Stock-Based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

A summary of restricted share activity for the three months ended March 31, 2024 is as follows:


	2024
	Time-Based
	Number of Shares	Weighted Average Grant Date Fair Value
	(In whole shares)
Outstanding - beginning of year	755,064	$	18.70
Granted	8,500	25.18
Vested	(10,178)	(26.72)

Canceled or expired	(5,435)	(17.04)
Outstanding - end of period	747,951	$	18.68

Stock-based compensation is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Income. Total stock-based compensation expense was $1.5 million and $1.6 million for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, there was $6.5 million of unrecognized compensation cost related to non-vested stock-based compensation, which cost is expected to be recognized over a weighted-average period of 1.8 years.