XML 69 R47.htm IDEA: XBRL DOCUMENT v3.22.0.1
Share-Based Payments (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Arrangements by Share-based Payment Award
The following is a summary of restricted stock award activity for the year ended December 31, 2021:
SharesWeighted Average
Grant-Date
Fair Value
Nonvested, Beginning of Year128,664 $44.30 
Granted59,150 43.55 
Vested(47,646)42.98 
Forfeited(2,075)40.95 
Nonvested, End of Year138,093 $44.48 
The grant date fair value of stock performance awards granted during the years ended December 31, 2021, 2020 and 2019 was determined using a Monte Carlo fair value simulation model incorporating the following assumptions:
202120202019
Risk-free interest rate0.18 %1.42 %2.52 %
Expected term (in years)3.003.003.00
Expected volatility32.00 %19.00 %21.00 %
Dividend yield3.60 %2.80 %3.00 %
The following is a summary of stock performance award activity for the year ended December 31, 2021 (share amounts reflect awards at target):
 SharesWeighted Average
Grant-Date
Fair Value
Nonvested, Beginning of Year164,600 $42.32 
Granted79,000 38.34 
Vested(54,000)35.73 
Forfeited— — 
Nonvested, End of Year189,600 $42.54