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Stockholders' Equity Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following table reflects the new performance awards granted during the year ended December 31, 2021, their respective fair values and the assumptions utilized in the Monte-Carlo simulation pricing model:
Grant date |  | April 16, 2021 |  | June 1, 2021 |  | August 12, 2021 |  | September 15, 2021 |  | November 29, 2021
Simulation period (years) |  | 3.71 |  | 3.58 |  | 3.39 |  | 3.29 |  | 3.09
Share price at grant date |  | $35.83 |  | $38.78 |  | $39.48 |  | $45.27 |  | $51.15
Expected volatility |  | 41.17 | % |  | 41.79 | % |  | 42.85 | % |  | 43.44 | % |  | 45.50 | %
Risk-free interest rate |  | 0.52 | % |  | 0.46 | % |  | 0.53 | % |  | 0.49 | % |  | 0.85 | %
Schedule of Share-based Compensation, Stock Options, Activity | Additional stock option activity is as follows (in thousands, except shares):
| Year Ended December 31,
| 2020 |  | 2021
| Shares | Fair Value |  | Shares | Fair Value
Granted(1) | 20,000 |  | $ | 92 |  |  | 701,400 |  | $ | 7,115 |
Cancelled | 146,034 |  | $ | 846 |  |  | 74,688 |  | $ | 722 |
(1) | Stock options granted during the years ended December 31, 2020 and 2021 had a weighted average price of $18.02 and $34.79, respectively. The fair value of these options was calculated using the Black-Scholes option pricing model. The options granted in 2020 vest over a three-year period and have a ten-year term. The options granted in 2021 vest over a five-year period and have a ten-year term. These options will vest if the employee has remained continuously employed by us through the vesting period.
| Year Ended December 31,
| 2020 |  | 2021
| Shares | Cash |  | Shares | Cash
Exercised(1) | 40,365 |  | N/A |  | 423,294 |  | N/A
Returned for option price(2) | 18,640 |  | $ | 19 |  |  | 211,088 |  | $ | 1,013 |
Returned for payroll taxes(3) | 2,954 |  | $ | 89 |  |  | 43,534 |  | $ | 2,272 |
A summary of the stock options at and changes during the three years ended December 31, 2021 is presented in the table below (shares in thousands):
| Years Ended December 31,
| 2019 |  | 2020 |  | 2021
| Shares |  | Wtd. Avg. Ex. Price |  | Shares |  | Wtd. Avg. Ex. Price |  | Shares |  | Wtd. Avg. Ex. Price
Outstanding at January 1 | 1,523 |  |  | $ | 21.95 |  |  | 1,078 |  |  | $ | 23.22 |  |  | 912 |  |  | $ | 23.40 |
Granted | 100 |  |  | $ | 24.35 |  |  | 20 |  |  | $ | 18.02 |  |  | 851 |  |  | $ | 34.79 |
Exercised | (247) |  |  | $ | 17.37 |  |  | (40) |  |  | $ | 13.72 |  |  | (423) |  |  | $ | 21.99 |
Cancelled or expired | (298) |  |  | $ | 21.96 |  |  | (146) |  |  | $ | 23.97 |  |  | (75) |  |  | $ | 33.56 |
Outstanding at December 31 | 1,078 |  |  | $ | 23.22 |  |  | 912 |  |  | $ | 23.40 |  |  | 1,265 |  |  | $ | 30.94 |
Exercisable at December 31 | 643 |  |  | $ | 22.02 |  |  | 668 |  |  | $ | 22.90 |  |  | 426 |  |  | $ | 25.71 |
A summary of the intrinsic value of stock options exercised and the fair value of stock options vested for the three years ended December 31, 2021 is presented in the table below (in thousands):
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | The following table further describes our outstanding stock options at December 31, 2021:
| Options Outstanding |  | Options Exercisable
Actual Ranges of Exercise Prices | Number Outstanding at 12/31/21 |  | Weighted-Average Remaining Contractual Life |  | Weighted-Average Exercise Price |  | Number Exercisable at 12/31/21 |  | Weighted-Average Remaining Contractual Life |  | Weighted-Average Exercise Price
$18.02 - $18.02 | 13,333 |  |  | 3.48 |  | $ | 18.02 |  |  | — |  |  | — |  |  | $ | — |
$20.06 - $26.54 | 464,921 |  |  | 5.18 |  | $ | 24.80 |  |  | 375,793 |  |  | 5.07 |  | $ | 24.51 |
$34.79 - $34.79 | 786,900 |  |  | 9.14 |  | $ | 34.79 |  |  | 50,000 |  |  | 9.14 |  | $ | 34.79 |
$18.02 - $34.79 | 1,265,154 |  |  | 7.63 |  | $ | 30.94 |  |  | 425,793 |  |  | 5.55 |  | $ | 25.71 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | Restricted stock activity is as follows (in thousands, except shares):
| Year Ended December 31,
| 2020 |  | 2021
| Shares | Fair Value |  | Shares | Fair Value
Granted(1) | 10,200 |  | $ | 255 |  |  | 9,300 |  | $ | 324 |
Returned for payroll taxes | 10,588 |  | $ | 250 |  |  | 10,399 |  | $ | 375 |
Cancelled | — |  | $ | — |  |  | 966 |  | $ | 27 |
(1) | Restricted stock granted during the years ended December 31, 2020 and 2021 will vest over a three-year period, if the employee has remained continuously employed by us during the vesting period, at a weighted average stock price of $25.00 and $34.79, respectively.
