EQUITY COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Compensation Expense Information Based on Fair Value of Stock Options and RSUs |
The following table provides compensation expense information based on the fair value of stock options and RSUs for the years ended December 31 as follows:
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| (In thousands) |
2025 |
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2024 |
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2023 |
| Equity-based Compensation Expense |
$ |
6,799 |
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$ |
8,570 |
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$ |
7,198 |
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| Tax Benefit |
(1,221) |
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|
(1,564) |
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(1,259) |
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| Equity-based Compensation Expense, Net of Tax |
$ |
5,578 |
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$ |
7,006 |
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$ |
5,939 |
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| Schedule of Weighted Average Fair Value of Options Granted |
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2025 |
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2024 |
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2023 |
| Weighted Average Fair Value of the Options Granted |
$ |
31.97 |
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$ |
10.55 |
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$ |
8.39 |
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| Schedule of Weighted-Average Assumptions |
The weighted average fair value for these options was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
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2025 |
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2024 |
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2023 |
| Risk-free Interest Rate |
3.72% |
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4.13% |
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4.20% - 4.33% |
| Dividend Yield |
—% |
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—% |
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—% |
| Volatility Factor |
0.65 |
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0.61 |
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0.58 |
| Expected Life in Years |
6 years |
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7 years |
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3 - 7 years |
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| Schedule of Company's Stock Option Activity and Related Information |
A summary of the Company’s stock option activity and related information for the year ended December 31 is as follows:
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2025 |
| (Aggregate intrinsic value in thousands) |
Options |
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Weighted
Average
Exercise
Price
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Aggregate
Intrinsic
Value
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| Outstanding at January 1 |
1,421,493 |
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|
$ |
18.77 |
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$ |
50,420 |
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| Options Granted |
29,750 |
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$ |
51.72 |
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| Options Exercised |
(111,964) |
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$ |
22.22 |
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| Options Forfeited / Expired |
(39,575) |
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$ |
21.90 |
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| Outstanding at December 31 |
1,299,704 |
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$ |
19.13 |
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$ |
45,630 |
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| Exercisable at December 31 |
1,141,706 |
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$ |
18.69 |
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$ |
40,588 |
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| Schedule of Weighted Average Exercise Prices and Contractual Lives for Outstanding and Exercisable Stock Options |
The following is a summary of weighted average exercise prices and contractual lives for outstanding and exercisable stock options as of December 31, 2025:
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Outstanding |
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Exercisable |
| Exercise Price Range |
Shares |
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Weighted Average
Remaining Life
in Years
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Weighted
Average
Exercise Price
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Shares |
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Weighted Average
Remaining Life
in Years
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Weighted
Average
Exercise Price
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$9.74 – $16.55 |
879,583 |
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6.6 |
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$ |
12.46 |
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751,336 |
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6.4 |
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$ |
11.94 |
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$22.93 – $35.61 |
390,371 |
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2.7 |
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$ |
31.68 |
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390,370 |
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2.7 |
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$ |
31.68 |
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$45.89 – $51.72 |
29,750 |
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9.9 |
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$ |
51.72 |
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— |
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0.0 |
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$ |
— |
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1,299,704 |
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5.5 |
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$ |
19.13 |
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1,141,706 |
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5.1 |
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$ |
18.69 |
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| Schedule of RSU Activity |
A summary of the Company’s RSU activity and related information for the year ended December 31 is as follows:
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2025 |
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RSU Shares |
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Weighted
Average
Grant Date Fair Value
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| Unvested at January 1 |
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694,624 |
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$ |
12.39 |
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| Granted |
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259,375 |
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$ |
19.82 |
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| Vested |
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(262,965) |
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$ |
14.76 |
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| Forfeited |
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(27,575) |
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$ |
14.84 |
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| Unvested at December 31 |
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663,459 |
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$ |
17.88 |
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| Schedule of Fair Value for Options Granted under Employee Stock Purchase Plan |
The fair value for the options granted under the Employee Stock Purchase Plan was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
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2025 |
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2024 |
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2023 |
| Risk-free Interest Rate |
3.62 |
% |
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3.96 |
% |
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5.49 |
% |
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| Dividend Yield |
— |
% |
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— |
% |
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— |
% |
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| Volatility Factor |
0.49 |
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|
0.41 |
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|
0.56 |
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| Expected Life in Years |
1.0 |
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1.0 |
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1.0 |
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