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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
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 |  | 2025 |  | 2024
Expected quarterly dividends per share |  | $ | 0.4075 |  |  | $ | 0.3875 |
Risk-free interest rate |  | 4.00 | % |  | 4.27 | %
Market-Based Shares |  |  |  |
Dividend yield |  | 3.12 | % |  | 4.21%
Expected volatility |  | 15.67 | % |  | 13.09%
Risk-free interest rate |  | 4.12 | % |  | 4.31%
The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the three months ended March 31, 2025:
| Restricted Stock |  |
| Shares |  | Weighted- Average Grant Date Fair Value |  |  |  |
Outstanding at December 31, 2024 | 241,237 |  |  | $ | 37.05 |  |  |  |  |
Granted | 148,752 |  |  | 47.02 |  |  |  |  |
Released | (123,323) |  |  | 41.77 |  |  |  |  |
Forfeited | (4,002) |  |  | 33.89 |  |  |  |  |
Outstanding at March 31, 2025 | 262,664 |  |  | $ | 40.53 |  |  |  |  |
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares:
|  | Three Months Ended March 31,
Restricted Stock |  | 2025 |  | 2024
Weighted-average grant date fair value |  | $ | 47.02 |  |  | $ | 32.43 |
Total fair value of restricted shares that vested (in thousands) |  | $ | 6,101 |  |  | $ | 5,395 |

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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 + Details
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