Stock-based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

NOTE 10 – STOCK-BASED COMPENSATION

The Company’s 2018 Amended and Restated Omnibus Incentive Plan (the “2018 A&R Omnibus Plan”) allows the Company to grant up to 2,050,000 total shares of common stock to officers, key employees, and non-employee directors. As of March 31, 2024, the Company had approximately 1,012,241 shares available for grant under the 2018 A&R Omnibus Plan.

The following awards were granted during the three months ended March 31, 2024 and 2023:


	Awards Granted				Average Grant Date Fair Value
	Three Months Ended				Three Months Ended
	March 31,				March 31,
	2024		2023		2024		2023
Employee Stock Awards		110,754		113,454	$	156.16	$	110.01
Cash-Settled Restricted Stock Units		34,064		47,611	$	152.59	$	107.28
Total		144,818		161,065

The total stock-based compensation expense was $5.9 million for each of the three months ended March 31, 2024 and 2023, and the unrecognized compensation expense at March 31, 2024 was $43.3 million, which is expected to vest over the next 2.0 years.