13. Stock-Based Compensation

The following table sets forth information about the Company's restricted stock units and stock awards.

(in thousands, except for weighted average amounts)Number of Restricted Stock Units and Stock AwardsWeighted
Average
Grant Date Fair Value
Outstanding on January 1, 20235,373 $6.00 
Granted3,992 2.98 
Vested(2,001)5.87 
Cancelled/forfeited(961)5.90 
Outstanding on December 31, 20236,403 4.17 
Granted2,290 6.36 
Vested(1,892)4.88 
Cancelled/forfeited(443)3.93 
Outstanding on December 31, 20246,358 4.76 
Granted3,390 5.86 
Vested(3,478)4.96 
Cancelled/forfeited(2,045)4.91 
Outstanding on December 31, 20254,225 5.41 

As of December 31, 2025, there was $11.9 million of total unrecognized compensation cost related to outstanding, unvested share-based compensation. That cost is expected to be recognized over a weighted average period of 2.1 years and is based on grant date fair value.

As of December 31, 2025 and 2024, the Company's outstanding shares included 28,929 and 27,972 unvested restricted shares, respectively.

During 2025, grants of restricted stock units and stock awards under the Company's 2024 Omnibus Incentive Plan were as follows.

(in thousands, except for weighted average amounts)Restricted Stock Unit and Stock Award GrantsWeighted Average Grant Date Fair ValueTotal Grant Date Fair Value
Three months ended March 31, 20252,806 $5.12 $14,366 
Three months ended June 30, 2025175 $6.29 $1,100 
Three months ended September 30, 202513 $7.75 $100 
Three months ended December 31, 2025396 $10.86 $4,304 

Historical Timeline

Fiscal YearFiled
2025Feb 19, 2026Showing above
2024Feb 19, 2025
2023Feb 21, 2024
2021Feb 15, 2022
2019Feb 19, 2020

About Stock Compensation Disclosures

Stock-based compensation disclosures detail the equity awards granted to employees and executives — including stock options, restricted stock units (RSUs), and performance shares — along with the valuation methods and assumptions used to expense them. This section reveals the true cost of talent retention and the alignment between management incentives and shareholder interests.

Key signals: total unrecognized compensation expense and its expected recognition period signal future earnings headwinds from already-granted awards. For stock options, examine Black-Scholes assumptions — expected volatility, risk-free rate, and expected term — as understating any of these reduces reported compensation expense. Compare stock compensation expense as a percentage of revenue against peers to assess dilution cost. Watch vesting schedules for acceleration clauses tied to change-of-control events. Performance-based awards with undemanding targets may indicate weak governance. Add back stock compensation to operating cash flow to calculate a more conservative free cash flow figure.