v3.25.1
EQUITY-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Awards
The following table summarizes time-based restricted stock award activity under our Equity Plan:

 
 Number
 of Shares		Weighted-Average
Grant Date 
Fair Value		Aggregate
Current Value
  (per share)(in thousands)
Non-vested at December 31, 20241,152,823 $7.28 $7,897 
Granted677,410 6.63 
Vested(398,973)8.15 
Forfeited(391)6.63 
Non-vested at March 31, 20251,430,869 $6.73 $7,741 
The following table summarizes performance-based restricted stock activity under the Equity Plan: 
 Number 
of Shares
Weighted-Average
Grant Date 
Fair Value (1)
Aggregate
Current Value
  (per share)(in thousands)
Non-vested at December 31, 20241,239,748 $9.53 $8,492 
Granted576,475 7.66 
Vested(154,397)12.26 
Forfeited(152,038)12.26 
Non-vested at March 31, 20251,509,788 $8.26 $8,168 

(1)    The amounts included in this column represent the expected future value of the performance-based restricted stock awards calculated using the Monte Carlo simulation valuation model.
Schedule of Equity-based Compensation Expense
Equity-based compensation expense included in Corporate general and administrative expenses on the Condensed Consolidated Statements of Operations is as follows (in thousands): 
Three Months Ended
March 31,
20252024
Time-based restricted stock$928 $870 
Performance-based restricted stock988 978 
$1,916 $1,848 
Schedule of Unrecognized Equity-based Compensation Expense for all Non-vested Awards
Unrecognized equity-based compensation expense for all non-vested awards pursuant to our Equity Plan was $16.5 million at March 31, 2025 and will be recorded as follows (in thousands):
 Total2025202620272028
Time-based restricted stock$8,422 $3,050 $3,206 $1,904 $262 
Performance-based restricted stock8,077 3,125 2,982 1,697 273 
 $16,499 $6,175 $6,188 $3,601 $535