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SHARE BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Fair Value Stock Options | The fair value of stock options was $7.255 per share and was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:
Exercise price | $ | 66.36 |
Risk-free rate | 0.978 | %
Expected term | 6.25 years
Expected volatility | 21.08 | %
Dividend Yield | 3.974 | %
Schedule of Compensation Expense Recognized | Total share-based compensation expense recognized in the consolidated financial statements for the years ended December 31, 2020 and 2019, the transition period ended December 31, 2018, and the fiscal year ended April 30, 2018, for all share-based awards was as follows:
|  | (in thousands)
|  | Year Ended December 31, |  | Transition Period Ended |  | Fiscal Year Ended April 30,
|  | 2020 | 2019 |  | December 31, 2018 |  | 2018
Share based compensation expense |  | $ | 2,106 |  | $ | 1,905 |  |  | $ | 845 |  |  | $ | 1,587 |
Schedule of Restricted Share Awards Activity | The activity for the years ended December 31, 2020 and 2019, the transition period ended December 31, 2018, and the fiscal year ended April 30, 2018, related to our restricted share awards was as follows:
|  | Awards with Service Conditions
|  |  | Wtd Avg Grant-
|  | Shares | Date Fair Value
Unvested at April 30, 2017 |  | 19,511 |  |
Granted |  | 9,136 |  | $ | 57.55 |
Vested |  | (18,545) |  | $ | 59.89 |
Forfeited |  | (202) |  | $ | 62.40 |
Unvested at April 30, 2018 |  | 9,900 |  |
Granted |  | — |  |
Vested |  | (2,709) |  | $ | 63.21 |
Forfeited |  | — |  |
Unvested at December 31, 2018 |  | 7,191 |  |
Granted |  | — |  |
Vested |  | (4,999) |  | $ | 61.06 |
Forfeited |  | — |  |
Unvested at December 31, 2019 |  | 2,192 |  | 59.20 |
Granted |  | — |  |
Vested |  | (2,192) |  | $ | 59.20 |
Forfeited |  | — |  |
Unvested at December 31, 2020 |  | — |  |
The activity for the years ended December 31, 2020 and 2019, the transition period ended December 31, 2018, and the fiscal year ended April 30, 2018, related to our RSUs was as follows:
|  | RSUs with Service Conditions |  | RSUs with Market Conditions
|  |  | Wtd Avg Grant- |  |  | Wtd Avg Grant-
|  | Shares | Date Fair Value |  | Shares | Date Fair Value
Unvested at April 30, 2017 |  | — |  | — |  |  | — |  | — |
Granted |  | 6,994 |  | $ | 60.54 |  |  | 11,538 |  | $ | 70.90 |
Vested |  | (207) |  | $ | 50.30 |  |  | — |  | — |
Forfeited |  | — |  | — |  |  | — |  | — |
Unvested at April 30, 2018 |  | 6,787 |  | $ | 60.85 |  |  | 11,538 |  | $ | 70.90 |
Granted |  | 14,878 |  | $ | 53.60 |  |  | 15,461 |  | $ | 57.70 |
Vested |  | (2,943) |  | $ | 60.83 |  |  | — |  | — |
Forfeited |  | (462) |  | $ | 53.60 |  |  | (1,680) |  | $ | 70.90 |
Unvested at December 31, 2018 |  | 18,260 |  | $ | 55.13 |  |  | 25,319 |  | $ | 62.84 |
Granted |  | 16,084 |  | $ | 59.76 |  |  | 12,978 |  | $ | 79.49 |
Vested |  | (11,633) |  | $ | 55.35 |  |  | — |  | — |
Forfeited |  | (365) |  | $ | 51.73 |  |  | (475) |  | $ | 57.70 |
Unvested at December 31, 2019 |  | 22,346 |  | $ | 58.41 |  |  | 37,822 |  | $ | 68.62 |
Granted |  | 17,981 |  | $ | 68.25 |  |  | — |  | $ | — |
Vested |  | (14,991) |  | $ | 59.10 |  |  | (13,357) |  | $ | 74.68 |
Change in awards(1) |  | — |  | — |  |  | 4,436 |  | — |
Forfeited |  | (508) |  | $ | 62.99 |  |  | (1,907) |  | $ | 63.92 |
Unvested at December 31, 2020 |  | 24,828 |  | $ | 65.03 |  |  | 26,994 |  | $ | 67.87 |
Schedule of Stock Options Activity | The stock option activity for the year ended December 31, 2020 was as follows:
|  | Number of Shares | Weighted Average Exercise Price
Outstanding at beginning of year |  | — |  | — |
Granted |  | 141,000 |  | $ | 66.36 |
Exercised |  | — |  | — |
Forfeited |  | (1,952) |  | $ | 66.36 |
Outstanding at end of year |  | 139,048 |  | $ | 66.36 |
Exercisable at end of year |  | — |  | — |

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- Definition 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. + References No definition available. + Details
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