Stock-based Compensation

6 Months Ended

Jun. 30, 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 June 30, 2024, the Company had approximately 1,020,019 shares available for grant under the 2018 A&R Omnibus Plan.

The following awards were granted during the three and six months ended June 30, 2024 and 2023:


	Awards Granted				Average Grant Date Fair Value				Awards Granted				Average Grant Date Fair Value
	Three Months Ended				Three Months Ended				Six Months Ended				Six Months Ended
	June 30,				June 30,				June 30,				June 30,
	2024		2023		2024		2023		2024		2023		2024		2023
Employee Stock Awards		129		115	$	150.60	$	114.52		110,883		113,569	$	156.18	$	110.02
Cash-Settled RSUs		494		18,853	$	150.60	$	114.52		34,558		66,464	$	152.56	$	109.33
Total		623		18,968						145,441		180,033

The total stock-based compensation expense was $6.8 million and $12.7 million for the three and six months ended June 30, 2024, respectively, and $4.9 million and $10.8 million for the three and six months ended June 30, 2023, respectively. The unrecognized compensation expense at June 30, 2024 was $38.5 million, which is expected to vest over the next 1.7 years.