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Stock-based Employee Compensation, Stock Option Plans, and Deferred Compensation Plan for Directors (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity

The table below summarizes the option activity for the six months ended June 30, 2024:

						Number of Shares						Weighted Average Exercise Price per share						Aggregate Intrinsic Value
Outstanding at January 1						1,820,000						$	49.41					$	1,197,380
Granted						—						—						—
Exercised						(4,375)						33.79						15,306
Expired/Forfeited						(475,125)						51.01						—
Outstanding at June 30						1,340,500						48.89						570,298
Exercisable at June 30						1,100,750						50.75						213,815

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table summarizes the 2024 restricted share awards:

						Directors						Officers
Grant date						May 20, 2024						May 17, 2024
Closing price per share						$	37.52					$	38.10
Fair value per share						34.63						35.27

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The table below summarizes the restricted stock activity for the six months ended June 30, 2024:

						Number of Shares						Weighted Average Estimated Fair Value Per Share						Estimated Aggregate Fair Value
Outstanding at January 1						—						$	—					$	—
Granted						88,200						35.14						3,099,032
Vested						—						—						—
Forfeited						—						—						—
Outstanding at June 30						88,200						35.14						3,099,032
Authorized future grants						46,800

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Tabular disclosure of share-based payment arrangement.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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