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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Stock-Based Compensation Stock-Based Compensation
We grant stock-based compensation awards, including restricted stock units, phantom stock, and unrestricted stock units, under the Second Amended and Restated 2010 Stock Incentive Plan (Stock Incentive Plan). Prior to December 31, 2020, stock options were also granted as part of the stock-based compensation awards. In the Stock Incentive Plan, we have 13,991,273 shares of common stock authorized for issuance subject to stock splits, dividends, and other similar events, and at December 31, 2024, 4,590,590 shares were available for grant. We issue new shares of common stock upon the exercise of stock options or when vesting conditions on restricted stock units are fully satisfied. These shares are subject to a fungible share provision such that the authorized share available for grant under the Plan is reduced by (i) one share for every one share subject to a stock option or share appreciation right granted and (ii) 1.7 shares for every one share of common stock that was subject to an award other than an option or share appreciation right.
We also award phantom stock units, which are settled in cash upon vesting and accounted for as liability-based awards, with no impact to the shares available for grant.

In addition, we maintain the ESPP, for which 477,368 shares of common stock were available for future issuance at December 31, 2024.

ESPP activity and stock-based grants other than stock options and restricted stock units were not significant for the years ended December 31, 2024, 2023, and 2022.

Stock-Based Compensation Expense
Total stock-based compensation expense and the related tax benefit were as follows:
Year Ended December 31,
In thousands202420232022
Stock options$— $103 $891 
Restricted stock units42,531 27,189 20,038 
Unrestricted stock awards1,343 1,065 952 
Phantom stock units5,923 5,025 1,315 
Total stock-based compensation$49,797 $33,382 $23,196 
Related tax benefit$10,802 $6,928 $5,371 

Stock Options
A summary of our stock option activity is as follows:
SharesWeighted Average Exercise Price per ShareWeighted Average Remaining Contractual LifeAggregate Intrinsic ValueWeighted Average Grant Date Fair Value
In thousandsYearsIn thousands
Outstanding, January 1, 2022393 $61.18 5.9$4,737 
Granted— — $— 
Exercised(1)45.90 4 
Forfeited(2)87.27 
Canceled
(9)80.00 
Outstanding, December 31, 2022381 $60.63 4.8$1,892 
Granted— — $— 
Exercised(18)45.96 397 
Forfeited— — 
Canceled
— — 
Outstanding, December 31, 2023363 $61.36 4.0$5,886 
Granted— — $— 
Exercised(89)51.45 4,450 
Forfeited
— — 
Canceled
— — 
Outstanding and Exercisable, December 31, 2024
274 $64.55 3.2$12,087 

At December 31, 2024, all stock-based compensation expense related to nonvested stock options has been recognized.
Restricted Stock Units
The following table summarizes restricted stock unit activity:
Number of Restricted Stock UnitsWeighted Average Grant Date Fair ValueAggregate Intrinsic Value
In thousandsIn thousands
Outstanding, January 1, 2022430 $85.77 
Granted391 53.33 
Released (1)
(227)$18,169 
Forfeited(66)
Outstanding, December 31, 2022528 $66.39 
Granted497 56.89 
Released (1)
(242)$13,974 
Forfeited(32)
Outstanding, December 31, 2023751 $58.89 
Granted552 76.34 
Released (1)
(446)62.02 $38,260 
Forfeited(26)67.52 
Outstanding, December 31, 2024831 $67.71 
Vested but not released, December 31, 202418 $108.58 $1,914 

(1) Shares released is presented as gross shares and does not reflect shares withheld by us for employee payroll tax obligations.

At December 31, 2024, total unrecognized compensation expense on restricted stock units was $43.0 million, which is expected to be recognized over a weighted average period of approximately 1.6 years.

The weighted average assumptions used to estimate the fair value of performance-based restricted stock units granted with a service and market condition and the resulting weighted average fair value are as follows:
Year Ended December 31,
202420232022
Expected volatility40.3 %46.0 %55.7 %
Risk-free interest rate4.3 %4.6 %1.7 %
Expected term (years)2.01.92.9
Weighted average fair value$115.69 $73.41 $57.88 
Phantom Stock Units
The following table summarizes phantom stock unit activity:
Number of Phantom Stock UnitsWeighted
Average Grant
Date Fair Value		Aggregate Intrinsic Value
In thousandsIn thousands
Outstanding, January 1, 202269 $85.47 
Granted59 53.07 
Released(34)$1,780 
Forfeited(9)
Outstanding, December 31, 202285 $66.46 
Granted77 56.52 
Released(43)$2,511 
Forfeited(4)
Outstanding, December 31, 2023115 $58.58 
Granted57 77.38 
Released(63)60.99 $5,420 
Forfeited(18)58.74 
Outstanding, December 31, 202491 $68.63 

At December 31, 2024, total unrecognized compensation expense on phantom stock units was $5.1 million, which is expected to be recognized over a weighted average period of approximately 1.6 years. As of December 31, 2024 and 2023, we have recognized a phantom stock liability of $4.8 million and $4.4 million within wages and benefits payable in the Consolidated Balance Sheets.