Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Valuation Assumptions The Company used a Monte Carlo simulation to estimate the $12.28 weighted average fair value of the awards granted during the nine months ended September 30, 2023, with the following weighted average assumptions:
Expected dividend yield —  %
Risk-free interest rate 3.80  %
Expected volatility 48.82  %
Expected term (in years) 2.96
Activity of Restricted Stock Units
The following table summarizes the activity for the Company’s restricted stock units and performance stock units for the nine months ended September 30, 2023:
Restricted Stock Units Performance Stock Units
Number of
units		 Weighted average grant date fair value (per share) Number of
units		 Weighted average grant date fair value (per share)
Nonvested as of December 31, 2022 2,464,718  $ 11.73  639,532  (1) $ 16.32 
Granted 1,195,835  $ 9.84  721,537  $ 12.28 
Vested (1,436,301) $ 11.84  (200,204) $ 20.48 
Forfeited (195,334) $ 11.37  (183,864) $ 19.50 
Nonvested as of September 30, 2023 2,028,918  $ 10.57  977,001  (1) $ 11.88 
(1)Based on target.
Activity of Performance Stock Units
The following table summarizes the activity for the Company’s restricted stock units and performance stock units for the nine months ended September 30, 2023:
Restricted Stock Units Performance Stock Units
Number of
units		 Weighted average grant date fair value (per share) Number of
units		 Weighted average grant date fair value (per share)
Nonvested as of December 31, 2022 2,464,718  $ 11.73  639,532  (1) $ 16.32 
Granted 1,195,835  $ 9.84  721,537  $ 12.28 
Vested (1,436,301) $ 11.84  (200,204) $ 20.48 
Forfeited (195,334) $ 11.37  (183,864) $ 19.50 
Nonvested as of September 30, 2023 2,028,918  $ 10.57  977,001  (1) $ 11.88 
(1)Based on target.