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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Options, Valuation Assumptions

The weighted-average fair value of options granted and the weighted-average assumptions used in the Black-Scholes-Merton option pricing model for such grants were as follows:

			2020			2019			2018
Dividend Yield			0.4		%	0.3		%	0.3		%
Expected Volatility			39.4		%	36.5		%	34.8		%
Risk-free Interest Rate			0.9		%	2.5		%	2.6		%
Expected Term (in years)			5.3			5.3			5.3
Weighted-average Fair Value of Stock Options Granted			$	13.48		$	19.59		$	16.54

Summary Information about Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2020:

			Options Outstanding																		Options Exercisable
Range of Exercise Prices			Number Outstanding December 31, 2020						Weighted Average Remaining Contractual Life (in Years)						Weighted Average Exercise Price						Number Exercisable December 31, 2020						Weighted Average Exercise Price
$20.00-30.00			200,926						5.19						$	24.11					200,926						$	24.11
30.01-40.00			201,776						8.86						36.33						—						—
40.01-50.00			320,126						7.49						46.52						147,533						45.34
20.00-50.00			722,828						7.23						37.45						348,459						33.10

Summary of Stock Option Activity

The table below summarizes option activity for the year ended December 31, 2020:

			Options (In Thousands)						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (in Years)						Aggregate Intrinsic Value (in Thousands)						Weighted Average Fair Value
Outstanding at January 1, 2020			1,730						$	34.71
Granted - pre-spin			400						38.44
Forfeited/expired - pre-spin			(99)						44.53
Exercised - pre-spin			(920)						26.87
Separation of The Aaron's Company, Inc. on November 30, 2020			(1,111)						41.67
Granted in Equity Conversion on November 30, 2020			723						37.45
Outstanding at December 31, 2020			723						37.45						7.2						$	11,873					$	12.96
Expected to Vest			366						41.60						8.4						4,491						14.76
Exercisable at December 31, 2020			348						33.10						6.1						7,237						11.06

Summary of Restricted Stock Activity

The following table summarizes information about restricted stock activity during 2020:

			Restricted Stock (In Thousands)			Weighted Average Fair Value
Non-vested at January 1, 2020			494			$	44.33
Granted - pre-spin			375			41.45
Forfeited - pre-spin			(65)			44.89
Vested - pre-spin			(209)			41.33
Separation of The Aaron's Company, Inc. on November 30, 2020			(595)			43.50
Granted in Equity Conversion on November 30, 2020			487			37.35
Forfeited - post-spin			(2)			40.88
Vested - post-spin			(25)			34.44
Non-vested at December 31, 2020			460			37.49

Summary of Performance Share Units

The following table summarizes information about performance share unit activity during 2020:

			Performance Share Units (In Thousands)						Weighted Average Fair Value
Non-vested at January 1, 2020			582						$	43.93
Granted - pre-spin			248						36.05
Forfeited/unearned - pre-spin			(62)						45.55
Vested - pre-spin			(325)						37.78
Separation of The Aaron's Company, Inc. on November 30, 2020			(443)						44.11
Granted in Equity Conversion on November 30, 2020			346						39.10
Forfeited/unearned - post-spin			(3)						38.90
Vested - post-spin			(47)						34.33
Non-vested at December 31, 2020			296						39.85

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