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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2020
Share-based Payment Arrangement [Abstract] |
Summary of Activity | The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:
|  | Three Months Ended March 31, |  |
Restricted Shares and Performance Based Shares |  | 2020 |  | 2019
Expected quarterly dividends per share |  | $ | 0.3075 |  |  | $ | 0.2900 |
Risk-free interest rate |  | 0.72 | % |  | 2.50 | %
Market-Based Shares |  |  |  |
Dividend yield |  | 2.51 | % |  | 2.59 | %
Expected volatility |  | 19.41 | % |  | 19.55 | %
Risk-free interest rate |  | 0.72 | % |  | 2.51 | %
The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options, for the three months ended March 31, 2020:
| Restricted Stock |  |  |  | Stock Options |  |
| Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Exercise Price
Outstanding at December 31, 2019 | 161,542 |  |  | $ | 38.21 |  |  | 2,000 |  |  | $ | 12.22 |
Granted | 217,913 |  |  | 36.88 |  |  | — |  |  | — |
Exercised | (225,925) |  |  | 34.28 |  |  | (2,000) |  |  | 12.22 |
Outstanding at March 31, 2020 | 153,530 |  |  | $ | 42.10 |  |  | — |  |  | $ | — |
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
|  | Three Months Ended March 31, |  |
Restricted Stock |  | 2020 |  | 2019
Weighted-average grant date fair value |  | $ | 36.88 |  |  | $ | 36.48 |
Total fair value of restricted shares that vested (in thousands) |  | $ | 11,269 |  |  | $ | 5,314 |
Stock Options |  |  |  |
Total intrinsic value of options exercised (in thousands) |  | $ | 84 |  |  | $ | 2,582 |

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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