Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2021 |
| Share-based Payment Arrangement [Abstract] |
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| Schedule of Total Stock-Based Compensation Expense by Type of Award |
Total stock-based compensation expense by type of award was as follows for the years ended December 31: | | | | | | | | | | | | | | | | | | | In Thousands | 2021 | | 2020 | | 2019 | | Stock options | $ | 435 | | | $ | 561 | | | $ | 635 | | | Stock appreciation rights (“SARs”) | 22,188 | | | 3,377 | | | 2,906 | | | Restricted Stock Awards | 1,005 | | | 1,101 | | | 907 | | | Restricted Stock Units | 1,889 | | | — | | | — | | | Stock grants | 489 | | | 244 | | | $ | 269 | | | Total stock-based compensation expense | $ | 26,006 | | | $ | 5,283 | | | $ | 4,717 | |
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| Schedule of Stock Option Activity |
The following presents a summary of stock option activity for the year ended December 31, 2021: | | | | | | | | | | | | | | | | | | | | | | | | | Number of Shares | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term | | Aggregate Intrinsic Value (In Thousands) | | Outstanding at January 1, 2021 | 314,500 | | | $ | 41.82 | | | | | | | | | | | | | | | Exercised | (35,000) | | | 30.95 | | | | | | | Forfeited/Canceled | — | | | — | | | | | | | Outstanding at December 31, 2021 | 279,500 | | | $ | 43.18 | | | 4.5 years | | $ | 27,928 | | | Vested and exercisable at December 31, 2021 | 232,500 | | | $ | 42.06 | | | 4.3 years | | $ | 23,493 | |
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| Schedule of Stock Appreciation Rights Activity |
The following presents a summary of SARs activity for the year ended December 31, 2021: | | | | | | | | | | | | | | | | | | | | | | | | | Cash-settled SARs | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term | | Aggregate Intrinsic Value (In Thousands) | | Outstanding at January 1, 2021 | 679,500 | | | $ | 51.99 | | | | | | | | | | | | | | | Exercised | (205,832) | | | 48.41 | | | | | | | Forfeited/Canceled | (6,000) | | | 53.01 | | | | | | | Outstanding at December 31, 2021 | 467,668 | | | $ | 53.55 | | | 7.1 years | | $ | 41,880 | | | Vested and exercisable at December 31, 2021 | 89,968 | | | $ | 50.85 | | | 6.5 years | | $ | 8,300 | |
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| Schedule of Stock Appreciation Rights Valuation Assumptions |
The fair value of SARs outstanding during the years ended December 31, 2021, 2020 and 2019, are revalued each quarter using a Black-Scholes option pricing model and the following weighted average assumptions: | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2021 | | 2020 | | 2019 | | Risk-free interest rate | 0.70 | % | | 0.18 | % | | 1.62 | % | | Expected dividend yield | 0.06 | % | | 0.13 | % | | 0.14 | % | | Expected volatility | 38.64 | % | | 35.51 | % | | 28.46 | % | | Expected lives | 2.1 years | | 2.8 years | | 3.0 years |
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| Schedule of Restricted Stock and Restricted Stock Unit Activity |
The following presents a summary of restricted stock activity for the year ended December 31, 2021: | | | | | | | | | | | Weighted Average | | Number of Shares | Grant Date Fair Value | | Outstanding at January 1, 2021 | 75,000 | | $ | 56.77 | | | Granted | — | | — | | | Vested | (17,000) | | 56.61 | | | | | | Unvested at December 31, 2021 | $ | 58,000 | | $ | 56.88 | | The following presents a summary of restricted stock activity for the year ended December 31, 2021: | | | | | | | | | | | Weighted Average | | Number of Shares | Grant Date Fair Value | | Outstanding at January 1, 2021 | — | | $ | — | | | Granted | 98,600 | | 61.92 | | | Vested | — | | — | | | Forfeited/Canceled | — | | — | | | Unvested at December 31, 2021 | 98,600 | | $ | 61.92 | |
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