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Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2025
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 right (option) to purchase shares under the ESPP is estimated at the date of purchase with the four quarterly purchase dates using the following assumptions:
2025
Dividend yield
1.16%
Expected volatility
28.78%
Risk-free interest rate
4.36%, 4.25%, 4.21%, 4.17%
Expected life (years)
0.25, 0.50, 0.75, 1.00
Schedule of Share-based Compensation, Stock Options, Activity
Stock option grants and cancellations are as follows (in thousands, except shares):
Three months ended March 31,
20252024
SharesFair ValueSharesFair Value
Granted(1)
— $— 370,590 $3,830 
Cancelled1,180 $15 294,728 $3,757 
(1)
Stock options granted during the three months ended March 31, 2024 had a weighted average price of $24.48. The fair value of these options was calculated using the Black-Scholes option pricing model. The options granted in 2024 vest over a three-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.
Additional stock option activity is as follows (in thousands, except shares):
Three months ended March 31,
20252024
SharesCashSharesCash
Exercised(1)
190,415 $321 — $— 
Returned for option price(2)
112,858 $4,493 — $— 
Returned for payroll taxes(3)
20,016 $799 — $— 
(1)
Stock options exercised during the three months ended March 31, 2025 had a weighted average exercise price of $25.28 with an aggregate intrinsic value of $2.7 million.
(2)Represents shares withheld/cash received for the payment of the option price.
(3)Represents shares withheld/cash paid for the payment of payroll taxes.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
Restricted stock activity is as follows (in thousands, except shares):
Three months ended March 31,
20252024
SharesFair ValueSharesFair Value
Granted(1)
114,684 $4,764 156,630 $3,834 
Returned for payroll taxes28,656 $1,168 16,315 $418 
Cancelled— $— 26,240 $841 
(1)
Restricted stock granted during the three months ended March 31, 2025 and 2024 vests 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 $41.54 and $24.48, respectively.
Share-based Payment Arrangement, Activity
Common stock issued to certain employees under this incentive program is as follows (in thousands, except shares):
Three months ended March 31,
20252024
SharesFair ValueSharesFair Value
Granted(1)
11,958 $496 31,470 $790 
(1)
Common stock granted during the three months ended March 31, 2025 and 2024 had a grant date stock price of $41.54 and $25.08, respectively.
Share-based Payment Arrangement, Performance Shares, Outstanding Activity
Non-Employee Director and Board Advisor common stock activity is as follows (in thousands, except shares):
Three months ended March 31,
20252024
SharesFair ValueSharesFair Value
Board of Directors(1)
1,866 $72 3,999 $108 
Advisor to the Board(1)
129 $5 184 $5 
(1)
Common stock granted during the three months ended March 31, 2025 and 2024 had a grant date stock price of $38.75 and $27.04, respectively.
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity
Employee Stock Purchase Plan
ESPP activity is as follows:
Three months ended March 31,
20252024
SharesPriceSharesPrice
ESPP11,135 $32.94 16,296 $21.26 
Dividends Declared
Our Board declared the following dividends payable on the dates below (in thousands, except per share amounts):
2025Per ShareDollar Value
March 1st$0.1125 $1,722 
2024Per ShareDollar Value
March 1st$0.1125 $1,686