XML 54 R40.htm IDEA: XBRL DOCUMENT v3.20.4

SHARE BASED COMPENSATION (Tables)

12 Months Ended

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						—			—

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in stock options.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration