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Stock Plans (Tables)
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Compensation Expense
Stock compensation expense is as follows:
 Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2021202020212020
Stock compensation expense$7,403 $830 $10,695 $4,352 
Income tax expense1,784 202 2,577 1,062 
Stock compensation expense, net of tax$5,619 $628 $8,118 $3,290 
Summary of Stock Option Activity
A summary of stock option activity for the six months ended June 30, 2021, follows:
SharesWeighted Average
Exercise Price
Outstanding at January 1, 2021283,998 $46.23 
Exercised(47,538)45.42 
Forfeited(81)49.66 
Outstanding at June 30, 2021236,379 46.40 
Exercisable at June 30, 2021235,399 $46.39 
Summary of Restricted Stock and Unit Activity A summary of restricted stock activity for the six months ended June 30, 2021, follows:
SharesWeighted Average
Grant Date Fair Value
Unvested at January 1, 2021146,191 $105.83 
Granted35,686 169.54 
Vested(51,753)92.84 
Forfeited(1,035)139.08 
Unvested at June 30, 2021129,089 $128.39 
Schedule of Fair Value Assumptions for Units The following weighted average assumptions were used in estimating the fair value of the performance stock units granted in the first quarter of 2021.
Fair value per unit$177.50
Risk-free interest rate0.2%
Expected dividend yield1.33%
Expected volatility35.6%
MSA stock beta0.932
Summary of Performance Stock Unit Activity
A summary of performance stock unit activity for the six months ended June 30, 2021, follows:
SharesWeighted Average
Grant Date Fair Value
Unvested at January 1, 2021200,212 $104.69 
Granted46,070 177.32 
Performance adjustments4,941 88.86 
Vested(63,286)84.97 
Unvested at June 30, 2021187,937 $128.72