Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation [Abstract]

Summary of recognized stock-based compensation expense

The following table summarizes share-based compensation expense recognized:

	Years ended December 31,
	2023		2022		2021
Restricted stock units	$	16,425	$	6,323	$	6,396
Phantom stock units		107		222		209
Total	$	16,532	$	6,545	$	6,605

Summary of unrecognized compensation cost and weighted average remaining amortization periods

The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at December 31, 2023 (amortization periods in years):

	Unrecognized Compensation Cost		Weighted Average Remaining Amortization Periods
Restricted stock units	$	15,174		1.6
Phantom stock units		-		0.0
Total	$	15,174

Restricted stock units activity

RSU activity is presented below (number of RSUs in thousands):

	Years ended December 31,
	2023						2022						2021
	Number of RSUs			Weighted Average Grant-date Fair Value			Number of RSUs			Weighted Average Grant-date Fair Value			Number of RSUs			Weighted Average Grant-date Fair Value
Outstanding:
Beginning of year		894			$	19.73		877			$	20.08		793			$	18.90
Granted*		1,180				24.34		336				19.13		319				22.07
Vested**		(342	)			18.86		(306	)			20.04		(235	)			18.79
Cancelled or forfeited		(15	)			24.83		(13	)			20.50		-				-
End of year		1,717			$	23.03		894			$	19.73		877			$	20.08
Expected to vest		1,702						894						877

* Employees in certain countries are granted equity-linked awards that will be settled in cash and are accounted for as liability awards.  The liability awards are not material.  The number of RSUs granted excludes these awards.

** The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.

RSUs with performance-based vesting criteria

RSUs with performance-based and market-based vesting criteria are expected to vest as follows (number of RSUs in thousands):

Vesting Date	Expected to Vest		Not Expected to Vest		Total
January 1, 2024***		165		-		165
January 1, 2025		168		-		168
January 1, 2026		157		15		172

*** The performance vesting criteria for the performance-based RSUs with a vesting date of January 1, 2024 were achieved.

Phantom stock units activity under the 2007 Program

The following table summarizes the Company’s phantom stock units activity (number of phantom stock units in thousands):

	Years ended December 31,
	2023						2022					2021
	Number of Phantom Stock Units			Grant-date Fair Value per Unit			Number of Phantom Stock Units		Grant-date Fair Value per Unit			Number of Phantom Stock Units		Grant-date Fair Value per Unit
Outstanding:
Beginning of year		226						212					198
Granted		5			$	21.48		10		$	22.20		10		$	20.89
Dividend equivalents issued		2						4					4
Redeemed for common stock*		(113	)					-					-
End of year		120						226					212

* The number of phantom stock units redeemed for common stock includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.