A summary of the status of unvested restricted stock as of December 31, 2021, and changes during 2021, is presented below:
Restricted stock awards | Shares |  | Weighted Average Grant Date Fair Value
Unvested at January 1, 2021 | 45,130 |  |  | $ | 23.34 |
Granted | 9,300 |  |  | 34.79 |
Vested | (30,821) |  |  | 23.81 |
Cancelled | (966) |  |  | 28.18 |
Unvested at December 31, 2021 | 22,643 |  |  | $ | 27.21 |
Schedule of Dividends Payable | Our Board declared the following dividends payable on the dates below (in thousands, except per share amounts):
2021 | Per Share |  | Dollar Value
March 1st | $ | 0.1000 |  |  | $ | 1,799 |
June 1st | $ | 0.1000 |  |  | $ | 1,808 |
September 1st | $ | 0.1000 |  |  | $ | 1,783 |
December 1st | $ | 0.1125 |  |  | $ | 1,873 |
2020 | Per Share |  | Dollar Value
March 1st | $ | 0.0750 |  |  | $ | 1,339 |
June 1st | $ | 0.0750 |  |  | $ | 1,343 |
September 1st | $ | 0.0875 |  |  | $ | 1,569 |
December 1st | $ | 0.1000 |  |  | $ | 1,797 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable |
| Years Ended December 31,
| 2019 |  | 2020 |  | 2021
Intrinsic value of options exercised | $ | 1,197 |  |  | $ | 517 |  |  | $ | 8,229 |
Fair value of stock options vested | $ | 853 |  |  | $ | 735 |  |  | $ | 1,413 |
Share-based Payment Arrangement, Activity | Additional performance award activity is as follows (in thousands, except shares):
| Years Ended December 31,
| 2020 |  | 2021
| Shares | Fair Value |  | Shares | Fair Value
Granted | 30,743 |  | $ | 733 |  |  | 55,302 |  | $ | 2,116 |
Cancelled | 33,538 |  | $ | 631 |  |  | 55,896 |  | $ | 799 |
Share-based Payment Arrangement, Performance Shares, Outstanding Activity | A summary of the new performance award and changes during the year ended December 31, 2021 is presented in the table and below:
Performance Awards | Shares |  | Weighted Average Grant Date Fair Value
At January 1, 2021 | 366,124 |  |  | $ | 10.89 |
Granted | 55,302 |  |  | 38.27 |
Amended | 70,236 |  |  | 36.36 |
Cancelled | (55,896) |  |  | 14.29 |
At December 31, 2021 | 435,766 |  |  | $ | 21.76 |
Non-Employee Director and Board Advisor common stock activity is as follows (in thousands, except shares):
| Years Ended December 31,
| 2019 |  | 2020 |  | 2021
| Shares | Fair Value |  | Shares | Fair Value |  | Shares | Fair Value
Board of Directors | 7,458 |  | $ | 155 |  |  | 30,883 |  | $ | 654 |  |  | 14,744 |  | $ | 622 |
Advisor to the Board | — |  | $ | — |  |  | 967 |  | $ | 20 |  |  | 466 |  | $ | 20 |
(1) | Common stock granted during the years ended December 31, 2019, 2020 and 2021 had a weighted average price of $20.78, $21.16 and $42.14, respectively.
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity | ESPP activity is as follows (in thousands, except shares):
| Years Ended December 31,
| 2019 |  | 2020 |  | 2021
| Shares | Price |  | Shares | Price |  | Shares | Price
ESPP | 73,731 |  | $ | 13.18 |  |  | 71,908 |  | $ | 16.71 |  |  | 61,904 |  | $ | 26.32 |
Employee Stock Option |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of the options granted using the Monte-Carlo simulation pricing model was estimated on the date of grant with the following assumptions:
| Year ended December 31, 2021
Awards granted | 150,000
Dividend yield | 1.15 | %
Expected volatility | 34.08 | %
Risk-free interest rate | 1.29 | %
The fair value of the options granted using the Black-Scholes option pricing model was estimated on the date of grant with the following assumptions:
| Years Ended December 31,
| 2019 |  | 2020 |  | 2021
Awards granted | 100,000 |  | 20,000 |  | 701,400
Dividend yield | 1.23 | % |  | 1.67 | % |  | 1.15 | %
Expected volatility | 27.45 | % |  | 38.54 | % |  | 36.72 | %
Risk-free interest rate | 1.65 | % |  | 0.25 | % |  | 0.57 | %
Expected holding period (years) | 5.0 |  | 3.7 |  | 5.0
Black-Scholes value | $5.70 |  | $4.61 |  | $10.14
Employee Stock Purchase Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair values of the right to purchase shares under the ESPP are estimated at the date of purchase with the four quarterly purchase dates using the following assumptions:
| Years Ended December 31,
| 2019 |  | 2020 |  | 2021
Dividend yield | 1.4 | % |  | 1.5 | % |  | 0.01 | %
Expected volatility | 36.1 | % |  | 48.6 | % |  | 48.1 | %
Risk-free interest rate | 2.42%, 2.51%, 2.56%, 2.60% |  | 1.54%, 1.57%, 1.57%,1.56% |  | 0.09%, 0.09%, 0.10%, 0.10%
Expected life (years) | 0.25, 0.50, 0.75, 1.00 |  | 0.25, 0.50, 0.75, 1.00 |  | 0.25, 0.50, 0.75, 1.00

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