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STOCK-BASED COMPENSATION AND EQUITY (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Total Stock-Based Compensation Expense

The following table details total stock-based compensation expense for the three and nine months ended September 30, 2022 and 2021, included in the condensed consolidated statements of income:

			Three Months Ended September 30,												Nine Months Ended September 30,
(In thousands)			2022						2021						2022						2021
Costs of sales			$	274					$	311					$	851					$	793
Operating expenses			1,590						1,389						4,433						3,386
Pre-tax stock-based compensation expense			1,864						1,700						5,284						4,179
Less: income tax effect			(410)						(374)						(1,162)						(919)
Net stock-based compensation expense			$	1,454					$	1,326					$	4,122					$	3,260

Summary of Restricted Stock Activity

A summary of restricted stock activity under the Plan during the nine months ended September 30, 2022 and 2021 is as follows:

			Nine Months Ended September 30, 2022												Nine Months Ended September 30, 2021
			Shares						Weighted-Average Grant Date Fair Value Per Share						Shares						Weighted-Average Grant Date Fair Value Per Share
Unvested restricted stock outstanding at beginning of period			314,883						$	29.79					412,967						$	28.87
Granted			161,375						34.22						153,700						31.22
Vested			(181,405)						29.79						(245,455)						29.16
Forfeited			(8,936)						31.60						(6,329)						29.10
Unvested restricted stock outstanding at end of period			285,917						$	32.23					314,883						$	29.79

Summary of Performance Share Award Activity

A summary of performance share award activity under the Plan during the nine months ended September 30, 2022 and 2021 is as follows, based on the target award amounts set forth in the performance share award agreements:

			Nine Months Ended September 30, 2022												Nine Months Ended September 30, 2021
			Shares						Weighted-Average Grant Date Fair Value Per Share						Shares						Weighted-Average Grant Date Fair Value Per Share
Performance share awards outstanding at beginning of period			249,952						$	29.59					252,852						$	29.27
Granted			101,799						37.98						93,444						31.26
Forfeited or unearned			(45,060)						31.70						(20,373)						29.92
Earned and issued			(27,317)						31.75						(75,971)						30.50
Performance share awards outstanding at end of period			279,374						$	32.09					249,952						$	29.59

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- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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