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Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Options Activity

A summary of the status of the Company’s stock options at December 31, 2019, together with changes during the periods then ended, is presented below:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Aggregate

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

Number

 

 

Exercise

 

 

Contractual

 

 

Value

 

 

 

of Options

 

 

Price

 

 

Term (Years)

 

 

(In Thousands)

 

Outstanding at December 31, 2018

 

 

372,260

 

 

$

39.08

 

 

 

 

 

 

 

Options exercised

 

 

(54,420

)

 

 

13.87

 

 

 

 

 

 

 

Outstanding at December 31, 2019

 

 

317,840

 

 

 

43.40

 

 

 

4.49

 

 

 

14,958

 

Exercisable at December 31, 2019

 

 

195,340

 

 

 

19.60

 

 

 

2.16

 

 

$

13,841

 

Summary of Fair Value of Stock Option Awards Under Black-Scholes Option-Pricing Model

The fair value of stock option awards as determined under the Black-Scholes option-pricing model was estimated with the following weighted-average assumptions:

 

 

 

2018

 

Expected volatility

 

 

42.2

%

Risk free interest rate

 

 

2.7

%

Expected dividend yield

 

 

1.2

%

Expected term

 

 

8.3 years

 

Weighted average fair value per share

 

$

36.41

 

Schedule of Restricted Stock Unit Activity

The following table presents restricted stock unit activity:

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Grant Date

 

 

 

Units

 

 

Fair Value

 

Nonvested at December 31, 2018

 

 

203,854

 

 

$

60.93

 

Granted

 

 

72,803

 

 

 

79.55

 

Vested

 

 

(98,829

)

 

 

56.49

 

Cancelled/Forfeited

 

 

(4,355

)

 

 

70.12

 

Nonvested at December 31, 2019

 

 

173,473

 

 

$

71.49

 

Schedule of Performance Share Unit Activity

The following table presents PSU activity:

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Grant Date

 

 

 

Units

 

 

Fair Value

 

Nonvested at December 31, 2018

 

 

33,325

 

 

$

66.34

 

Granted

 

 

11,488

 

 

 

72.02

 

Vested

 

 

(3,969

)

 

 

74.60

 

Cancelled/Forfeited

 

 

(5,018

)

 

 

64.76

 

Nonvested at December 31, 2019

 

 

35,826

 

 

$

67.47