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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Valuation Assumptions of Stock Options and Market-based Restricted Stock Awards Granted
The following table presents the effects of share-based compensation expense in the Consolidated Statements of Operations during the periods presented (in thousands):
Year ended December 31,
202320222021
Direct costs
$262 $341 $306 
Sales and marketing2,686 3,083 1,288 
Research, development, and engineering3,245 2,503 1,984 
General, administrative, and other related costs
25,727 20,674 20,551 
Total share-based compensation expense$31,920 $26,601 $24,129 
Stock Options Activity
Stock option activity for the years ended December 31, 2023, 2022, and 2021 is summarized as follows:
Number of Shares
Weighted-Average
Exercise Price
Weighted-Average Remaining Contractual Life (In Years)
  Aggregate Intrinsic Value
Options outstanding at January 1, 2021
475,601 $69.61 
      Granted— — 
      Exercised(70,776)41.63 
      Canceled— — 
Adjustment due to Consensus Separation (1)
35,749 $68.25 
Options outstanding at December 31, 2021
440,574 $68.45 
      Granted— — 
      Exercised(5,439)27.15 
      Canceled— — 
Options outstanding at December 31, 2022
435,135 $68.97 
      Granted— $— 
      Exercised— $— 
      Canceled— $— 
Options outstanding at December 31, 2023
435,135 $68.97 4.0$— 
Exercisable at December 31, 2023
271,959 $68.97 4.0$— 
Vested and expected to vest at December 31, 2023
144,040 $68.97 4.0$— 
(1)As noted above, in connection with the Consensus separation and pursuant to the anti-dilution provisions of the 2015 Plan, the number of shares underlying each stock option outstanding as of the date of the Separation was multiplied by a factor of approximately 1.09 and the related exercise price for the stock options was divided by a factor of approximately 1.09, which was intended to preserve the intrinsic value of the awards prior to the Separation.
Valuation Assumptions of Market-based Restricted Stock Awards Granted
The weighted-average fair values of market-based restricted stock units granted have been estimated utilizing the following assumptions:
December 31,
202320222021
Underlying stock price at valuation date$77.8 $99.32 $113.27 
Expected volatility32.0 %36.7 %30.3 %
Risk-free interest rate4.1 %1.8 %1.3 %
Restricted Stock and Restricted Stock Unit Award Activity Restricted stock award activity for the years ended December 31, 2023, 2022 and 2021 is set forth below:
SharesWeighted-Average
Grant-Date
Fair Value
Nonvested at January 1, 2021
820,566 $62.66 
Granted— — 
Vested(435,529)60.52 
Canceled(33,194)83.23 
Adjustment due to Consensus Separation (1)
32,120 74.62 
Nonvested at December 31, 2021
383,963 $62.66 
Granted— — 
Vested(67,762)80.64 
Canceled(4,920)84.77 
Nonvested at December 31, 2022
311,281 $59.90 
Granted— — 
Vested(52,060)72.29 
Canceled(322)77.75 
Nonvested at December 31, 2023
258,899 $48.76 
(1)As noted above, in connection with the Consensus separation and pursuant to the anti-dilution provisions of the 2015 Plan, the number of shares underlying each restricted stock award outstanding as of the date of the Separation was multiplied by a factor of approximately 1.09 and the market condition stock price target for marked-based restricted stock awards was also adjusted.
Restricted stock unit activity for the years ended December 31, 2023, 2022 and 2021 is set forth below:
Number of
Shares		Aggregate
Intrinsic
Value
Outstanding at January 1, 2021
209,784 
Granted319,345 
Vested(124,761)
Canceled(60,201)
Adjustment due to Consensus Separation (1)
16,576 
Outstanding at December 31, 2021
360,743 
Granted254,215 
Vested(115,523)
Canceled(35,081)
Outstanding at December 31, 2022
464,354  
Granted473,155  
Vested(111,185) 
Canceled(49,127) 
Outstanding at December 31, 2023777,197 $52,219,866 
Vested and expected to vest at December 31, 2023721,572 $48,482,422 
(1)As noted above, in connection with the Consensus separation and pursuant to the anti-dilution provisions of the 2015 Plan, the number of shares underlying each restricted stock unit outstanding as of the date of the Separation was multiplied by a factor of approximately 1.09 and the market condition stock price target for marked-based restricted stock units was also adjusted.
Valuation Assumptions of Stock Options Granted
The share-based compensation expense related to the Purchase Plan has been estimated utilizing the following weighted average assumptions:
December 31,
202320222021
Risk-free interest rate3.35%1.17%0.05%
Expected term (in years)0.50.50.5
Expected volatility38.3%40.7%35.0%