Stock-Based Compensation |
9 Months Ended | ||||||
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Sep. 30, 2024 | |||||||
| Share-Based Payment Arrangement [Abstract] | |||||||
| Stock-Based Compensation |
The Company's Stock Incentive Plan allows for grants of incentive stock options, non-statutory stock options, restricted stock awards, restricted stock units, and other stock-based or cash-based awards. The Company uses original issuance shares to satisfy share-based payments.
STOCK-BASED COMPENSATION EXPENSE
Stock-based compensation expense consisted of the following:
STOCK OPTIONS
During the nine months ended September 30, 2024, the Company granted a total of 156,277 stock options at a weighted average grant date fair value of $20.86 per option. As of September 30, 2024, unrecognized costs related to outstanding stock options totaled $10.4 million, before any related tax benefit. These unrecognized costs related to stock options are expected to be recognized over a weighted average remaining period of 2.14 years.
RESTRICTED STOCK UNITS
During the nine months ended September 30, 2024, the Company granted 426,499 restricted stock units at a weighted average grant date fair value of $78.82 per restricted stock unit. As of September 30, 2024, unrecognized costs related to outstanding restricted stock units totaled $38.2 million, before any related tax benefit. These unrecognized costs related to restricted stock units are expected to be recognized over a weighted average remaining period of 2.60 years.
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