v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense, Net of Forfeitures For the three and six months ended June 30, 2025 and 2024, stock-based compensation expense, net of forfeitures, was recorded as follows ($ in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Equity-classified awards:
Restricted stock$1,167 $1,070 $2,297 $2,041 
Market-based RSUs1,487 1,510 4,946 3,852 
Performance-based RSUs609 460 1,596 1,033 
Director grants458 397 849 805 
Employee Stock Purchase Plan26 24 53 48 
Total equity-classified award expense, net of forfeitures$3,747 $3,461 $9,741 $7,779 
Schedule of Equity Classified Award Activity
The following table summarizes the grants of equity-classified awards made to employees by the Company during the six months ended June 30, 2025 and 2024, respectively, (in thousands):
Shares and Targeted Units Granted in
20252024
Market-based RSUs178 206 
Performance-based RSUs77 88 
Restricted stock179 204 
Schedule of Share-Based Payment Award, Stock Options, 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 during six months ended June 30, 2025 and 2024:
Assumptions for RSUs Granted in
2025
2024
Volatility(1)31.3 %30.5 %
Risk-free rate(2)4.26 %4.43 %
Stock beta(3)0.88 %0.96 %
(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.