fallback provision provided in the terms of the Series C Preferred Stock will allow for the Company to appoint a third-party independent financial institution of national standing to select an industry accepted alternative base rate. The Company paid its regular quarterly dividend of $0.43125 per share of Series C Preferred Stock on April 15, 2022 to shareholders of record as of April 1, 2022.
Common Stock. During the three months ended March 31, 2022, the Company issued 267,288 shares of its common stock through its ATM program at an aggregate value of $4,245, net of $54 in broker commissions and fees.

Share-Based Compensation. Total share-based compensation expense recognized by the Company for the three months ended March 31, 2022 was $846 compared to $452 for the three months ended March 31, 2021.

The following tables present a rollforward of share-based awards for the periods indicated:
Three Months Ended
March 31,
 20222021
Type of AwardSharesWeighted Average
Grant Date Fair Value
Per Share		SharesWeighted Average
Grant Date Fair Value
Per Share
Restricted stock:
Awards outstanding, beginning of period197,804 $15.27 281,761 $14.74 
Granted40,196 15.19 16,722 19.03 
Vested(44,805)17.79 (59,024)18.02 
Awards outstanding, end of period193,195 $14.67 239,459 $14.23 
RSUs:
Awards outstanding, beginning of period55,019 $19.40 — $— 
Granted73,767 15.19 — — 
Vested— — — — 
Awards outstanding, end of period128,786 $16.99 — $— 
PSUs:
Awards outstanding, beginning of period110,040 $19.40 — $— 
Granted147,542 15.19 — — 
Vested— — — — 
Awards outstanding, end of period257,582 $16.99 — $— 

The number of RSUs that may potentially vest will range from 0% if the recipient’s time-based vesting condition is not met to 100% if the time-based vesting condition is met. The number of PSUs that may potentially vest will range from 0% to 200% based on the achievement of the performance goals defined in the grant award. As of March 31, 2022, the Company expects 100% of all PSUs will vest. The Company has accrued for DERs of $162 and $81 for RSUs and PSUs, respectively, as of March 31, 2022 and $100 and $50, respectively as of December 31, 2021, which is included on the Company’s consolidated balance sheet within “accrued dividends payable.”
The following table discloses the grant date fair value of the Company’s remaining unvested awards as of March 31, 2022, which will be amortized into compensation expense over the period disclosed:

March 31, 2022
Remaining Compensation CostWAVG Period of Recognition
(in Years)
Restricted stock$1,871 1.8
RSUs1,833 2.5
PSUs3,543 2.4
Total$7,247 2.3