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CAPITAL STOCK (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Cash Dividends Declared | Dividends were declared in 2021 and 2020 as follows:
Dividend per share |  | Date declared |  | Date of record |  | Payment date
$0.0425 |  | March 10, 2020 |  | November 16, 2020 |  | December 16, 2020
$0.0425 |  | June 25, 2020 |  | August 3, 2020 |  | August 17, 2020
$0.0425 |  | August 4, 2020 |  | November 2, 2020 |  | November 16, 2020
$0.0425 |  | November 3, 2020 |  | January 29, 2021 |  | February 12, 2021
$0.0425 |  | March 9, 2021 |  | May 3, 2021 |  | May 17, 2021
$0.0425 |  | June 24, 2021 |  | August 2, 2021 |  | August 16, 2021
$0.0425 |  | August 3, 2021 |  | November 1, 2021 |  | November 15, 2021
$0.0425 |  | November 2, 2021 |  | January 31, 2022 |  | February 14, 2022
Summary of Stock Option Activity and Related Information | A summary of the Company’s stock option activity and related information for the three years ended December 31, 2021, is as follows:
| Options |  | Weighted- average exercise price |  | Weighted- average remaining contractual life (years) |  | Aggregate intrinsic value (in thousands)
Options outstanding at December 31, 2018 | 1,548,825 |  |  | $ | 13.87 |  |  |  |  |
Grants | 296,500 |  |  | 9.21 |  |  |  |  |
Exercises | (75,000) |  |  | 4.28 |  |  |  |  |
Cancellations | (19,625) |  |  | 12.94 |  |  |  |  |
Expirations | (242,375) |  |  | 13.95 |  |  |  |  |
Options outstanding at December 31, 2019 | 1,508,325 |  |  | 13.43 |  |  |  |  |
Grants | 37,500 |  |  | 6.36 |  |  |  |  |
Exercises | (2,500) |  |  | 10.79 |  |  |  |  |
Cancellations | (14,313) |  |  | 11.09 |  |  |  |  |
Expirations | (242,112) |  |  | 13.27 |  |  |  |  |
Options outstanding at December 31, 2020 | 1,286,900 |  |  | 13.28 |  |  |  |  |
Grants | 48,000 |  |  | 14.18 |  |  |  |  |
Exercises (1) | (236,325) |  |  | 11.71 |  |  |  |  |
Expirations | (4,000) |  |  | 19.10 |  |  |  |  |
Options outstanding at December 31, 2021 | 1,094,575 |  |  | 13.64 |  |  | 4.9 |  | $ | 3,386 |
Options exercisable at December 31, 2021 | 911,115 |  |  | $ | 14.31 |  |  | 4.2 |  | $ | 2,345 |
Fair Value Stock Options at Grant Date using Weighted Average Assumption | The fair values for these stock options were estimated at the dates of grant using the following weighted-average assumptions:
| 2021 |  | 2020 |  | 2019
Historical volatility | 52 | % |  | 49 | % |  | 35 | %
Expected term (years) | 6.3 |  | 6.3 |  | 6.0
Risk-free interest rate | 1.08 | % |  | 0.45 | % |  | 1.82 | %
Expected dividend yield | 1.20 | % |  | 2.67 | % |  | 1.80 | %
Summary of Restricted Stock Activity | A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2021 is as follows:
| Restricted Shares |  | Weighted- average grant date fair value
Non-vested restricted shares, December 31, 2018 | 326,545 |  |  | $ | 14.63 |
Grants | 439,747 |  |  | 9.25 |
Vested | (148,414) |  |  | 14.54 |
Cancellations | (24,537) |  |  | 13.97 |
Non-vested restricted shares, December 31, 2019 | 593,341 |  |  | 10.70 |
Grants | 534,940 |  |  | 5.94 |
Vested | (322,398) |  |  | 10.64 |
Cancellations | (10,296) |  |  | 9.06 |
Non-vested restricted shares, December 31, 2020 | 795,587 |  |  | 7.54 |
Grants | 220,658 |  |  | 14.27 |
Vested | (586,244) |  |  | 7.19 |
Cancellations | (400) |  |  | 11.42 |
Non-vested restricted shares, December 31, 2021 | 429,601 |  |  | $ | 11.47 |
Total unrecognized compensation expense remaining (in thousands) | $ | 3,678 |  |  |
Weighted-average years expected to be recognized over | 1.6 |  |
Summary of Performance-based Award Activity | A summary of the Company’s performance-based award activity and related information for the three years ended December 31, 2021 is as follows:
| Performance - based awards (1) |  | Weighted- average grant date fair value
Non-vested performance-based awards, December 31, 2018 | 339,287 |  |  | $ | 14.82 |
Grants | 158,525 |  |  | 9.19 |
Vested | (66,761) |  |  | 15.69 |
Cancellations | (25,992) |  |  | 15.44 |
Non-vested performance-based awards, December 31, 2019 | 405,059 |  |  | 12.43 |
Grants | 106,275 |  |  | 6.36 |
Vested | (62,215) |  |  | 18.45 |
Cancellations | (18,073) |  |  | 15.49 |
Non-vested performance-based awards, December 31, 2020 | 431,046 |  |  | 9.94 |
Grants | 176,915 |  |  | 14.18 |
Vested | (150,273) |  |  | 12.79 |
Cancellations | (21,358) |  |  | 12.76 |
Non-vested performance-based awards, December 31, 2021 | 436,330 |  |  | $ | 10.54 |
Total unrecognized compensation expense remaining (in thousands) | $ | 2,415 |  |  |
Weighted-average years expected to be recognized over | 1.9 |  |
(1)Represents the target number of shares to be issued for each performance-based award.
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The Company recorded stock compensation expense as follows (in thousands):
| Year Ended December 31,
Stock Compensation Expense Components | 2021 |  | 2020 |  | 2019
Equity based stock option expense | $ | 417 |  |  | $ | 570 |  |  | $ | 617 |
Restricted and performance-based stock awards expense | 4,787 |  |  | 5,346 |  |  | 4,404 |
Stock compensation expense for equity based awards | $ | 5,204 |  |  | $ | 5,916 |  |  | $ | 5,021 |
Liability based stock option expense | 13 |  |  | 35 |  |  | 20 |
Total Stock Compensation Expense | $ | 5,217 |  |  | $ | 5,951 |  |  | $ | 5,041 |

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