Stock-Based Compensation Plans

6 Months Ended

Jun. 30, 2022

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

NOTE 13 – STOCK-BASED COMPENSATION PLANS

The compensation cost recorded for stock options for the three months ended June 30, 2022 and 2021 was $1.5 million and $1.3 million, respectively. The compensation cost recorded for stock equivalent units for the three months ended June 30, 2022 was $7.0

million. The

compensation credit recorded for stock equivalent units for the three months ended June 30, 2021 was $1.5 million.

The compensation cost recorded for stock options for the first six months of 2022 and 2021 was $3.2 million and $2.9 million, respectively. The compensation cost recorded for stock equivalent units for the first six months of 2022 and 2021 was $14.1 million and $2.9 million, respectively.

The following table summarizes the transactions of the Company’s share-based compensation plans for the six months ended June 30, 2022.


	Number of shares			Weighted Average Grant-Date Fair Value
Nonvested at December 31, 2021		680,711		$	74.6
Granted		169,181		$	87.5
Vested		(122,052	)	$	69.5
Forfeited		(57,746	)	$	69.1

Nonvested at June 30, 2022		670,094		$	79.2

New grants in the quarter have similar vesting conditions to those granted in previous periods. The valuation methodologies of the new grants are consistent with previous periods.

As of June 30, 2022, there was $26.8 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.98 years.