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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
We recognized stock-based compensation expense as follows (amounts in thousands):
Years Ended
December 31,
2025
December 31,
2024
December 31,
2023
Restricted stock$7,091 $7,049 $6,191 
Performance stock4,714 4,843 2,953 
Stock appreciation rights— — 533 
Stock options— — 19 
Total stock-based compensation expense$11,805 $11,892 $9,696 
Summary of stock options activity
A summary of stock option activity for the year ended December 31, 2025, is presented below.
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding at January 1, 20258,061$89.83 
Exercised(5,829)$72.78 
Forfeited$— 
Granted$— 
Outstanding at December 31, 20252,232$134.36 4.3$196 
Exercisable at December 31, 20252,232$134.36 4.3$196 
A summary of Sandstorm option activity for the year ended December 31, 2025, is presented below:
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding at January 1, 2025$— 
Assumed options as part of Sandstorm acquisition710,780$105.36 
Exercised(166,979)$91.84 
Forfeited$— 
Outstanding at December 31, 2025543,801$109.51 2.3$61,330 
Exercisable at December 31, 2025543,801$109.51 2.3$61,330 
Summary of SSARs activity
A summary of SSARs activity for the year ended December 31, 2025, is presented below:
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Life (Years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding at January 1, 2025128,386$119.06 
Exercised(47,101)$104.61 
Forfeited$— 
Granted$— 
Outstanding at December 31, 202581,285$127.44 4.0$7,710 
Exercisable at December 31, 202581,285$127.44 4.0$7,710 
Summary of non-vested awards
A summary of the status of our outstanding TSR shares at maximum (200%) attainment for the year ended December 31, 2025, is presented below:
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Outstanding at January 1, 2025221,458$124.26 
Granted72,120$184.36 
Vested(17,948)$148.89 
Non-attainment(29,283)$145.85 
Forfeited(11,547)$139.59 
Outstanding at December 31, 2025234,800$137.39 
Summary of the status of non-vested restricted stock
A summary of the status of our unvested Restricted Stock for the year ended December 31, 2025, is presented below:
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Outstanding at January 1, 2025145,946$112.13 
Granted50,264$145.04 
Vested(63,860)$116.88 
Forfeited$— 
Outstanding at December 31, 2025132,350$122.34