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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021 (in thousands, except per share data):
|  | For the Year Ended December 31, 2021
|  | Stock Options |  |  |  | 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 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)
2009 Omnibus Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2020 |  | 3,102 |  |  | $ | 23.74 |  |  |  |  |  |  |  |  |  |  | 66 |  |  | $ | 32.59 |  |  | 277 |  |  | $ | 15.97 |
Granted |  | 375 |  |  | 14.75 |  |  |  |  |  |  |  |  |  |  | 100 |  |  | 14.68 |  |  | 25 |  |  | 15.76 |
Forfeited |  | (103) |  |  | 16.82 |  |  |  |  |  |  |  |  |  |  | (54) |  |  | 16.48 |  |  | (15) |  |  | 16.74 |
Exercised |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  | n/a |  | n/a |  | n/a |  | n/a
Vested |  | n/a |  | n/a |  |  |  |  |  |  |  |  |  | (62) |  |  | 27.68 |  |  | (207) |  |  | 15.56 |
Expired |  | (554) |  |  | 20.38 |  |  |  |  |  |  |  |  |  |  | n/a |  | n/a |  | n/a |  | n/a
Outstanding as of December 31, 2021 |  | 2,820 |  |  | $ | 23.46 |  |  | $ | 1,077 |  |  | 6.82 |  |  |  |  |  | 50 |  |  | $ | 20.17 |  |  | 80 |  |  | $ | 16.84 |
Exercisable as of December 31, 2021 |  | 1,749 |  |  | $ | 26.76 |  |  | $ | 78 |  |  | 5.76 |  |  |  |  |  |  |  |  |  |  |  |
2021 Omnibus Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2020 |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Granted |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 214 |  | 16.91
Forfeited |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  | n/a |  | n/a |  | n/a |  | n/a
Vested |  | n/a |  | n/a |  |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Expired |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  | n/a |  | n/a |  | n/a |  | n/a
Outstanding as of December 31, 2021 |  | — |  |  | $ | — |  |  | $ | — |  |  | — |  |  |  |  |  |  | — |  |  | $ | — |  |  | 214 |  |  | $ | 16.91 |
Exercisable as of December 31, 2021 |  | — |  |  | $ | — |  |  | $ | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
(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, 2021, 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,
|  | 2021 |  | 2020 |  | 2019
Compensation expense: |  |  |  |  |  |
Stock options |  | $ | 2,390 |  |  | $ | 4,519 |  |  | $ | 6,516 |
Restricted stock |  | — |  |  | 514 |  |  | 3,104 |
Performance share units |  | 671 |  |  | 945 |  |  | 2,508 |
Restricted stock units |  | 2,754 |  |  | 2,717 |  |  | 880 |
Total |  | $ | 5,815 |  |  | $ | 8,695 |  |  | $ | 13,008 |
Deferred tax benefits: |  |  |  |  |  |
Stock options |  | $ | 226 |  |  | $ | 719 |  |  | $ | 1,522 |
Restricted stock |  | — |  |  | — |  |  | 47 |
Performance share units |  | — |  |  | 52 |  |  | 185 |
Restricted stock units |  | 606 |  |  | 106 |  |  | — |
Total |  | $ | 832 |  |  | $ | 877 |  |  | $ | 1,754 |
Realized tax benefits: |  |  |  |  |  |
Stock options |  | $ | — |  |  | $ | — |  |  | $ | 577 |
Restricted stock |  | — |  |  | — |  |  | 37 |
Performance share units |  | 64 |  |  | 275 |  |  | 1,163 |
Restricted stock units |  | 590 |  |  | — |  |  | — |
Total |  | $ | 654 |  |  | $ | 275 |  |  | $ | 1,777 |
Excess tax benefits (shortfall): |  |  |  |  |  |
Stock options |  | $ | (600) |  |  | $ | (209) |  |  | $ | 415 |
Restricted stock |  | — |  |  | — |  |  | (18) |
Performance share units |  | (76) |  |  | (28) |  |  | 244 |
Restricted stock units |  | 15 |  |  | — |  |  | — |
Total |  | $ | (661) |  |  | $ | (237) |  |  | $ | 641 |
Weighted average fair value per option or share: |  |  |  |  |  |
Stock option grants |  | $ | 2.66 |  |  | $ | 3.67 |  |  | $ | 9.82 |
Restricted stock grants |  | $ | — |  |  | $ | — |  |  | $ | 30.73 |
Performance share unit grants |  | $ | 14.68 |  |  | $ | — |  |  | $ | 33.47 |
Restricted stock unit grants |  | $ | 16.79 |  |  | $ | 16.13 |  |  | $ | 26.47 |
Intrinsic value of options exercised |  | $ | — |  |  | $ | — |  |  | $ | 2,343 |
Fair value of restricted stock vested |  | $ | — |  |  | $ | 252 |  |  | $ | 2,783 |
Fair value of performance share units vested |  | $ | 925 |  |  | $ | 2,151 |  |  | $ | 5,520 |
Fair value of restricted stock units vested |  | $ | 3,212 |  |  | $ | 1,559 |  |  | $ | 657 |
Cash received for strike price and tax withholdings |  | $ | 84 |  |  | $ | — |  |  | $ | 238 |
Shares acquired through cashless exercise (1) |  | 69 |  |  | 64 |  |  | 186 |
Value of shares acquired through cashless exercise (1) |  | $ | 1,056 |  |  | $ | 1,315 |  |  | $ | 6,133 |
(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, 2021
|  | Stock Options |  |  |  | Performance Share Units |  | Restricted Stock Units
Unrecognized expense |  | $ | 2,464 |  |  |  |  | $ | 197 |  |  | $ | 4,243 |
Weighted average remaining years |  | 1.52 |  |  |  | 0.71 |  | 2.68
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,
|  | 2021 |  | 2020 |  | 2019
Weighted-average risk-free interest rate |  | 0.86 | % |  | 0.49 | % |  | 2.44 | %
Expected term of option in years |  | 6.00 |  | 6.00 |  | 6.00
Weighted-average volatility |  | 34.8 | % |  | 35.8 | % |  | 38.1 | %
Dividend yield |  | 5.2 | % |  | 4.3 | % |  | 2.4 | %
Weighted-average grant date fair value per share |  | $ | 2.66 |  |  | $ | 3.67 |  |  | $ | 9.82 |

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