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Stock-Based Compensation and Other Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Options Activity

The following table summarizes the collective activity under the plans:

			Number of Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term						Aggregate Intrinsic Value
Outstanding at December 31, 2021			3,532						30.336
Granted			1,605						72.691
Exercised			(196)						20.186
Forfeited			(370)						19.503
Expired			(38)						22.974
Outstanding at December 31, 2022			4,533						$	45.799					7.6 years						$	88,164
Options exercisable at December 31, 2022			1,629						$	17.511					5.7 years						$	66,600
Expected to vest at December 31, 2022			2,904						$	61.673					8.6 years						$	21,564

The following table sets forth additional disclosures about our plans:

			Year Ended December 31,
			2022						2021						2020
Aggregate intrinsic value of options exercised			$	9,775					$	33,494					$	19,762
Cash received from stock option exercises			$	3,954					$	5,563					$	8,995
Weighted-average fair value of stock options granted			$	37.87					$	28.94					$	11.52
Stock-based compensation expense (1)			$	15,046					$	8,716					$	1,933
Income tax benefit from stock-based compensation expense			$	659					$	4,932					$	2,826
(1) Included in selling, general, and administrative expenses in the accompanying consolidated statements of income and includes expense in connection with our ESPP and RSUs.

Schedule of Stock Options Valuation Assumptions

The following table sets forth the significant assumptions used in the model:

			Year Ended December 31,
			2022						2021						2020
Expected dividend yield			—%						—%						—%
Risk-free interest rate			1.69% -3.82%						0.92%-1.46%						0.35%-0.76%
Expected volatility			51%-53%						48%-50%						43%-48%
Expected life			6.5 years						6.5 years						6.5 years

Schedule of Restricted Stock Units

The following table summarizes the activity under the plan:

			Number of Options						Weighted-Average Grant Date Fair Value Per Share
Outstanding at December 31, 2021			—						$	—
Granted			13						52.94
Outstanding at December 31, 2022			13						$	52.94

Schedule of Defined Contribution Plan Disclosures

The following table sets forth our matching contributions under the plans:

			Year Ended December 31,
			2022						2021						2020
401(k) plan			$	6,974					$	6,189					$	5,650
Group Personal Pension Plan			290						252						202
Registered Retirement Savings Plan			406						405						348
Total matching contributions			$	7,670					$	6,846					$	6,200

X

- Definition

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