
	Target PSUs		Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2021	687,219	$	6.47
Granted	268,947		6.44
Vested	—		—
Forfeited	(141,002)		11.97
Nonvested at December 31, 2021	815,164	$	5.51
Granted	420,989		10.22
Vested	(227,510)		9.17
Forfeited	(21,481)		6.14
Nonvested at December 31, 2022	987,162	$	6.66
Granted	473,157		9.04
Vested	(302,988)		3.28
Forfeited	(100,995)		5.14
Nonvested at December 31, 2023	1,056,336	$	8.84


	Option Shares		Weighted-Average Exercise Price	Weighted-Average Remaining Contractual Term ⁽¹⁾	Options Exercisable		Weighted-Average Exercise Price
Outstanding at January 1, 2023	1,075,000	$	5.05	1.99	1,075,000	$	5.05
Granted ⁽²⁾	1,020,000		5.61
Exercised	(25,000)		5.05
Cancelled or forfeited ⁽²⁾	(1,020,000)		5.05
Expired	—		—
Outstanding at December 31, 2023	1,050,000	$	5.59	1.81	285,000	$	5.55

(1)In years

(2)Employees with options expiring in December 2024 were given the option to cancel their existing $5.05 options and exchange them for $5.61 options expiring in September 2033. Six employees exchanged their options. The exchange increased compensation expense related to employee stock options by $0.6 million for the year ended December 31, 2023.

Stock Options Valuation Assumptions

Assumptions for Employee Stock Options


	2023
Risk-free interest rate	4.27%
Expected life	6.8 years
Expected volatility	58.1%
Expected dividend	0%
Forfeiture rate	0

Stock-Based Compensation Expense Recognized In General And Administrative Expenses


	For the year ended December 31,
Amounts in thousands	2023		2022		2021
Compensation expense:
2016 Plan	$	3,610	$	3,335	$	2,652