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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
STOCK-BASED COMPENSATION  
Schedule of recognized stock-based compensation expense

We recognized stock-based compensation expense as follows (amounts in thousands):

Year Ended

Six Months Ended

Fiscal Years Ended

December 31,

December 31,

June 30,

June 30,

    

2022

    

2021

    

2021

    

2020

Restricted stock

$

4,515

$

2,006

$

2,668

$

5,117

Performance stock

2,685

405

1,317

1,291

Stock appreciation rights

1,179

779

1,677

2,545

Stock options

32

28

68

163

Total stock-based compensation expense

$

8,411

$

3,218

$

5,730

$

9,116

Schedule of valuation assumptions

Stock Options

Year Ended

Six Months Ended

Fiscal Years Ended

December 31,

December 31,

June 30,

June 30,

2022

2021

2021

    

2020

    

Weighted-average expected volatility

    

%  

%  

39.4

%  

34.4

%  

Weighted-average expected life in years

 

 

 

4.4

 

4.5

 

Weighted-average dividend yield

 

%  

%  

0.9

%  

1.0

%  

Weighted-average risk free interest rate

 

%  

%  

0.2

%  

1.6

%  

SSARs

 

Year Ended

Six Months Ended

Fiscal Years Ended

December 31,

December 31,

June 30,

June 30,

2022

2021

2021

2020

 

Weighted-average expected volatility

%  

%  

39.2

%  

34.6

%

Weighted-average expected life in years

 

 

4.2

 

4.7

Weighted-average dividend yield

%  

%  

0.9

%  

1.0

%

Weighted-average risk free interest rate

%  

%  

0.2

%  

1.6

%

Summary of stock options activity

    

    

    

Weighted-

    

Weighted-

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic Value

Shares

Price

Life (Years)

(in thousands)

Outstanding at January 1, 2022

 

21,761

$

79.51

 

  

 

  

Granted

 

$

 

  

 

  

Forfeited

 

(476)

$

139.84

 

  

 

  

Exercised

 

(3,407)

$

62.38

 

  

 

  

Outstanding at December 31, 2022

 

17,878

$

79.51

 

4.1

$

632

Exercisable at December 31, 2022

 

17,164

$

78.73

 

4.0

$

632

Summary of SSARs activity

    

    

    

Weighted-

    

Weighted-

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic Value

Shares

Price

Life (Years)

(in thousands)

Outstanding at January 1, 2022

 

184,137

$

111.15

 

  

 

  

Granted

 

$

 

  

 

  

Forfeited

 

(2,110)

$

139.84

 

  

 

  

Exercised

 

(7,121)

$

90.41

 

  

 

  

Outstanding at December 31, 2022

 

174,906

$

111.65

 

6.2

$

2,396

Exercisable at December 31, 2022

 

154,602

$

107.95

 

6.0

$

2,396

Summary of non-vested awards

    

    

Weighted-

Average

Number of

Grant Date

Shares

Fair Value

Outstanding at January 1, 2022

 

167,378

$

108.75

Granted

 

39,380

$

148.89

Forfeited

 

(6,480)

$

118.62

Vested

 

(6,830)

$

107.77

Non-attainment

 

(27,007)

$

83.16

Outstanding at December 31, 2022

 

166,441

$

122.05

Summary of the status of non-vested restricted stock

    

    

Weighted-

Average

Number of

Grant Date

Shares

Fair Value

Outstanding at January 1, 2022

 

128,058

$

111.03

Granted

 

28,218

$

126.69

Forfeited

 

(3,270)

$

121.06

Vested

 

(32,464)

$

102.38

Outstanding at December 31, 2022

 

120,542

$

116.76