Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Activity in Stock Award Plans

The activity in the Stock Plan is displayed in the following table:

	Year Ended	From Inception to
Authorized Shares Available for Future Award Grants	December 31, 2022	December 31, 2022
Beginning balance	1,317,819	1,900,000
Additional shares authorized	—	2,150,000
Number of awards granted	(171,385)	(3,622,141)
Number of awards forfeited or expired	195,685	914,260
Ending balance	1,342,119	1,342,119
Number of option awards exercised	51,363	1,533,336
Number of unrestricted stock awards granted	—	10,090
Number of restricted stock awards vested	49,984	267,845

The activity in the Director Stock Plan is displayed in the following table:

	Year Ended	From Inception to
Authorized Shares Available for Future Award Grants	December 31, 2022	December 31, 2022
Beginning balance	144,352	300,000
Additional authorization	—	150,000
Number of awards granted	(22,860)	(355,238)
Number of awards forfeited or expired	1,905	28,635
Ending balance	123,397	123,397
Number of option awards exercised	8,580	150,581
Number of restricted stock awards vested	18,510	117,001

Schedule of Recognition of Stock-Based Compensation Expense

We expect this compensation to be recognized in subsequent years according to the following table, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated.

2023	1,871
2024	1,031
2025	188
2026	—
Total	$	3,090

Schedule of Analysis of Award Activity

The analysis below details the option award activity for 2022 and the awards outstanding at December 31, 2022, for both of our plans and ad hoc options, which were granted prior to the adoption of the other plans:

Options	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Life (in years)	Aggregate Intrinsic Value
Outstanding at January 1, 2022	862,688	$	36.71
Granted	62,782	29.51
Exercised	(59,943)	26.48
Cancelled/Forfeited	(52,906)	39.22
Expired	(36,283)	42.60
Outstanding at December 31, 2022	776,338	$	36.47	3.06	$	104
Exercisable at December 31, 2022	695,341	$	37.02	2.41	$	103

Schedule of Restricted Stock Award Activity

The analysis below details the award activity for the restricted stock and restricted stock unit awards outstanding at December 31, 2022:

Restricted stock awards	Shares	Weighted-Average Grant Date Fair Value
Non-vested at January 1, 2022	202,819	$	36.92
Granted	131,463	29.96
Vested	(108,401)	35.22
Forfeited	(68,494)	40.87
Non-vested at December 31, 2022	157,387	$	30.56

Schedule of Weighted-average Grant-Date Fair Value Assumptions

The weighted-average grant-date fair value of the options granted under our plans has been estimated using the Black-Scholes option pricing model with the following weighted-average assumptions:

December 31,	2022			2021			2020
Risk-free interest rate	2.18		%	0.98		%	1.4		%
Expected volatility	40.56		%	56.49		%	22.26		%
Expected option life (in years)	7			7			7
Expected dividends (in dollars)	$	0.61		$	0.60		$	1.32
Weighted-average grant-date fair value of options granted during the year (in dollars)	$	10.49		$	13.48		$	6.96

Summary of Stock Options Outstanding and Exercisable

The following table summarizes information regarding the stock options outstanding and exercisable at December 31, 2022:

			Options Outstanding				Options Exercisable
Range of Exercise Prices			Number Outstanding (in shares)	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price		Number Exercisable (in shares)	Weighted-Average Exercise Price
$	23.96	29.28	190,485	1.88	$	28.23	188,703	$	28.25
29.29		29.59	112,002	6.55	29.47		44,667	29.45
29.60		40.61	187,133	1.88	35.41		187,133	35.41
40.62		44.88	154,093	2.71	42.84		154,093	42.84
44.89		54.26	132,625	3.89	48.28		120,745	48.61
$	23.96	54.26	776,338	3.06	$	36.47	695,341	$	37.02