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Stock Options And Restricted Stock Awards (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2023 follows:

 

 

 

Options
(Amounts in
Thousands)

 

 

Weighted
Average
Exercise Price

 

 

Weighted Average Remaining Contractual Terms (Years)

 

Outstanding, beginning of period

 

 

468

 

 

$

45.72

 

 

5.2

 

Granted

 

 

 

 

 

 

 

 

 

Exercised

 

 

(13

)

 

 

24.38

 

 

 

 

Forfeited/Cancelled

 

 

 

 

 

 

 

 

 

Outstanding, end of period

 

 

455

 

 

$

46.33

 

 

4.3

 

Exercisable, end of period

 

 

415

 

 

$

42.21

 

 

 

4.0

 

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 2023. The related assumptions follow:

 

 

 

2023

 

 

2022

 

 

2021

 

 

 

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, 2023 follows:

 

 

 

Restricted
Stock
Awards
(Amounts in
Thousands)

 

 

Weighted
Average
Grant Date
Fair Value

 

Unvested restricted stock awards, beginning of period

 

 

210

 

 

$

88.22

 

Awarded

 

 

87

 

 

 

103.24

 

Vested

 

 

(95

)

 

 

89.92

 

Forfeited

 

 

(1

)

 

 

84.00

 

Unvested restricted stock awards, end of period

 

 

201

 

 

$

93.93