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Stock-Based Compensation Plans
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans Stock-Based Compensation Plans:
We have issued and outstanding awards under two employee compensation plans, the 2021 Long-Term Incentive Plan (the “2021 LTIP Plan”) and the 2014 Long Term Incentive Plan (the “2014 LTIP Plan”). No new awards may be granted under the 2014 LTIP Plan. Grants of stock-settled appreciation rights, restricted units, and performance units have been made to certain officers and key employees. All equity awards are settled in shares of Common Stock. As of December 31, 2023, approximately 1,003,000 shares were available for awards under the 2021 LTIP Plan.
The following table summarizes our equity award activity during the years ended December 31, 2023, 2022, and 2021:
Service-Based
Restricted Stock Awards		Performance-Based
Restricted Stock Awards
Shares or Units (#) Weighted-Average
Award Price($)		Shares or Units(#) Weighted-Average
Award Price ($)
Outstanding at December 31, 2020
239,281 20.77 213,895 21.08 
Granted120,221 33.29 93,685 32.83 
Awards vested or rights exercised(130,323)21.28 (56,578)22.95 
Forfeited(10,097)25.85 — — 
Units forfeited due to performance— — 77,265 20.42 
Outstanding at December 31, 2021
219,082 27.10 328,267 23.96 
Granted155,681 28.88 103,104 28.86 
Awards vested or rights exercised(122,680)27.13 (34,940)20.28 
Forfeited(14,781)28.55 (19,033)26.12 
Additional units earned due to performance— — 59,249 32.83 
Outstanding at December 31, 2022
237,302 28.16 436,647 26.56 
Granted177,098 33.02 106,557 33.08 
Awards vested or rights exercised(147,930)27.12 (190,700)20.50 
Forfeited(16,535)30.93 (3,070)32.75 
Additional units earned due to performance— — 3,753 28.86 
Outstanding at December 31, 2023
249,935 32.05 353,187 31.77 
Restricted units expected to vest249,935 32.05 328,573 31.67 
The total fair value of service-based restricted stock awards that vested in 2023, 2022 and 2021 was approximately $3,789,000, $3,338,000 and $6,069,000, respectively. The aggregate intrinsic value of outstanding restricted stock awards was $8,873,000 at December 31, 2023. The restrictions on the service-based awards generally lapse or vest annually, primarily over one-year or three-year periods.
The total fair value of performance-based restricted stock awards that vested in 2023, 2022 and 2021 was approximately $7,182,000, $993,000 and $2,046,000, respectively. The aggregate intrinsic value of outstanding performance awards at December 31, 2023 expected to vest was $11,664,000. The performance awards are based on one-year performance periods but cliff vest in approximately three years from grant date.
The compensation for all awards is being charged to selling, general and administrative expense over the respective grants’ vesting periods, primarily on a straight-line basis, and was approximately $8,010,000, $7,195,000 and $8,213,000 in 2023, 2022 and 2021, respectively. Forfeitures are recognized as they occur. The tax (benefit) recognized related to all awards was approximately $(766,000), $(73,000) and $(1,011,000) in 2023, 2022 and 2021, respectively. As of December 31, 2023, the total compensation cost related to unvested equity awards was approximately $6,130,000 and is expected to be recognized over a weighted-average period of 1.7 years