STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2023

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

5.    STOCK-BASED COMPENSATION

We recognized stock-based compensation expense as follows (amounts in thousands):

	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2023		2022		2023		2022
Restricted stock	$	1,538	$	1,140	$	4,692	$	3,496
Performance stock		1,105		658		2,098		2,136
Stock appreciation rights		116		283		533		975
Stock options		4		9		19		25
Total stock-based compensation expense	$	2,763	$	2,090	$	7,342	$	6,632

Stock-based compensation expense is included within General and administrative expense in the consolidated statements of operations and comprehensive income.

During the three and nine months ended September 30, 2023 and 2022, we granted the following stock-based compensation awards:

	Three Months Ended			Nine Months Ended
	September 30,		September 30,	September 30,		September 30,
	2023	2022		2023	2022
	(Number of shares)			(Number of shares)
Performance stock (at maximum 200% attainment)	380		—	82,740		39,380
Restricted Stock	180		—	56,710		28,220
Total equity awards granted	560		—	139,450		67,600

As of September 30, 2023, unrecognized compensation expense (expressed in thousands below) and weighted-average vesting period for each of our stock-based compensation awards were as follows:

	Unrecognized		Weighted-
	compensation		average vesting
	expense		period (years)
Restricted stock	$	8,534		1.9
Performance stock		6,743		1.9