Long-term Incentive Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Compensation Related Costs [Abstract]

Summary of assumptions fair value of options granted

The Company uses estimates of forfeitures to estimate the expected term of the units grants. The reversal of any expense due to forfeitures is accounted for as they occur.

	2023
Risk-free interest rate		3.9	%
Expected volatility		58.0	%
Expected term	2.76 years

Summary of stock option activity

The following table summarizes stock option activity for the three months ended March 31, 2023 and provides information for outstanding and exercisable options as of March 31, 2023:

	Number of Options		Weighted Average Exercise Price
			(per share)
Outstanding at January 1, 2023		323,023	$	24.00
Granted		—		—
Exercised		—		—
Forfeited or expired		—		—
Outstanding at March 31, 2023		323,023	$	24.00
Exercisable at March 31, 2023		—	$	—

Summary of restricted stock activity

The following table summarizes restricted stock unit activity for the three months ended March 31, 2023 and provides information for unvested shares as of March 31, 2023:

	Number of Shares		Weighted Average Fair Value
			(per share)
Unvested at January 1, 2023		37,754	$	23.61
Granted		262,340		21.62
Vested		—		—
Forfeited		—		—
Unvested at March 31, 2023		300,094	$	21.87

Summary performance unit activity

The following table summarizes performance unit activity for the three months ended March 31, 2023 and provides information for unvested performance units (reflected at target performance) as of March 31, 2023:

	Number of Units		Weighted Average Fair Value
			(per unit)
Unvested at January 1, 2023		—	$	—
Granted		84,719		27.85
Vested		—		—
Forfeited		—		—
Unvested at March 31, 2023		84,719	$	27.85