Stock-Based Compensation

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

11. STOCK-BASED COMPENSATION

The Company recognized $0.2 million and $0.4 million in non-cash, stock-based compensation expense for the first quarter of 2022 and 2021, respectively.  During the first three months of 2022, the Company granted zero shares of restricted stock under its 2005 Executive Incentive Compensation Plan, as amended and restated. Most restricted shares vest in three equal installments on the first, second, and third anniversaries of the grant date. During the first three months of 2022, the Company granted zero shares of restricted stock under its Non-Employee Directors’ Restricted Stock Plan, as amended. The directors’ restricted shares vest on the first anniversary of the grant date. Unearned compensation expense is amortized into expense on a straight-line basis over the requisite service period for the entire award. As of March 31, 2022 and 2021, the total compensation expense not yet recognized related to all outstanding restricted stock awards was $1.1 million and $2.2 million, respectively.