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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2021
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:
|  | Six Months Ended June 30,
Restricted Shares and Performance Based Shares |  | 2021 |  | 2020
Expected quarterly dividends per share |  | $ | 0.3275 |  |  | $ | 0.3075 |
Risk-free interest rate |  | 0.32 | % |  | 0.72 | %
Market-Based Shares |  |  |  |
Dividend yield |  | 2.76 | % |  | 2.51 | %
Expected volatility |  | 33.69 | % |  | 19.41 | %
Risk-free interest rate |  | 0.29 | % |  | 0.72 | %
The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the six months ended June 30, 2021:
| Restricted Stock |  |
| Shares |  | Weighted- Average Grant Date Fair Value |  |  |  |
Outstanding at December 31, 2020 | 168,061 |  |  | $ | 40.77 |  |  |  |  |
Granted | 213,515 |  |  | 44.08 |  |  |  |  |
Exercised | (207,913) |  |  | 39.78 |  |  |  |  |
Forfeited | (1,741) |  |  | 43.72 |  |  |  |  |
Outstanding at June 30, 2021 | 171,922 |  |  | $ | 43.72 |  |  |  |  |
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
|  | Six Months Ended June 30,
Restricted Stock |  | 2021 |  | 2020
Weighted-average grant date fair value |  | $ | 44.08 |  |  | $ | 36.73 |
Total fair value of restricted shares that vested (in thousands) |  | $ | 9,890 |  |  | $ | 11,740 |
Stock Options |  |  |  |
Total intrinsic value of options exercised (in thousands) |  | $ | — |  |  | $ | 84 |

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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=120381028&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=120381028&loc=d3e5070-113901 + Details
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