7. Share-based Compensation Time Restricted stock units (“TRSUs”) Changes in the TRSUs for the nine months ended September 30, 2026 are set forth below: | | | | | | | | | | Weighted average | | | Number of | | fair value at grant | | | TRSUs | | date | Balance as of January 1, 2026 | | 206,495 | | $ | 16.17 | TRSUs granted during the nine months ended September 30, 2026 | | 145,690 | | $ | 16.74 | TRSUs vested during the nine months ended September 30, 2026 | | (114,776) | | $ | (13.78) | Balance as of September 30, 2026 (none of which are vested) | | 237,409 | | $ | 14.45 |
7. Share-based Compensation (continued) The total cost related to non-vested TRSU awards expected to be recognized through 2029 is set forth below in thousands of U.S. Dollars: | | | | Period | | | TOTAL | 2026(1) | | $ | 447 | 2027 | | | 1,227 | 2028 | | | 704 | 2029 | | | 109 | | | $ | 2,487 |
| (1) | Three-month period ending December 31, 2026 |
Performance-Based Restricted stock units (“PRSUs”) Changes in the PRSUs for the nine months ended September 30, 2026 are set forth below: | | | | | No. of PRSUs | Balance as of January 1, 2026 | | 138,144 | PRSUs granted during the nine months ended September 30, 2026 | | 49,241 | PRSUs vested during the nine months ended September 30, 2026 | | — | Balance as of September 30, 2026 (none of which are vested) | | 187,385 |
The total cost related to non-vested PRSU awards expected to be recognized through 2029 is set forth below in thousands of U.S. Dollars: | | | | Period | | | TOTAL | 2026(1) | | $ | 181 | 2027 | | | 571 | 2028 | | | 388 | 2029 | | | 60 | | | $ | 1,200 |
| (1) | Three-month period ending December 31, 2026 |
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