Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Stock Option Activity

Activity with respect to stock options is summarized as follows:

	Shares			Weighted-Average Exercise Price		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
Options outstanding, January 1, 2024		766,829		$	14.10		6.3	$	1,148
Granted		-		$	-
Exercised		(133,891	)	$	6.68
Forfeited		(6,389	)	$	6.34
Expired		(3,600	)	$	5.18
Options outstanding, September 30, 2024		622,949		$	15.82		6.0		15,036
Nonvested options, September 30, 2024		366,597		$	22.77		6.4		6,303
Vested and exercisable, September 30, 2024		256,352		$	5.90		5.4		8,732

Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the RSUs that contain service and market conditions on the grant date:

Remaining term	5.0 years
Risk-free interest rate		3.5	%
Expected volatility		79.7	%

Performance-Based Restricted Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Restricted Stock Activity

Activity with respect to Performance-Based RSUs is summarized as follows:

	Shares			Weighted-Average Grant-Date Fair Value
Outstanding shares at January 1, 2024		-		$	-
Granted		516,316		$	34.14
Vested		-		$	-
Forfeited		(15,188	)	$	33.90
Outstanding shares at September 30, 2024		501,128		$	34.14

October 2023 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the RSUs granted during October 2023 that contain service and market conditions on the grant date:

Remaining term	4.2 years
Risk-free interest rate		4.9	%
Expected volatility		87.6	%

June 2024 [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the RSUs modified during the quarter ended June 30, 2024:

Remaining term	3.7 years
Risk-free interest rate		4.7	%
Expected volatility		71.7	%

Chief Executive Officer [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the options granted to the Chief Executive Officer on the grant date:

Remaining term	10.0 years
Risk-free interest rate		1.5	%
Expected dividend yield		0.0	%
Expected volatility		40.0	%

Summary of Restricted Stock Activity

Activity with respect to RSUs is summarized as follows:

	Shares			Weighted-Average Grant-Date Fair Value
Outstanding shares at January 1, 2024		1,726,639		$	23.10
Granted		501,062		$	32.48
Vested		(424,711	)	$	34.14
Forfeited		(518,737	)	$	11.44
Outstanding shares at September 30, 2024		1,284,253		$	29.73