Under the Company’s long-term incentive program, certain officers, employees and directors are eligible to receive equity-based awards under the 2018 Long-Term Incentive Plan (the “LTIP”). Restricted stock awards (“RSAs”) granted under the LTIP generally vest over one to five years. Unvested RSAs are included in the Company’s common stock outstanding. Compensation expense for RSAs granted under the LTIP is recognized over the vesting period of the awards based on the fair value of the stock at the grant date, with forfeitures recognized as they occur.

Stock based compensation that has been charged against income was $1.3 million for the three months ended March 31, 2026 and $1.3 million for the same period of 2025. As of March 31, 2026, there was $7.5 million of total unrecognized compensation cost related to unvested RSAs. The cost is expected to be recognized over a remaining weighted average period of 2.5 years.

A summary of the Company’s equity-based award activity and related information for the Company’s RSAs is as follows:


	Three Months Ended
	March 31, 2026					March 31, 2025
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
Beginning of period		201,410		$	63.13		217,516	$	61.46
Granted		568			70.50		—		—
Vested		(458	)		65.50		—		—
Forfeited		(381	)		64.12		—		—
End of period		201,139		$	63.14		217,516	$	61.46