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Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The components of the Company’s shared-based compensation expense for the six months ended June 30, 2021 and 2020 are as follows:
Six Months Ended June 30,
20212020
(in thousands)
Stock options$918 $1,054 
Restricted stock units and deferred stock units3,148 2,598 
Performance stock units197 — 
Employee Stock Purchase Plan306 273 
Total pre-tax share-based compensation expense charged against income1
$4,569 $3,925 
1.Share-based compensation expense is recorded in cost of services and selling, general and administrative expense in the Company’s Consolidated Statements of Comprehensive Income.
Summary of Other Information of Stock Option Plans
A summary of stock options outstanding under the 2020 Plan and the 2012 Plan as of December 31, 2020 and changes during the six months ended June 30, 2021 are as follows:
Stock Options Outstanding
Number of SharesWeighted Average Exercise Price
(in thousands)
December 31, 20202,098 $33.35 
Granted207 $28.45 
Exercised(71)$24.77 
Forfeited(1)$39.38 
Expired(8)$33.22 
June 30, 20212,225 $33.16 
Assumption For Fair Value of Options Granted
The fair value of stock option awards granted in 2021 and 2020 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Six Months Ended June 30,
20212020
Risk-free interest rate0.6 %1.8 %
Weighted average expected life6.6 years6.6 years
Expected volatility34.7 %26.5 %
Dividend yield2.9 %3.2 %
Summarized Information of Stock Options Outstanding
The following table summarizes other information about the stock options at June 30, 2021:
June 30, 2021
(amounts in thousands, except per share data)
Outstanding:
Aggregate intrinsic value$5,632 
Weighted average remaining contractual life5.3 years
Exercisable:
Number of options1,579 
Weighted average exercise price$33.07 
Aggregate intrinsic value$3,763 
Weighted average remaining contractual life4.2 years
Summary of Outstanding Restricted Stock Units
A summary of the outstanding restricted stock units as of December 31, 2020 and changes during the six months ended June 30, 2021 is as follows:
Restricted Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 2020561 $33.31 
Granted262 $28.53 
Vested(146)$35.35 
Forfeited(7)$30.14 
June 30, 2021670 $31.03 
Summary of Outstanding Performance Stock Units
A summary of the outstanding PSUs as of December 31, 2020 and changes during the six months ended June 30, 2021 is as follows:

Performance Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 2020— $— 
Granted35 $34.52 
Vested— $— 
Forfeited— $— 
June 30, 202135 $34.52 
Schedule of Options Granted Estimated Expense Valuation Assumptions
The expense associated with the options granted under the ESPP during the six months ended June 30, 2021 and 2020 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Six Months Ended June 30,
20212020
Risk-free interest rate0.1%1.6%
Weighted average expected life (years)1.01.0
Expected volatility61.7%42.0%
Dividend yield2.9%3.3%
Summary of ESPP Annual Offerings
The following table summarizes information about the SERP during the six months ended June 30, 2021 and 2020:
Six Months Ended June 30,
 20212020
(in thousands)
SERP expense 1
$324 $298 
Unrealized gain recorded in SERP liability account$4,207 $763 
1.Both the SERP match and the deferrals are included in the selling, general and administrative caption in the Consolidated Statements of Comprehensive Income.