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SHARE BASED COMPENSATION
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SHARE BASED COMPENSATION SHARE BASED COMPENSATION
The Company’s 2015 Omnibus Incentive Plan ("Omnibus Incentive Plan" or "Plan") was approved on May 6, 2015 and provides for the granting of incentive stock options, non-qualifying stock options, stock appreciation rights, restricted stock grants, restricted stock units and performance share units to selected directors and employees on a periodic basis at the discretion of the Company’s Board of Directors. The Omnibus Incentive Plan authorizes the issuance of up to 1,500,000 shares of common stock, has a term of 10 years, and is administered by a committee of at least three directors appointed by the Board of Directors. There were no shares available for issuance under the Plan at March 31, 2024. Options granted under the Plan have an exercise price which may not be less than 100% of the fair market value of the common stock on the date of the grant and must be exercised within seven or 10 years from the date of grant depending on the terms of the grant agreement. The exercise price of stock options must be paid for in full in cash or shares of common stock, or a combination of both. The board committee has the discretion when making a grant of stock options to impose restrictions on the shares to be purchased upon the exercise of such options. The Company generally issues authorized but previously unissued shares to satisfy option exercises.
 
Compensation expense is recognized on a straight-line basis over the vesting period of the respective stock option, restricted stock, restricted stock unit grant or performance share units. The Company recognized compensation expense of $1.2 million for both the three months ended March 31, 2024 and 2023, respectively, related to restricted stock award grants, restricted stock unit grants and performance share unit grants. There was no unrecognized compensation cost related to stock options as of March 31, 2024. The total of unrecognized compensation cost related to restricted stock awards, restricted stock unit grants, and performance share unit grants was approximately $11.1 million as of March 31, 2024. That cost is expected to be recognized over a weighted average period of approximately 2.46 years.

During the three months ended March 31, 2024, the Company granted 317,735 restricted stock units and performance share units, of which 83,691 units are subject to achievement of certain performance conditions measured over a three-year performance period and 234,044 restricted stock units are subject to a three year vesting schedule. The Company did not grant any stock options under the Omnibus Incentive Plan during the three months ended March 31, 2024.

A summary of the activity for the Company’s restricted stock, restricted stock units and performance share units for the period indicated is presented in the following table:
 Number
of
Common
Shares/Units		Weighted
Average
Grant-Date
Fair Value
Non-vested at January 1, 2024458,929 $32.90 
Granted317,735 $22.12 
Vested(46,420)$38.59 
Forfeited/ cancelled(2,772)$32.69 
Non-vested at March 31, 2024727,472 $28.04 

A summary of share option activity for the period indicated is reflected in the following table:
 Number
of
Common
Shares		Weighted
Average
Exercise
Share Price		Weighted
Average
Contractual
Remaining
Life (Years)		Aggregate
Intrinsic
Value
(in thousands)
Balance at January 1, 202480,195 $19.07 1.2 years$621 
Granted— $— 
Exercised(9,938)$10.96 $135 
Forfeited— $— 
Expired(6,163)$42.48 
Balance at March 31, 202464,094 $18.07 1.2 years$516 
Exercisable at March 31, 202464,094 $18.07 1.2 years$516