v3.25.2
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Equity Awards
The following table sets forth the Company’s equity awards, target payout ranges and authorized target restricted stock and stock units for the years ended December 31, 2024, 2023 and 2022:
Award Payout RangeRequisite
Service Period
Target
Stock and Stock Units
Year ended December 31, 2024
Market condition awards
0%–150%
3 years32,058
Performance condition awards
0%–150%
3 years76,881
Service condition awardsN/A
1–4 years
124,025
232,964
Year ended December 31, 2023
Market condition awards
0%–150%
3 years37,622
Performance condition awards
0%–150%
3 years95,456
Service condition awardsN/A
1–4 years
968,778
Stock optionsN/A
3–4 years
759,990
1,861,846
Year ended December 31, 2022
Market condition awards
0%–150%
3 years28,495
Performance condition awards
0%–150%
3 years26,210
Service condition awardsN/A
1–3 years
144,137
198,842
The following tables sets forth option activity for the years ended December 31, 2024 and 2023:
Weighted-Average
Exercise Price
Stock
Outstanding at January 1, 2024759,990 
Outstanding at December 31, 2024759,990 
Weighted-Average
Exercise Price
Stock
Outstanding at January 1, 2023
Granted$15.00 759,990
Outstanding at December 31, 2023759,990
Schedule of Nonvested Share Activity
The following table sets forth the Company’s restricted stock and restricted stock units activity for the years ended December 31, 2024, 2023 and 2022:
Weighted-Average
Grant-Date
Fair Value
Stock and Stock Units
Non-vested at January 1, 2024$15.13 1,445,449 
Granted(1)
31.72 268,631 
Vested13.16 (285,957)
Forfeited(2)
18.27 (102,640)
Non-vested at December 31, 2024$19.06 1,325,483 
Non-vested at January 1, 2023$12.55 419,896 
Granted(1)
16.07 1,101,856 
Vested13.39 (40,645)
Forfeited(2)
15.29 (35,658)
Non-vested at December 31, 2023$15.13 1,445,449 
Non-vested at January 1, 2022$13.23 375,643 
Granted(1)
14.17 198,842 
Vested15.16 (144,042)
Forfeited(2)
12.51 (10,547)
Non-vested at December 31, 2022$12.55 419,896 
(1) Increases above the 100% target level are reflected as granted in the period after which performance-based stock unit goals are achieved.
(2) Decreases below the 100% target level are reflected as forfeited.