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STOCK-BASED COMPENSATION AND EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Total Stock-Based Compensation Expense

The following table details total stock-based compensation expense for the three months ended March 31, 2023 and 2022, included in the condensed consolidated statements of income:

			Three Months Ended March 31,
(In thousands)			2023						2022
Costs of sales			$	181					$	267
Operating expenses			1,066						1,450
Pre-tax stock-based compensation expense			1,247						1,717
Less: income tax effect			(274)						(378)
Net stock-based compensation expense			$	973					$	1,339

Summary of Restricted Stock Activity

A summary of restricted stock activity under the Plan during the three months ended March 31, 2023 and 2022 is as follows:

			Three Months Ended March 31, 2023												Three Months Ended March 31, 2022
			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			281,161						$	32.24					314,883						$	29.79
Granted			185,487						29.23						144,064						34.44
Vested			(133,298)						31.33						(174,943)						29.75
Unvested restricted stock outstanding at end of period			333,350						$	30.93					284,004						$	32.17

Summary of Performance Share Award Activity

A summary of performance share award activity under the Plan during the three months ended March 31, 2023 and 2022 is as follows, based on the target award amounts set forth in the performance share award agreements:

			Three Months Ended March 31, 2023												Three Months Ended March 31, 2022
			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			252,375						$	31.84					249,952						$	29.59
Granted			123,406						31.21						101,799						37.98
Forfeited or unearned			(96,069)						26.96						(25,948)						31.75
Earned and issued			—						—						(27,317)						31.75
Performance share awards outstanding at end of period			279,712						$	33.24					298,486						$	32.06

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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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