v3.26.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense, Net of Forfeitures For the three and nine months ended September 30, 2026, and 2025, respectively, stock-based compensation expense, net of forfeitures, was recorded as follows ($ in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Equity-classified awards:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock

 

$

1,299

 

 

$

1,150

 

 

$

3,669

 

 

$

3,447

 

Market based RSUs

 

 

1,500

 

 

 

1,345

 

 

 

6,323

 

 

 

6,291

 

Performance based RSUs

 

 

529

 

 

 

456

 

 

 

2,136

 

 

 

2,052

 

Director grants

 

 

408

 

 

 

410

 

 

 

1,226

 

 

 

1,259

 

ESPP

 

 

17

 

 

 

22

 

 

 

90

 

 

 

75

 

Total equity-classified award expense, net of
   forfeitures

 

$

3,753

 

 

$

3,383

 

 

$

13,444

 

 

$

13,124

 

 

Schedule of Equity Classified Award Activity

The following table summarizes the grants of equity-classified awards made to employees by the Company during the nine months ended September 30, 2026, and 2025, respectively (in thousands):

 

 

Shares and Targeted Units
Granted in

 

 

2026

 

 

2025

 

Market-based RSUs

 

 

264

 

 

 

178

 

Performance-based RSUs

 

 

113

 

 

 

77

 

Restricted stock

 

 

262

 

 

 

179

 

 

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 the nine months ended September 30, 2026, and 2025:

 

 

 

 

 

Assumptions for RSUs
Granted in

 

 

 

 

 

2026

 

 

2025

 

Volatility

 

 

(1

)

 

 

29.7

%

 

 

31.3

%

Risk-free rate

 

 

(2

)

 

 

3.43

%

 

 

4.26

%

Stock beta

 

 

(3

)

 

 

0.83

%

 

 

0.88

%

 

(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.