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STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2024

STOCK-BASED COMPENSATION PLANS

Schedule of activity in this long-term incentive program

​

​	​	​	​	​	​
​	​	Stock Options
​	​	​	​	Weighted-
​	​	​	​	average Exercise
​		Outstanding		Price of Shares
Outstanding at December 31, 2022		1,485,022	​	$	53.45
Granted		252,974	​		54.06
Exercised		(71,559)	​		34.27
Forfeited		(24,583)	​		60.84
Outstanding at December 31, 2023		1,641,854	​	​	54.27
Granted		315,804	​		44.27
Exercised		(260,642)	​		41.45
Forfeited		(53,089)	​		56.41
Outstanding at December 31, 2024		1,643,927	​		54.31
Exercisable at December 31, 2024		1,047,708	​	$	54.98

​

Schedule of information about stock options outstanding under the Company's stock option plan

The following table summarizes the information about stock options outstanding under the Company’s stock option plan at December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options outstanding

​

Options exercisable

​

​

​

​

Weighted-

​

Weighted-

​

​

​

Weighted-

​

​

​

​

average

​

average

​

​

​

average

​

​

​

​

Exercise

​

Remaining

​

​

​

Exercise

Range of Exercise Price

Shares

Price

Life (years)

Shares

Price

$0.00 – $26.00

30,002

​

$

23.04

2.00

30,002

​

$

23.04

$26.01 – $36.00

51,207

​

35.36

0.21

51,207

​

35.36

$36.01 – $46.00

452,106

​

42.19

6.51

159,712

​

38.37

$46.01 – $56.00

542,707

​

53.73

5.90

354,494

​

53.73

$56.01 – $81.00

567,905

​

67.88

5.12

452,293

​

66.15

TOTAL

1,643,927

​

$

54.31

5.55

1,047,708

​

$

54.98

​

Schedule of valuation assumptions used to estimate value of stock options

​

​	​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
Weighted-average Fair Value of Options Granted	​	$	12.32	​	$	14.93	​	$	17.86	​
Assumptions:	​		​	​		​	​		​	​
Weighted-average expected life (in years)	​		6.50	​		6.50	​		6.50	​
Future dividend yield	​		2.77	%		2.48	%		2.41	%
Share price volatility	​		29.95	%		29.72	%		29.88	%
Weighted-average risk-free interest rate	​		4.31	%		3.74	%		2.16	%

Schedule of activity unvested restricted stock awards

​

​	​	​	​	​	​
​	​	Restricted	​	Weighted-average
​		Shares		grant date fair value
Unvested at December 31, 2022		133,520	​	$	67.89
Awards		70,338	​		54.03
Forfeitures		(2,648)	​		60.56
Vestings		(51,647)	​		65.55
Unvested at December 31, 2023		149,563	​	​	62.31
Awards		88,929	​		44.43
Forfeitures		(14,457)	​		61.68
Vestings		(78,279)	​		62.41
Unvested at December 31, 2024		145,756	​	$	51.43

​

Schedule of performance restricted shares and weighted-average grant date fair value

​

​	​	​	​	​	​
​	​	Performance	​	​	​
​	​	Restricted	​	Weighted-average
​		Shares		grant date fair value
Unvested at December 31, 2022		31,999	​	$	34.93
Awards		52,588	​		25.36
Forfeitures		(2,874)	​		34.93
Vestings		(575)	​		34.93
Unvested at December 31, 2023		81,138	​	​	27.15
Awards		60,358	​		21.32
Forfeitures		(25,139)	​		29.54
Vestings		(7,483)	​		31.31
Unvested at December 31, 2024		108,874	​	$	25.02

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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