Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of the Status of the Company's Restricted Stock Shares

A summary of the status of the Company’s restricted stock shares (restricted stock awards and restricted stock unit awards) as of December 31, 2020 and changes during the year ended December 31, 2020 is presented below:

	Number of Shares	Weighted-Average Grant Date Fair Value ($)
Outstanding at December 31, 2019	332,966	49.84
Granted	222,401	35.48
Vested	(146,096)	50.31
Forfeited	(8,795)	47.86
Outstanding at December 31, 2020	400,476	41.74

Multiple Input Variables of Performance Share Awards

The inputs utilized for the performance share awards based on total shareholder return are as follows:

	Weighted-Average at Grant Date for Twelve Months Ended December 31, 2020		Weighted-Average at Grant Date for Twelve Months Ended December 31, 2019
Expected volatility factor	0.40		0.38
Risk free interest rate	1.58	%	2.50	%
Expected term (in years)	2.96		2.97
Expected dividend yield	—	%	—	%

Performance Share Award Activity

The following table summarizes the Company’s market condition performance share awards for the year ended December 31, 2020:

	Number of Awards	Weighted-Average Fair Value at Grant Date ($)
Outstanding at December 31, 2019	96,159	61.58
Granted	36,328	47.43
Vested	(47,240)	52.07
Forfeited	(336)	47.43
Outstanding at December 31, 2020	84,911	60.88

The following table summarizes the Company’s performance condition performance share awards for the year ended December 31, 2020:

	Number of Awards	Weighted-Average Fair Value at Grant Date ($)
Outstanding at December 31, 2019	47,794	53.24
Granted	72,593	40.11
Vested	(23,620)	46.21
Forfeited	(669)	40.11
Outstanding at December 31, 2020	96,098	45.14