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Stock Options And Restricted Stock Awards (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity and Weighted Average Exercise Price

A summary of stock option activity and weighted average exercise price for the year ended December 31, 2022 follows:

 

 

 

Options
(Amounts in
Thousands)

 

 

Weighted
Average
Exercise Price

 

Outstanding, beginning of period

 

 

493

 

 

$

41.77

 

Granted

 

 

38

 

 

 

88.42

 

Exercised

 

 

(63

)

 

 

40.55

 

Forfeited/Cancelled

 

 

 

 

 

 

Outstanding, end of period

 

 

468

 

 

$

45.72

 

Weighted-Average Estimated Fair Value of Employee Stock Options Granted

The weighted-average estimated fair value of employee stock options granted was calculated using the Black-Scholes Option Pricing Model in 2022 and 2021. The Company did not grant any stock options in 2020. The related assumptions follow:

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

Grants

 

 

Grants

 

 

Grants

 

Weighted average fair value

 

$

32.96

 

 

$

32.71

 

 

$

 

Risk-free discount rate

 

1.76% - 2.86%

 

 

0.65%

 

 

 

 

Expected life

 

4.2 years

 

 

4.1 years

 

 

 

 

Dividend yield

 

 

 

 

 

 

 

 

 

Volatility

 

43%

 

 

45%

 

 

 

 

Summary of Unvested Restricted Stock Awards and Weighted Average Grant Date Fair Value

A summary of unvested restricted stock awards activity and weighted average grant date fair value for the year ended December 31, 2022 follows:

 

 

 

Restricted
Stock
Awards
(Amounts in
Thousands)

 

 

Weighted
Average
Grant Date
Fair Value

 

Unvested restricted stock awards, beginning of period

 

 

159

 

 

$

104.91

 

Awarded

 

 

130

 

 

 

71.91

 

Vested

 

 

(74

)

 

 

95.73

 

Forfeited

 

 

(5

)

 

 

85.53

 

Unvested restricted stock awards, end of period

 

 

210

 

 

$

88.22