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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Change in Restricted Stock Unit The following table summarizes information about the changes in restricted stock units for the years ended December 31, 2023, 2022 and 2021, respectively.

 

 

 

For the year ended

 

 

For the year ended

 

 

For the year ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

Balance at beginning of period

 

 

39,657

 

 

$

47.83

 

 

 

22,597

 

 

$

48.91

 

 

 

 

 

$

 

Grants

 

 

33,294

 

 

 

29.53

 

 

 

24,833

 

 

 

47.19

 

 

 

22,597

 

 

 

48.91

 

Vesting

 

 

(14,553

)

 

 

48.00

 

 

 

(7,425

)

 

 

48.91

 

 

 

 

 

 

 

Forfeited/expired

 

 

(4,581

)

 

 

41.09

 

 

 

(348

)

 

 

48.91

 

 

 

 

 

 

 

Balance at end of period

 

 

53,817

 

 

$

37.04

 

 

 

39,657

 

 

$

47.83

 

 

 

22,597

 

 

$

48.91

 

Schedule of Change in Performance Stock Units

The following table summarizes information about the changes in PSUs as of and for the years ended December 31, 2023, 2022 and 2021, respectively.

 

 

 

For the year ended

 

 

For the year ended

 

 

For the year ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Performance-Based Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Performance-Based Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Performance-Based Restricted
Stock Units
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

Balance at beginning of period

 

 

47,082

 

 

$

48.00

 

 

 

22,597

 

 

$

48.91

 

 

 

 

 

$

 

Grants

 

 

33,294

 

 

 

29.53

 

 

 

24,833

 

 

 

47.19

 

 

 

22,597

 

 

 

48.91

 

Vesting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited/expired

 

 

(5,149

)

 

 

41.95

 

 

 

(348

)

 

 

48.91

 

 

 

 

 

 

 

Balance at end of period

 

 

75,227

 

 

$

40.24

 

 

 

47,082

 

 

$

48.00

 

 

 

22,597

 

 

$

48.91

 

Schedule of Analysis of Stock Option Activity An analysis of stock option activity for the year ended December 31, 2023 is presented in the table and narrative below:

 

 

 

Shares

 

 

Weighted-
Average Ex. Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value ($000)

 

Outstanding, beginning of year

 

 

1,490,413

 

 

$

29.99

 

 

 

 

 

 

 

Granted

 

 

253,228

 

 

 

29.53

 

 

 

 

 

 

 

Exercised

 

 

(125,593

)

 

 

17.76

 

 

 

 

 

 

 

Cancelled

 

 

(65,799

)

 

 

40.79

 

 

 

 

 

 

 

Outstanding, end of year

 

 

1,552,249

 

 

 

30.45

 

 

 

5.81

 

 

$

6,814

 

Exercisable at end of year

 

 

895,121

 

 

$

25.34

 

 

 

4.04

 

 

$

6,550

 

Schedule of Information Concerning Outstanding and Vested Stock Options

The following table summarizes information concerning outstanding and vested stock options as of December 31, 2023:

 

Exercise
Price

 

 

Number
Outstanding

 

 

Remaining
Contracted
Life (Years)

 

 

Number Vested

 

$

16.95

 

 

 

214,981

 

 

 

1.8

 

 

 

214,981

 

$

21.18

 

 

 

392,477

 

 

 

3.4

 

 

 

392,477

 

$

29.70

 

 

 

293,760

 

 

 

5.5

 

 

 

167,340

 

$

34.55

 

 

 

10,200

 

 

 

6.1

 

 

 

3,900

 

$

48.91

 

 

 

180,764

 

 

 

7.6

 

 

 

72,841

 

$

47.19

 

 

 

215,043

 

 

 

8.6

 

 

 

43,582

 

$

29.53

 

 

 

245,024

 

 

 

9.6

 

 

 

 

Summary of Vested and Unvested Restricted Stock Outstanding

The following table summarizes information about vested and unvested restricted stock.

 

 

 

For the year ended

 

 

For the year ended

 

 

For the year ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Restricted
Stock
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Restricted
Stock
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Restricted
Stock
Outstanding

 

 

Weighted
Average
Grant Date
Fair Value

 

Balance at beginning of period

 

 

24,813

 

 

$

36.21

 

 

 

46,598

 

 

$

35.75

 

 

 

95,888

 

 

$

29.89

 

Grants

 

 

25,190

 

 

 

27.79

 

 

 

15,425

 

 

 

40.89

 

 

 

12,110

 

 

 

49.58

 

Vesting

 

 

(23,708

)

 

 

36.40

 

 

 

(37,010

)

 

 

37.61

 

 

 

(60,011

)

 

 

29.25

 

Forfeited/expired

 

 

(1,105

)

 

 

29.70

 

 

 

(200

)

 

 

29.70

 

 

 

(1,389

)

 

 

32.76

 

Balance at end of period

 

 

25,190

 

 

$

27.79

 

 

 

24,813

 

 

$

36.21

 

 

 

46,598

 

 

$

35.75