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Share-Based Compensation (Tables)

12 Months Ended

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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