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Stock-Based Compensation Plans | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation Plans | NOTE 13. Stock-Based Compensation Plans The 2017 Long-Term Incentive Plan (the “2017 Incentive Plan”) was approved by the Board of Directors and subsequently approved by the Company’s stockholders at the 2017 annual meeting. The 2017 Incentive Plan authorizes a broad range of awards including stock options, stock appreciation rights, restricted stock and restricted stock units, performance shares or units, other stock-based awards, and cash incentive awards to all employees (including the Company’s executive officers), directors, consultants, independent contractors or agents of us or a related company. The 2017 Incentive Plan is effective as of March 15, 2017. As of December 31, 2021, 401,451 s hares were available for future grant under the 2017 Incentive Plan. We have awarded time-based restricted stock to our employees and the Company’s non-employee directors (“Outside Directors”). This restricted stock generally vests ratably (once per year) over a three to five-year period for recipients other than Outside Directors. Outside Directors’ restricted stock vests over a one-year period. In 2021, 2020 and 2019 we also granted performance-based restricted stock to our executive officers. The performance-based restricted stock vests upon the third anniversary of its issuance if certain financial targets are achieved. Share-based compensation expense for 2021, 2020 and 2019 was $20.1 million, $17.1 million and $16.3 million or $14.9 million, $13.1 million and $12.1 million, net of taxes, respectively. Included in the 2021, 2020 and 2019 share-based compensation expense was $5.8 million, $4.5 million and $3.4 million of performance-based share expenses o r $4.3 million, $3.5 million and $2.6 million, net of taxes, respectively. The fair value of non-vested restricted stock is equal to the market price of our stock at the date of grant. The following table summarizes the non-vested restricted stock activity for the year ended December 31, 2021:
|  |  |  | Time-Based |  |  |  |  |  | Performance-Based |
|  |  |  | Restricted Stock |  |  |  |  |  | Restricted Stock |
|  |  |  | Weighted |  |  |  |  |  | Weighted |
| Time-Based |  |  | Average |  |  | Performance-Based |  |  | Average |
| Restricted Stock |  |  | Grant Date |  |  | Restricted Stock |  |  | Grant Date |
| Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Non-vested January 1, 2021 |  | 792,483 |  |  | $ | 46.01 |  |  |  | 129,478 |  |  | $ | 45.64 |
Granted |  | 534,580 |  |  | $ | 66.02 |  |  |  | 117,608 |  |  | $ | 50.60 |
Vested |  | (303,995 | ) |  | $ | 44.08 |  |  |  | (76,000 | ) |  | $ | 37.20 |
Forfeited |  | (117,701 | ) |  | $ | 48.48 |  |  |  | (42,132 | ) |  | $ | 47.77 |
Non-vested at December 31, 2021 |  | 905,367 |  |  | $ | 59.00 |  |  |  | 128,954 |  |  | $ | 54.45 |
The following table summarizes the restricted stock granted during the respective years:
Time-based restricted stock grants | 2021 |  |  | 2020 |  |  | 2019 |
Employees |  | 510,017 |  |  |  | 312,855 |  |  |  | 355,579 |
Outside directors |  | 24,563 |  |  |  | 26,341 |  |  |  | 32,262 |
Total |  | 534,580 |  |  |  | 339,196 |  |  |  | 387,841 |
Weighted average grant date fair value | $ | 66.02 |  |  | $ | 52.07 |  |  | $ | 38.02 |
Vesting period | 1-5 years |  |  | 1-5 years |  |  | 1-5 years |
The performance-based restricted stock granted in 2019 earned a 200% award therefore an additional 38,000 shares were issued to settle the award on the vesting date of December 21, 2021. The 2021 grant of performance-based restricted stock resulted in the issuance of 79,608 shares. The performance-based restricted stock grants were 75,288 in 2020 and 76,500 in 2019. The weighted average grant date fair value of these shares was $57.00 in 2021, $51.07 in 2020, and $37.20 in 2019. The total fair value of restricted shares vested during the years ended December 31, 2021, 2020 and 2019 was $25.4 million, $17.8 million and $14.7 million, respectively. As of December 31, 2021, 2020, and 2019, there was $45.5 million, $27.5 million and $27.4 million of unrecognized compensation cost related to non-vested time-based compensation, respectively, that is expected to be recognized over a weighted average period for 2021, 2020, and 2019 of 3.11 years, 2.47 years and 2.91 years, respectively. Additionally, as of December 31, 2021, 2020, and 2019 there was $6.5 million, $4.0 million and $3.7 million of unrecognized compensation cost, respectively, related to the non-vested performance-based restricted stock compensation that is expected to be recognized over a weighted average period of 1.5 years for 2021, 2020 and 2019.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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