Share-based compensation (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Restricted Share Awards

A summary of our restricted share awards from January 1, 2021 to June 30, 2021 is as follows:

	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested balance at January 1, 2021	2,225,139	$	8.53
Granted	1,925,298	5.45
Vested	(897,793)	8.61
Forfeited	(7,956)	8.66
Unvested balance at June 30, 2021	3,244,688	$	6.68

Summary of Key Inputs Used in Monte-Carlo Simulation

The table below summarizes the key inputs used in the Monte-Carlo simulation to determine the grant date fair value of our performance share awards ($ in thousands):

Performance Award Grant Date	Percentage of Total Award		Grant Date Fair Value by Component		Volatility (1)		Interest Rate (2)		Dividend Yield
January 4, 2021
Peer Shareholder Return	50	%	$	3,088	57.69	%	0.16	%	—	%
Growth Rate	50	%	$	2,230	57.69	%	0.16	%	—	%

________

(1) Expected volatility was determined based on the historical share prices in our industry.

(2) The risk-free rate was based on U.S. Treasury zero coupon issues with a remaining term equal to the remaining term of the measurement period.

Summary of Performance Share Awards

A summary of our performance share awards from January 1, 2021 to June 30, 2021 is as follows:

	Number of Shares	Weighted-Average Grant Date Fair Value
Unvested balance at January 1, 2021	—	$	—
Granted	1,027,519	5.18
Unvested balance at June 30, 2021	1,027,519	$	5.18