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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Stock-Based Compensation [Abstract] |
Unvested Restricted Stock Units Activity | The Company has outstanding restricted stock granted from various plans at December 31, 2020. The Company recognized $4.6 million, $4.2 million and $3.9 million in stock-based compensation expense related to these stock awards for the years ended December 31, 2020, 2019 and 2018, respectively. Tax benefits recognized with respect to restricted stock awards and stock units were $1.0 million, $1.1 million and $1.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. Unrecognized compensation cost related to restricted stock units totaled $5.1 million at December 31, 2020 and will be recognized over 1.5 years on a weighted average basis. Shares issued are funded from the Company’s treasury stock. The following table summarizes information for unvested restricted stock units outstanding as of December 31, 2020:
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |
Unvested at January 1, 2020 |  |  | 555,440 |  |  | $ | 30.11 |
Forfeited |  |  | (2,315 | ) |  |  | 34.82 |
Vested |  |  | (115,432 | ) |  |  | 29.93 |
Granted |  |  | 147,562 |  |  |  | 28.61 |
Unvested at December 31, 2020 |  |  | 585,255 |  |  | $ | 29.78 |
Stock Option Activity | The following table summarizes information concerning stock options outstanding:
(In thousands, except share and per share data) |  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in Years) |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2020 |  |  | 33,145 |  |  | $ | 23.73 |  |  |  |  |  |  |
Exercised |  |  | (8,845 | ) |  |  | 20.87 |  |  |  |  |  |  |
Expired |  |  | (10,500 | ) |  |  | 20.74 |  |  |  |  |  |  |
Outstanding at December 31, 2020 |  |  | 13,800 |  |  | $ | 27.83 |  |  |  | 3.36 |  |  | $ | 75 |
Exercisable at December 31, 2020 |  |  | 13,800 |  |  | $ | 27.83 |  |  |  | 3.36 |  |  | $ | 75 |
Cash Proceeds, Tax Benefits and Intrinsic Value of Stock Options Exercised | There was no stock-based compensation expense for stock option awards for the year ended December 31, 2020. Total stock-based compensation expense for stock option awards totaled $1 thousand and $11 thousand for the years ended December 31, 2019 and 2018, respectively. Cash proceeds, tax benefits and intrinsic value related to total stock options exercised is as follows:
|  | Years Ended December 31, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Proceeds from stock options exercised |  | $ | 185 |  |  | $ | 725 |  |  | $ | 999 |
Tax benefits related to stock options exercised |  |  | 41 |  |  |  | 123 |  |  |  | 173 |
Intrinsic value of stock options exercised |  |  | 165 |  |  |  | 490 |  |  |  | 692 |
Fair value of shares vested during the year |  |  | - |  |  |  | 13 |  |  |  | 16 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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