v3.26.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Activity
Restricted Stock
Restricted shares granted to Company employees are amortized to expense over a three-year cliff vesting period, or until vesting occurs upon retirement. Restricted shares granted to members of the Board of Directors are amortized to expense over a one-year service period, with the exception of those shares granted in lieu of cash payments for retainer fees which are expensed in the period earned.
As of March 31, 2026, the total unrecognized compensation expense related to non-vested restricted shares was $2.1 million, and the related weighted-average period over which it is expected to be recognized is approximately 1.43 years.
Following is a summary of the activity of the Company's restricted stock for the three months ended March 31, 2026, with total shares and weighted-average fair value:
Three Months Ended
March 31, 2026
SharesFair Value
Balance at December 31, 2025
273,543 $42.88 
Granted 33,583 43.56 
Vested (31,348)48.89 
Forfeitures(356)44.29 
Balance at March 31, 2026
275,422 $42.28 
Schedule of Performance Shares Activity
Following is a summary of the activity of the PBRS for the three months ended March 31, 2026, based on 100% of target value:
Three Months Ended
March 31, 2026
SharesFair Value
Balance at December 31, 2025
151,780 $44.52 
Granted 45,557 43.58 
Vested (45,864)48.89 
Forfeitures(1,851)42.28 
Balance at March 31, 2026
149,622 $42.92