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Stock Incentive Plans
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock Incentive Plans Stock Incentive Plans
On April 22, 2021, Kforce’s shareholders approved the 2021 Stock Incentive Plan (the “2021 Plan”). The 2021 Plan allows for the issuance of stock options, stock appreciation rights (“SAR”), stock awards (including restricted stock awards (“RSAs”) and restricted stock units (“RSUs”)) and other stock-based awards. The aggregate number of shares reserved under the 2021 Plan is approximately 3.9 million. Grants of an option or SAR reduce the reserve by one share, while a stock award reduces the reserve by 2.72 shares. The 2021 Plan terminates on April 22, 2031.
Restricted stock (including RSAs and RSUs) is granted to directors, executives and management either for awards related to Kforce’s annual long-term incentive program or as part of a compensation package for attraction and retention purposes. Restricted stock granted during the nine months ended September 30, 2022 will vest over a period of one to ten years, with vesting occurring in equal annual installments.
During the three and nine months ended September 30, 2022, stock-based compensation expense was $4.5 million and $13.3 million, respectively. During the three and nine months ended September 30, 2021, stock-based compensation expense was $3.5 million and $10.5 million, respectively, and is included in Selling, general and administrative expenses.
The following table presents the restricted stock activity for the nine months ended September 30, 2022 (in thousands, except per share amounts):
Number of 
Restricted Stock		Weighted-Average
Grant Date
Fair Value		Total Intrinsic
Value of Restricted
Stock Vested
Outstanding at December 31, 20211,083 $48.86 
Granted42 $61.38 
Forfeited(33)$51.24 
Vested(43)$45.69 $2,831 
Outstanding at September 30, 20221,049 $49.65 
As of September 30, 2022, total unrecognized stock-based compensation expense related to restricted stock was $37.2 million, which will be recognized over a weighted-average remaining period of 4.3 years