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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Recognized Compensation Expenses

The Company recognized compensation expense related to the Amended 2018 Plan for the years ended December 31, 2024, 2023 and 2022 as follows (in thousands):

 

 

 

2024

 

 

2023

 

 

2022

 

Stock option plan expense

 

$

993

 

 

$

631

 

 

$

552

 

Restricted stock expense

 

$

17,115

 

 

$

14,433

 

 

$

15,652

 

Summary of Options Activity

A summary of the activity of the Company’s stock options is presented below:

 

 

 

Shares

 

 

Wtd. Avg.
Exercise
Price

 

 

Wtd. Avg.
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic
Value

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

(In thousands)

 

Options outstanding at January 1, 2024

 

 

2,038

 

 

$

16.94

 

 

 

5.48

 

 

$

2,558

 

Granted

 

 

389

 

 

 

13.08

 

 

 

 

 

 

 

Exercised

 

 

(584

)

 

 

14.77

 

 

 

 

 

 

 

Forfeited/Canceled

 

 

(211

)

 

 

17.53

 

 

 

 

 

 

 

Options outstanding at December 31, 2024

 

 

1,632

 

 

$

16.64

 

 

 

5.59

 

 

$

19,520

 

Options vested and expected to vest at December 31, 2024

 

 

1,567

 

 

$

16.86

 

 

 

5.45

 

 

$

18,436

 

Options exercisable at December 31, 2024

 

 

902

 

 

$

21.81

 

 

 

3.33

 

 

$

6,569

 

The following table summarizes information relative to stock option activity during the years ended December 31, 2024, 2023 and 2022 (in thousands):

 

 

 

2024

 

 

2023

 

 

2022

 

Intrinsic value of options exercised

 

$

4,804

 

 

$

94

 

 

$

24

 

Fair value of shares vested

 

$

658

 

 

$

519

 

 

$

600

 

Exercise Prices and Related Information of Stock Option Outstanding

The following table summarizes information about the exercise prices and related information of stock options outstanding under the Amended 2018 Plan at December 31, 2024:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Exercise Prices ($)

 

Number
Outstanding

 

 

Wtd. Avg.
Remaining
Contractual
Life

 

 

Wtd. Avg.
Exercise
Price

 

 

Number
Exercisable

 

 

Wtd. Avg.
Remaining
Contractual
Life

 

 

Wtd. Avg.
Exercise
Price

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0-8.75

 

 

300

 

 

 

6.68

 

 

$

6.53

 

 

 

117

 

 

 

6.51

 

 

$

6.83

 

8.75-18.23

 

 

702

 

 

 

8.16

 

 

$

12.00

 

 

 

155

 

 

 

5.64

 

 

$

13.59

 

18.23-27.35

 

 

290

 

 

 

3.10

 

 

$

21.55

 

 

 

290

 

 

 

3.10

 

 

$

21.55

 

27.35-34.42

 

 

340

 

 

 

1.38

 

 

$

30.94

 

 

 

340

 

 

 

1.38

 

 

$

30.94

 

Total

 

 

1,632

 

 

 

5.59

 

 

$

16.64

 

 

 

902

 

 

 

3.33

 

 

$

21.81

 

Summary of Non-vested Stock Option Activity

The following table summarizes the status of non-vested stock options as of December 31, 2024 and changes during the year ended December 31, 2024:

 

 

 

Number of Shares

 

 

Wtd. Avg. Grant
Date Fair Value

 

 

 

(In thousands)

 

 

 

 

Options non-vested at January 1, 2024

 

 

410

 

 

$

2.95

 

Granted

 

 

389

 

 

 

6.64

 

Vested

 

 

(270

)

 

 

2.44

 

Forfeited

 

 

(211

)

 

 

3.59

 

Options non-vested at December 31, 2024

 

 

318

 

 

$

4.86

 

Summary of Restricted Stock Activity

The following table summarizes the status of restricted stock awards as of December 31, 2024 and changes during the year ended December 31, 2024:

 

 

 

Shares

 

 

Wtd. Avg.
Grant Date
Fair value

 

 

 

(In thousands)

 

 

 

 

Restricted stock outstanding at January 1, 2024

 

 

3,999

 

 

$

7.78

 

Granted

 

 

1,821

 

 

 

13.65

 

Vested

 

 

(2,107

)

 

 

7.64

 

Forfeited/Canceled

 

 

(55

)

 

 

8.78

 

Restricted stock outstanding at December 31, 2024

 

 

3,658

 

 

$

9.77