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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

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						2024						2023
Expected quarterly dividends per share						$	0.3875					$	0.3675
Risk-free interest rate						4.27		%				4.46		%
Market-Based Shares
Dividend yield						4.21		%				N/A
Expected volatility						13.09		%				N/A
Risk-free interest rate						4.31		%				N/A

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the three months ended March 31, 2024:

			Restricted Stock
			Shares						Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2023			212,080						$	40.33
Granted			188,019						32.43
Released			(145,020)						37.18
Forfeited			—						—
Outstanding at March 31, 2024			255,079						$	36.30

The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares:

						Three Months Ended March 31,
Restricted Stock						2024						2023
Weighted-average grant date fair value						$	32.43					$	44.78
Total fair value of restricted shares that vested (in thousands)						$	5,395					$	8,394

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- References

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- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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