Stock-Based Compensation

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

7. Stock-Based Compensation

A summary of the Company’s RSU activity during the three months ended March 31, 2023 is as follows:

	Number of Shares
Unvested Outstanding at January 1, 2023		1,647,544
Granted (1)		495,225
Forfeited		(6,266	)
Vested		(219,272	)
Unvested Outstanding at March 31, 2023		1,917,231

⁽¹⁾ The amount shown as granted in the table includes 219,213 performance-based target RSUs as to which the number that ultimately vests would range from 0% to 200% of the target amount of RSUs (a maximum of 438,426 RSUs based on attainment of Adjusted EBITDA targets for 2023).

The Company issued a total of 353,554 shares during the three months ended March 31, 2023 which included an aggregate of 332,227 shares issued in connection with the net settlement of RSUs that vested during the prior year (on December 30, 2022).