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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Certain Information Related to Stock Options and PSUs

The following table provides certain information related to Stock Options, Restricted Stock, PSUs and RSUs for the year ended December 31, 2020 (in thousands, except per share data):

						For the Year Ended December 31, 2020
						Stock Options																								Restricted Stock												Performance Share Units												Restricted Stock Units
						Number of Options (2)						Weighted Average Exercise Price per Share (1)						Aggregate Intrinsic Value						Weighted Average Remaining Term						Number of Shares (2)						Weighted Average Grant Date Fair Value per Share (1)						Number of Share Units (2)						Weighted Average Grant Date Fair Value per Share Units (1)						Number of Share Units (2)						Weighted Average Grant Date Fair Value per Share Units (1)
Outstanding as of December 31, 2019						2,025						$	27.28																	16						$	30.85					149						$	32.13					25						$	26.47
Granted						1,214						17.77																		—						—						—						—						342						16.13
Forfeited						(5)						31.64																		—						—						—						—						—						—
Exercised						—						—																		n/a						n/a						n/a						n/a						n/a						n/a
Vested						n/a						n/a																		(16)						30.85						(83)						31.76						(90)						19.49
Expired						(132)						22.84																		n/a						n/a						n/a						n/a						n/a						n/a
Outstanding as of December 31, 2020						3,102						$	23.74					$	32					7.22						—						$	—					66						$	32.59					277						$	15.97
Exercisable as of December 31, 2020						1,653						$	26.00					$	—					5.67

(1)Unless otherwise specified, such as in the case of the exercise of Stock Options, the per share prices were determined using the closing price of the Company’s Common Stock as quoted on the exchanges on which the Company was listed. Shares issued upon exercise of options represent original issuances in private transactions pursuant to Section 4(2) of the Securities Act of 1933, as amended or issuances under the Company’s Incentive Plan.

(2)All shares outstanding as of December 31, 2020, are expected to vest.

n/a Not applicable

Certain Information Regarding Company's Share-Based Compensation

The following table provides certain information in connection with the Company’s share-based compensation arrangements for the periods presented (in thousands): 

						Years Ended December 31,
						2020						2019						2018
Compensation expense:
Stock options						$	4,519					$	6,516					$	7,579
Restricted stock						514						3,104						609
Performance share units						945						2,508						4,598
Restricted stock units						2,717						880						—
Total						$	8,695					$	13,008					$	12,786
Deferred tax benefits:
Stock options						$	719					$	1,522					$	1,877
Restricted stock						—						47						8
Performance share units						52						185						945
Restricted stock units						106						—						—
Total						$	877					$	1,754					$	2,830
Realized tax benefits:
Stock options						$	—					$	577					$	7,957
Restricted stock						—						37						—
Performance share units						275						1,163						920
Restricted stock units						—						—						—
Total						$	275					$	1,777					$	8,877
Excess tax benefits (shortfall):
Stock options						$	(209)					$	415					$	5,330
Restricted stock						—						(18)						—
Performance share units						(28)						244						97
Restricted stock units						—						—						—
Total						$	(237)					$	641					$	5,427
Weighted average fair value per option or share:
Stock option grants						$	3.67					$	9.82					$	11.74
Restricted stock grants						$	—					$	30.73					$	33.64
Performance share unit grants						$	—					$	33.47					$	32.51
Restricted stock unit grants						$	16.13					$	26.47					$	—
Intrinsic value of options exercised						$	—					$	2,343					$	32,217
Fair value of restricted stock vested						$	252					$	2,783					$	632
Fair value of performance share units vested						$	2,151					$	5,520					$	3,726
Fair value of restricted stock units vested						$	1,559					$	657					$	—
Cash received for strike price and tax withholdings						$	—					$	238					$	120
Shares acquired through cashless exercise (1)						64						186						1,361
Value of shares acquired through cashless exercise (1)						$	1,315					$	6,133					$	49,199

(1)All shares acquired represent shares tendered to cover the strike price for options and tax withholdings on the intrinsic value of Stock Options exercised, Restricted Stock vested, PSUs vested or RSUs vested. These shares have been canceled by the Company.

Unrecognized Compensation Expense and Weighted Average Period

The following table provides the amount of unrecognized compensation expense as of the most recent balance sheet date and the weighted average period over which those expenses will be recorded for Stock Options, Restricted Stock, PSUs and RSUs (dollars in thousands):

						As of December 31, 2020
						Stock Options						Restricted Stock						Performance Share Units						Restricted Stock Units
Unrecognized expense						$	4,193					$	—					$	297					$	3,235
Weighted average remaining years						1.92						—						0.98						1.32

Summary of Assumptions Utilized in the Black-Scholes Model for Stock Options Granted

The following table provides the assumptions utilized in the Black-Scholes model for Stock Options granted during the periods presented: 

						Years Ended December 31,
						2020						2019						2018
Weighted-average risk-free interest rate						0.49		%				2.44		%				2.69		%
Expected term of option in years						6.00						6.00						6.00
Weighted-average volatility						35.8		%				38.1		%				40.2		%
Dividend yield						4.3		%				2.4		%				1.7		%
Weighted average grant date fair value per share						$	3.67					$	9.82					$	11.74

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