XML 64 R47.htm IDEA: XBRL DOCUMENT
v3.22.4

EQUITY COMPENSATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Compensation Expense Information Based on Fair Value of Stock Options and RSUs | The following table provides compensation expense information based on the fair value of stock options and RSU's for the years ended December 31 as follows:
(In thousands) | 2022 |  | 2021 |  | 2020
Equity-based Compensation Expense | $ | 6,497 |  |  | $ | 6,460 |  |  | $ | 5,184 |
Tax Benefit | (1,068) |  |  | (924) |  |  | (709) |
Equity-based Compensation Expense, Net of Tax | $ | 5,429 |  |  | $ | 5,536 |  |  | $ | 4,475 |
Summary of Weighted Average Fair Value of Options Granted |
| 2022 |  | 2021 |  | 2020
Weighted Average Fair Value of the Options Granted | $ | 5.97 |  |  | $ | 7.05 |  |  | $ | — |
Summary of Weighted-Average Assumptions | The weighted average fair value for these options was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
| 2022 |  | 2021 |  | 2020
Risk-free Interest Rate | 3.48% – 3.62% |  | 0.45% - 1.52% |  | —%
Dividend Yield | —% |  | —% |  | —%
Volatility Factor | 0.61 |  | 0.58 |  | —
Expected Life in Years | 5 – 9 years |  | 5 - 10 years |  | —
Summary of Company's Stock Option Activity and Related Information | A summary of the Company’s stock option activity and related information for the year ended December 31 is as follows:
| 2022
(Aggregate intrinsic value in thousands) | Options |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value
Outstanding at January 1 | 1,263,658 |  |  | $ | 21.64 |  |  | $ | — |
Options Granted | 276,298 |  |  | $ | 9.74 |  |  | $ | — |
Options Exercised | (51,138) |  |  | $ | 9.85 |  |  | $ | — |
Options Forfeited | (112,100) |  |  | $ | 13.33 |  |  | $ | — |
Outstanding at December 31 | 1,376,718 |  |  | $ | 20.37 |  |  | $ | — |
Exercisable at December 31 | 687,682 |  |  | $ | 27.35 |  |  | $ | — |
Summary of Weighted Average Exercise Prices and Contractual Lives for Outstanding and Exercisable Stock Options | The following is a summary of weighted average exercise prices and contractual lives for outstanding and exercisable stock options as of December 31, 2022:
| Outstanding |  | Exercisable
Exercise Price Range | Shares |  | Weighted Average Remaining Life in Years |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Remaining Life in Years |  | Weighted Average Exercise Price
$3.19 – $14.45 | 757,791 |  |  | 8.9 |  | $ | 11.59 |  |  | 140,770 |  |  | 7.9 |  | $ | 12.28 |
$22.69 – $35.82 | 609,800 |  |  | 4.5 |  | $ | 30.91 |  |  | 537,785 |  |  | 4.1 |  | $ | 30.97 |
$45.89 – $45.89 | 9,127 |  |  | 2.2 |  | $ | 45.89 |  |  | 9,127 |  |  | 2.2 |  | $ | 45.89 |
| 1,376,718 |  |  | 6.9 |  | $ | 20.37 |  |  | 687,682 |  |  | 4.9 |  | $ | 27.35 |
Summary of Fair Value for Options Granted under Employee Stock Purchase Plan | The fair value for the options granted under the Employee Stock Purchase Plan was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
| 2022 |  | 2021 |  | 2020
Risk-free Interest Rate | 4.01 | % |  |  | 0.09 | % |  |  | 0.12 | % |
Dividend Yield | — | % |  |  | — | % |  |  | — | % |
Volatility Factor | 0.50 |  |  | 0.71 |  |  | 1.00 |
Expected Life in Years | 1.0 |  |  | 1.0 |  |  | 1.0 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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 (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + 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 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + 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 (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + 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 (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year. + 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)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration