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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense, Net of Forfeitures For the three months ended March 31, 2024 and 2023, stock-based compensation expense, net of forfeitures, was recorded as follows ($ in thousands):
Three Months Ended March 31,
20242023
Equity-classified awards:
Restricted stock$971 $858 
Market-based RSUs2,342 1,751 
Performance-based RSUs573 480 
Director grants408 385 
Employee Stock Purchase Plan24 37 
Total equity-classified award expense, net of forfeitures4,318 3,511 
Liability-classified awards
Time-vested RSUs— 61 
Total liability-classified award expense, net of forfeitures— 61 
Total stock-based compensation expense, net of forfeitures$4,318 $3,572 
Schedule of Equity and Liability Classified Award Activity
The following table summarizes the grants of equity-classified awards made by the Company in the first quarter of 2024 and 2023:
Shares and Targeted Units Granted in
20242023
Market-based RSUs205,129 164,430 
Performance-based RSUs87,912 70,472 
Restricted stock203,158 164,221 
Schedule of Valuation Assumptions
The Monte Carlo valuation used to determine the grant date fair value of the equity-classified Market-based RSUs included the following assumptions for those RSUs granted in the first quarter of 2024 and 2023:
Assumptions for RSUs Granted in
20242023
Volatility(1)30.5 %40.5 %
Risk-free rate(2)4.43 %4.35 %
Stock beta(3)0.96 %1.03 %
(1) Based on historical volatility over three years using daily stock price.
(2) Reflects the yield on three-year Treasury bonds.
(3) Betas are calculated with up to three years of daily stock price data.