Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of RSUs and PSUs to be Settled in Common Stock Activity

A summary of the activity for RSUs to be settled in common stock for the nine months ended September 30, 2022 and 2021 is as follows (RSUs in thousands):


	2022		2021
	RSUs	Weighted Average Grant Date Fair Value (Per Unit)	RSUs	Weighted Average Grant Date Fair Value (Per Unit)
Unvested at January 1	3,880	$61.64	3,869	$37.57
Granted	817	$111.20	945	$82.75
Vested	(1,257)	$48.48	(1,442)	$36.92
Forfeited	(116)	$78.72	(119)	$47.23
Unvested at September 30	3,324	$78.39	3,253	$50.71

A summary of the activity for PSUs to be settled in common stock for the nine months ended September 30, 2022 and 2021 is as follows (PSUs in thousands):


	2022		2021
	PSUs	Weighted Average Grant Date Fair Value (Per Unit)	PSUs	Weighted Average Grant Date Fair Value (Per Unit)
Unvested at January 1	931	$47.27	1,047	$37.65
Granted	153	$119.74	174	$90.44
Vested	(334)	$40.15	(268)	$38.28
Forfeited	(17)	$58.79	(11)	$36.90
Unvested at September 30	733	$65.39	942	$47.27

Grant Date Fair Value for Awards of Performance Units Inputs

The Monte Carlo simulation valuation methodology applied the following key inputs:


	2022		2021
Valuation date price based on March 2, 2022 and March 25, 2021 closing stock prices of Quanta common stock	$110.24		$83.48
Expected volatility	39	%	36	%
Risk-free interest rate	1.64	%	0.26	%
Term in years	2.83		2.77