Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of changes in the Company's stock option awards

The Company has outstanding stock options assumed from acquisitions. A summary of the status of, and changes in, the Company's stock option awards for the nine months ended September 30, 2022, follows:

	Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life
Options outstanding at December 31, 2021	31,386	$	23.53	4.88
Expired	(440)	23.53
Options outstanding at September 30, 2022	30,946	$	23.53	4.13
Options exercisable at September 30, 2022	30,946	$	23.53	4.13

Summary of changes in the Company's RSU, PSU, and DSU awards

A summary of changes in the Company’s RSU, PSU, and DSU awards for the nine months ended September 30, 2022, is as follows:

	RSU Awards			PSU Awards			DSU Awards
	Shares	Weighted- Average Grant Date Fair Value		Shares1	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value
Nonvested at December 31, 2021	1,147,927	$	23.97	113,915	$	22.86	34,135	$	24.59
Granted	156,483	25.79		195,240	26.14		32,658	25.79
Dividend equivalents earned	33,690	24.56		—	—		4,156	24.47
Vested	(152,992)	28.93		—	—		(40,140)	24.67
Forfeited	(35,172)	23.51		(4,556)	24.86		—	—
Nonvested at September 30, 2022	1,149,936	$	23.59	304,599	$	24.93	30,809	$	25.75
Vested and outstanding at September 30, 2022							116,285	$	22.82

1.Shares for PSU awards represent target shares at grant date.

Schedule of Stock-based compensation expense

The Company recognized compensation expense related to nonvested RSU, PSU, and DSU awards, as well as the 2021 ESPP, as summarized in the table below (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Stock-based compensation expense
RSU awards	$	1,072	$	1,316	$	3,521	$	4,362
PSU awards1	1,172		290		2,342		619
DSU awards	196		231		679		741
2021 ESPP	36		54		179		54
Total stock-based compensation expense	$	2,476	$	1,891	$	6,721	$	5,776

1.Expense for market-based PSU awards represents amounts based on target shares at grant date. Expense for performance-based PSU awards represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.

Schedule of Unamortized stock-based compensation expense

Unamortized compensation expense related to nonvested RSU, PSU, and DSU awards is summarized in the table below (dollars in thousands):

	As of
	September 30, 2022		December 31, 2021
Unamortized stock-based compensation
RSU awards	$	9,966	$	10,204
PSU awards1	5,279		1,547
DSU awards	371		209
Total unamortized stock-based compensation	$	15,616	$	11,960
Weighted average period over which expense is to be recognized	2.6 yrs		2.9 yrs

1.Unamortized expense for market-based PSU awards represents amounts based on target shares at grant date. Unamortized expense for performance-based PSU awards represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.

Schedule of shares remaining available for issuance pursuant to authorized plans

Shares remaining available for issuance pursuant to authorized stock-based compensation plans were as follows as of September 30, 2022:

Plan	Shares Remaining Available for Issuance Pursuant to the Plan
2020 Equity Plan	645,563
2021 Employee Stock Purchase Plan	519,577