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Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Option Grant Fair Value Assumptions

The fair value of option grants is estimated on the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions for option grants during the periods indicated below:

 

 

Six Months Ended

June 30,

 

 

 

2021

 

 

2020

 

Expected volatility

 

 

47.83

%

 

 

44.88

%

Expected dividends

 

 

2.63

%

 

 

0.00

%

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

Risk-free rate

 

 

0.64

%

 

 

0.71

%

Summary of Company's Stock Option Plan Activity

The following table summarizes the stock option activity for the six months ended June 30, 2021:

In thousands, except per share amounts

 

Number of Shares

 

 

Weighted-Average Exercise Price

Per Share

 

 

Weighted-Average Remaining Contractual

Life (Years)

 

 

Aggregate Intrinsic Value

 

Options outstanding at January 1, 2021

 

 

908

 

 

$

19.73

 

 

 

 

 

 

 

 

 

Granted

 

 

137

 

 

 

30.44

 

 

 

 

 

 

 

 

 

Exercised

 

 

(350

)

 

 

20.51

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

(3

)

 

 

16.30

 

 

 

 

 

 

 

 

 

Options outstanding at June 30, 2021

 

 

692

 

 

$

21.48

 

 

 

6.6

 

 

$

17,345

 

Options exercisable at June 30, 2021

 

 

435

 

 

$

18.89

 

 

 

5.0

 

 

$

12,019

 

Summary of Additional Stock Option Information

The following table provides additional stock option information for the periods indicated:

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

In thousands, except per share amounts

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Weighted-average grant date fair value per share

 

$

 

 

$

 

 

$

10.52

 

 

$

7.58

 

Intrinsic value of options exercised

 

$

4,531

 

 

$

 

 

$

7,392

 

 

$

219

 

Fair value of stock options that vested

 

$

 

 

$

 

 

$

 

 

$

353

 

Summary of RSU Activity

The following table summarizes RSU activity during the six months ended June 30, 2021:

In thousands, except per unit amounts

 

Units

 

 

Weighted-Average

Grant Date

Fair Value Per Unit

 

Non-vested units at January 1, 2021

 

 

124

 

 

$

21.89

 

Granted (target)

 

 

45

 

 

 

30.22

 

Achieved performance adjustment (1)

 

 

2

 

 

 

28.25

 

Vested

 

 

(42

)

 

 

28.25

 

Forfeited

 

 

 

 

 

 

Non-vested units at June 30, 2021

 

 

129

 

 

$

22.84

 

(1)

The 2018 LTIP RSUs were earned and vested at 105.6% of target, as described in greater detail in the Company’s definitive proxy statement filed with the SEC on April 16, 2021.

Summary of Additional RSU Information

The following table provides additional RSU information for the periods indicated:

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

In thousands, except per unit amounts

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Weighted-average grant date fair value per unit

 

$

 

 

$

15.86

 

 

$

30.22

 

 

$

15.86

 

Fair value of RSUs that vested

 

$

 

 

$

 

 

$

1,199

 

 

$

1,314

 

Summary of RSA Activity

The following table summarizes RSA activity during the six months ended June 30, 2021:

In thousands, except per share amounts

 

Shares

 

 

Weighted-Average

Grant Date

Fair Value Per Share

 

Non-vested shares at January 1, 2021

 

 

266

 

 

$

19.34

 

Granted

 

 

153

 

 

 

30.33

 

Vested

 

 

(65

)

 

 

16.31

 

Forfeited

 

 

(2

)

 

 

22.82

 

Non-vested shares at June 30, 2021

 

 

352

 

 

$

24.66

 

Summary of Additional RSA Information

The following table provides additional RSA information for the periods indicated:

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

In thousands, except per share amounts

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Weighted-average grant date fair value per share

 

$

46.55

 

 

$

15.58

 

 

$

30.33

 

 

$

19.39

 

Fair value of RSAs that vested

 

$

1,012

 

 

$

819

 

 

$

1,052

 

 

$

1,121