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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Company's Stock Option Plan Activity

A summary of the stock option activity for the three and six months ended June 30, 2022 and 2021 is as follows (option amounts not in thousands):

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

Intrinsic

 

 

 

Options

 

 

Price

 

 

Term

 

Value

 

Outstanding at January 1, 2022

 

 

440,000

 

 

$

45.25

 

 

6.6 years

 

$

18,119

 

Outstanding at March 31, 2022

 

 

440,000

 

 

$

45.25

 

 

6.3 years

 

$

10,494

 

Outstanding at June 30, 2022

 

 

440,000

 

 

$

45.25

 

 

6.1 years

 

$

9,354

 

Exercisable at June 30, 2022

 

 

357,500

 

 

$

44.23

 

 

5.8 years

 

$

7,965

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2021

 

 

440,000

 

 

$

45.25

 

 

7.6 years

 

$

3,113

 

Outstanding at March 31, 2021

 

 

440,000

 

 

$

45.25

 

 

7.3 years

 

$

13,464

 

Outstanding at June 30, 2021

 

 

440,000

 

 

$

45.25

 

 

7.1 years

 

$

23,883

 

Exercisable at June 30, 2021

 

 

275,000

 

 

$

43.40

 

 

6.6 years

 

$

15,436

 

Information with Respect to Unvested Restricted Stock Awards Stock Option and Incentive Plan

Information with respect to the activity of unvested restricted stock awards during the three and six months ended June 30, 2022 and 2021 is as follows:

 

 

 

Number of

 

 

Weighted

 

 

 

Restricted

 

 

Average

 

 

 

Stock

 

 

Grant Date

 

 

 

Awards

 

 

Fair Value

 

Nonvested at January 1, 2022

 

 

679,997

 

 

$

39.72

 

Granted

 

 

4,000

 

 

$

70.58

 

Vested

 

 

(50,667

)

 

$

50.68

 

Forfeited

 

 

(3,265

)

 

$

45.85

 

Nonvested at March 31, 2022

 

 

630,065

 

 

$

39.00

 

Granted

 

 

3,000

 

 

$

67.30

 

Vested

 

 

(51,125

)

 

$

45.04

 

Forfeited

 

 

(700

)

 

$

45.61

 

Nonvested at June 30, 2022

 

 

581,240

 

 

$

38.61

 

 

 

 

 

 

 

 

Nonvested at January 1, 2021

 

 

423,787

 

 

$

43.79

 

Granted

 

 

548,086

 

 

$

36.95

 

Vested

 

 

(41,250

)

 

$

42.18

 

Cancelled

 

 

(141,600

)

 

$

43.76

 

Forfeited

 

 

(2,050

)

 

$

45.67

 

Nonvested at March 31, 2021

 

 

786,973

 

 

$

39.11

 

Granted

 

 

3,000

 

 

$

76.00

 

Vested

 

 

(68,541

)

 

$

43.80

 

Cancelled

 

 

(1,160

)

 

$

45.96

 

Forfeited

 

 

(9,060

)

 

$

46.44

 

Nonvested at June 30, 2021

 

 

711,212

 

 

$

38.71

 

Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three and six months ended June 30, 2022 and 2021.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Deferred tax benefits recognized

 

$

639

 

 

$

495

 

 

$

1,291

 

 

$

459

 

Tax benefits realized for restricted stock and
    paid dividends

 

$

902

 

 

$

1,357

 

 

$

1,304

 

 

$

1,412

 

Fair value of vested restricted stock

 

$

2,303

 

 

$

3,002

 

 

$

4,871

 

 

$

4,742