Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.23.3
Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options

The following table summarizes share activity related to stock options:

 

 

 

Stock Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Fair Value

 

 

Remaining Average Contractual Term (Years)

 

 

Aggregate Intrinsic Value

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Options Outstanding, December 31, 2022

 

 

897

 

 

$

9.24

 

 

 

 

 

 

9.0

 

 

$

77

 

Granted

 

 

409

 

 

 

8.58

 

 

 

3.27

 

 

 

 

 

 

 

Options Outstanding, September 30, 2023

 

 

1,306

 

 

$

9.03

 

 

 

 

 

 

8.6

 

 

$

 

Summary of Assumptions Utilized in Valuation of Stock Option Awards The following table summarizes the assumptions utilized in the valuation of the stock option awards granted in the nine months ended September 30, 2023:

 

Expected dividend rate

 

 

1.4

%

Expected stock price volatility

 

 

28.8

%

Risk-free interest rate

 

 

4.0

%

Expected term of options (years)

 

 

10.0

 

Schedule of Restricted Stock Units Activity

The following table summarizes share activity related to RSUs:

 

 

 

Restricted Stock Units

 

 

Weighted Average Grant Date Fair Value

 

 

 

(in thousands)

 

 

 

 

Nonvested RSUs, December 31, 2022

 

 

3,115

 

 

$

8.90

 

Granted

 

 

1,750

 

 

 

8.39

 

Released

 

 

(630

)

 

 

8.97

 

Forfeited

 

 

(37

)

 

 

9.22

 

Performance-based share adjustment

 

 

144

 

 

 

8.13

 

Nonvested RSUs, September 30, 2023

 

 

4,342

 

 

$

8.66