Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock-Based Compensation Expense

The following table summarizes the Company’s stock-based compensation grants for the six months ended June 30, 2026:


	Stock Awards Granted		Weighted- Average Grant Price Per Share
Time-based restricted stock units		127,124	$	40.73
Performance-based restricted stock units (a)		104,560	$	44.34

(a)

Includes 84,878 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2026, and adjustments of 19,682 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2023.

Summary of Assumptions Used to Estimate Fair Value of Each SAR

The fair value of each SAR is estimated on the date of grant using a Black-Scholes option-pricing formula. No SARs were issued in the six months ended June 30, 2026. For SARs issued in the six months ended June 30, 2025, the data and assumptions shown in the following table were used:


	Six Months Ended June 30, 2025
Weighted-average fair value of grants	$	33.06
Dividend yield		0	%
Average risk-free interest rate		4.3	%
Expected term (years)		5
Expected volatility		51.4	%

Summary of Stock-Based Compensation Grants

The following table summarizes the Company’s stock-based compensation expense (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Stock appreciation rights	$	213	$	330	$	485	$	624
Time-based restricted stock and restricted stock units		1,523		1,578		2,954		2,404
Performance-based restricted stock and restricted stock units		899		967		1,774		2,106
Employee stock purchase plan		205		59		261		113
Total stock-based compensation	$	2,840	$	2,934	$	5,474	$	5,247