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Stock Incentive Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Options Activity | A summary of the status of the Company’s stock options at December 31, 2024, 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, 2023 |  |  | 400,000 |  |  | $ | 17.89 |  |  |  | — |  |  |  | — |
Options granted at market price |  |  | 34,500 |  |  |  | 43.78 |  |  |  | — |  |  |  | — |
Options exercised |  |  | (20,500 | ) |  |  | 6.73 |  |  |  | — |  |  |  | — |
Outstanding at December 31, 2024 |  |  | 414,000 |  |  |  | 20.60 |  |  |  | 3.09 |  |  |  | 9,474 |
Exercisable at December 31, 2024 |  |  | 219,500 |  |  | $ | 17.00 |  |  |  | 2.54 |  |  | $ | 5,803 |
Schedule of Fair Value of Stock Option Awards Determined 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:
|  | 2024 |
Expected volatility |  |  | 24.4 | %
Risk free interest rate |  |  | 4.2 | %
Expected dividend yield |  |  | 0.7 | %
Expected term (years) |  |  | 5.0 |
Weighted average fair value per share |  | $ | 12.16 |
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, 2023 |  |  | 877,112 |  |  | $ | 19.14 |
Granted |  |  | 266,812 |  |  |  | 31.84 |
Vested |  |  | (348,524 | ) |  |  | 17.94 |
Cancelled/Forfeited |  |  | (34,543 | ) |  |  | 20.11 |
Nonvested at December 31, 2024 |  |  | 760,857 |  |  | $ | 24.10 |
Schedule of Performance Share Unit Activity | The following table presents PSU activity:
|  |  |  |  | Weighted Average |
|  |  |  |  | Grant Date |
|  | Units |  |  | Fair Value |
Nonvested at December 31, 2023 |  |  | 245,176 |  |  | $ | 18.23 |
Granted |  |  | 117,661 |  |  |  | 25.99 |
Vested |  |  | (97,089 | ) |  |  | 17.29 |
Nonvested at December 31, 2024 |  |  | 265,748 |  |  | $ | 22.01 |

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- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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