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Stock-Based Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of the Assumption Used in Determining the Fair Value of Stock Options A summary of the assumptions used in determining the fair value of stock options follows:
Six months ended June 30, 2020
Expected volatility27 %
Expected option life in years6.25
Expected dividend yield0.08 %
Risk-free interest rate1.25 %
Weighted-average fair value of stock options$3.81  
Summary of Stock Option Activity A summary of stock option activity follows:
OptionsWeighted-average exercise price per optionWeighted-average remaining contractual life in years
Aggregate intrinsic value (1)
Outstanding at January 1, 2020—  $—  —  $—  
Granted6,754,305  11.649.65—  
Exercised—  —  —  —  
Forfeited and canceled—  —  —  —  
Outstanding at June 30, 2020
6,754,305  11.649.65$13.0  

(1)The aggregate intrinsic value in the table above represents the difference between the Company's most recent valuation and the exercise price of each in-the-money option on the last day of the period presented.
Summary of RSU Activity A summary of the RSU activity through June 30, 2020 follows:
Restricted stock unitsWeighted-average fair value per unit
Outstanding at January 1, 2020—  $—  
Granted2,102,604  8.51
Exercised—  —  
Forfeited and canceled(8,823) 8.50
Outstanding at June 30, 2020
2,093,781  8.51