XML 57 R41.htm IDEA: XBRL DOCUMENT v3.20.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Stock Award / Unit Activity
The following table is a summary of restricted stock award activity:
 Year Ended December 31,
 202020192018
 SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period58,834 $25.19 150,293 $28.12 161,450 $28.00 
Granted— — 55,500 25.29 — — 
Vested(6,334)24.39 (143,959)28.29 (7,157)25.17 
Forfeited(2,000)25.29 (3,000)25.29 (4,000)28.45 
Outstanding at end of period(1)(2)
50,500 $25.29 58,834 $25.19 150,293 $28.12 
__________________________________________________________________
(1)As of December 31, 2020, the aggregate intrinsic value was $0.8 million and was calculated by multiplying the closing market price of the Company's stock on December 31, 2020 by the number of non-vested restricted stock awards outstanding.
(2)As of December 31, 2020, the weighted average remaining contractual term of non-vested restricted stock awards outstanding was 1.4 years.
The following table is a summary of restricted stock unit activity:
 Year Ended December 31,
 202020192018
 SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period574,219 $18.47 490,415 $17.41 407,563 $16.17 
Granted and fully vested130,065 15.88 83,804 24.70 82,852 23.47 
Issued— — — — — — 
Forfeited— — — — — — 
Outstanding at end of period(1)(2)
704,284 $17.99 574,219 $18.47 490,415 $17.41 
_______________________________________________________________________________
(1)As of December 31, 2020, the aggregate intrinsic value was $11.5 million and was calculated by multiplying the closing market price of the Company's stock on December 31, 2020 by the number of outstanding restricted stock units.
(2)Due to the immediate vesting of the units and the unknown term of each director, the weighted-average remaining contractual term in years has not been provided.
Schedule of Performance Share Awards Activity
The following table is a summary of activity for Employee Performance Share Awards:
 Year Ended December 31,
 202020192018
 SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period1,259,287 $23.64 1,280,021 $22.22 1,095,970 $23.31 
Granted722,500 15.60 526,730 24.95 531,670 23.25 
Issued and fully vested(334,640)22.60 (388,370)20.49 (315,970)27.71 
Forfeited(37,023)20.38 (159,094)24.29 (31,649)22.33 
Outstanding at end of period1,610,124 $20.31 1,259,287 $23.64 1,280,021 $22.22 
The following table is a summary of activity for the Hybrid Performance Share Awards:
 Year Ended December 31,
 202020192018
 SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share		SharesWeighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period692,788 $23.90 662,388 $22.48 574,354 $22.72 
Granted506,412 15.60 315,029 24.95 321,720 23.25 
Issued and fully vested(295,649)23.40 (284,629)21.78 (233,686)24.12 
Forfeited— — — — — — 
Outstanding at end of period903,551 $19.41 692,788 $23.90 662,388 $22.48 
The following table is a summary of activity for the TSR Performance Share Awards:
 Year Ended December 31,
 202020192018
 Shares
Weighted-
Average Grant
Date Fair Value
per Share(1)
Shares
Weighted-
Average Grant
Date Fair Value
per Share(1)
Shares
Weighted-
Average Grant
Date Fair Value
per Share(1)
Outstanding at beginning of period1,428,634 $20.17 1,299,868 $19.47 1,109,708 $19.23 
Granted862,180 13.79 536,673 20.63 482,581 19.92 
Issued and fully vested(891,961)19.89 (407,907)18.57 (292,421)19.29 
Forfeited— — — — — — 
Outstanding at end of period1,398,853 $16.41 1,428,634 $20.17 1,299,868 $19.47 
_______________________________________________________________________________
(1)The grant date fair value figures in this table represent the fair value of the equity component of the performance share awards.
Assumptions Used to Determine Grant Date Fair Value of Equity and Liability Component The following assumptions were used to determine the grant date fair value of the equity component of the TSR Performance Share Awards for the respective periods:
 Year Ended December 31,
 202020192018
Fair value per performance share award granted during the period$13.79 $20.63 $19.92 
Assumptions   
Stock price volatility29.5 %31.3 %37.3 %
Risk free rate of return1.4 %2.5 %2.4 %

The following assumptions were used to determine the fair value of the liability component of the TSR Performance Share Awards for the respective periods:
 December 31,
 202020192018
Fair value per performance share award at the end of the period
$10.37 - $10.81
$6.18 - $14.80
$15.15 - $20.12
Assumptions   
Stock price volatility
42.4% - 52.4%
29.8% - 30.4%
29.9% - 31.1%
Risk free rate of return0.1%1.6%
2.5% - 2.6%