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Share-Based Payments: (Tables)

9 Months Ended

Sep. 30, 2021

Equity:

The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2021:

The following table sets forth information with respect to nonvested options for the nine months ended September 30, 2021:

		Number of Shares				Weighted Average Grant-Date Fair Value
Nonvested options – beginning of period			353,790			$	12.96
Nonvested options granted			9,000			$	11.35
Nonvested options vested or forfeited			(38,730	)		$	13.00
Nonvested options – end of period			324,060			$	12.91

The following table summarizes stock option information as of September 30, 2021

The following table summarizes stock option information as of September 30, 2021:

		Shares				Weighted Average Exercise Price
Outstanding at January 1, 2021			713,210			$	52.74
Options granted			9,000				62.18
Options forfeited			(39,220	)			62.64
Options exercised			(48,370	)			35.71
Outstanding at September 30, 2021			634,620			$	53.56
Options exercisable			310,560			$	44.53
Options available for future grants			610,935

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2021 and September 30, 2020 were as follows

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the nine months ended September 30, 2021 and September 30, 2020 were as follows:

(In thousands)			September 30, 2021				September 30, 2020
Cash proceeds from stock options exercised		$	1,727			$	796
Tax benefits			240				--
Intrinsic value of stock options exercised			1,562				788

The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2021 and 2020 are set forth in the following table:

The weighted average fair values of the options granted by Inter Parfums, Inc. during the nine months ended September 30, 2021 and 2020 were $11.35 and $12.16 per share, respectively, on the date of grant using the Black-Scholes option pricing model to calculate the fair value of options granted. The assumptions used in the Black-Scholes pricing model for the periods ended September 30, 2021 and 2020 are set forth in the following table:

			September 30, 2021			September 30, 2020
Weighted average expected stock-price volatility			25	%			25	%
Weighted average expected option life			5 years				5 years
Weighted average risk-free interest rate			0.4	%			1.4	%
Weighted average dividend yield			1.6	%			2.5	%

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