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Stockholders' Equity
 12 Months Ended
Dec. 31, 2020
Stockholders' Equity [Abstract]  
Stockholders' Equity

Note 19.  Stockholders' Equity

Capital Stock


The Company's authorized capital stock consists of 100 million shares of common stock, par value $0.10 per share, of which 33,882,187 shares and 34,544,307 shares were outstanding at December 31, 2020 and 2019, respectively, and 1,000,000 shares of preferred stock, none of which were issued and outstanding.

Cash Dividends


Cash dividends of $6.8 million or $0.20 per common share were paid during 2020. In January 2021, a cash dividend of approximately $1.7 million or $0.05 per share, was declared, payable in the first quarter of 2021.

Stock Award and Incentive Plan


At the Company’s 2020 Annual Meeting of Stockholders, the Company’s stockholders ratified the adoption of an amendment and restatement of the Company’s 2015 Stock Award and Incentive Plan (the “2015 Plan”), which provides for grants of incentive and non-qualified stock options, restricted stock, stock appreciation rights, stock awards or performance unit awards.  This amendment and restatement increased the number of shares available for issuance pursuant to the 2015 Plan by 1,300,000 shares. The amendment and restatement also removed references to sections of the Internal Revenue Code that no longer apply, added a one-year minimum vesting requirement for all equity awards, subject to an exception of up to 5% of total shares available, and prohibited payment of dividends or dividend equivalents on unvested awards.  Finally, the amendment and restatement also revised the definition of “change in control” in the 2015 Plan. The amendment and restatement of the Company’s 2015 Plan by the Company’s stockholders applies to all awards granted under the 2015 Plan after March 11, 2020; awards granted prior to such date are governed by the 2015 Plan as in effect prior to the adoption of such changes (or, for awards granted prior to May 2015, by the 2001 Stock Award and Incentive Plan, as amended and restated (together with the 2015 Plan, the "Plans")).


The Plans are administered by the Compensation Committee of the Board of Directors. Stock options granted under the Plans generally have a ten year term. The exercise price for stock options are at prices at or above the fair market value of the common stock on the date of the grant, and each award of stock options will vest ratably over a specified period, generally three years.


The following table summarizes stock option and restricted stock activity for the Plans:

        
Stock Options
    
Restricted Shares
  
   
Shares
Available
for Grant
    
Shares
    
Weighted Average
Exercise Price
per Share ($)
    
Shares
    
Weighted Average
Exercise Price
per Share ($)
  
Balance January 1, 2018
    
1,036,505
      
996,839
    
$
48.21
      
180,110
    
$
58.57
  
Granted
    
(260,508
)
    
191,147
      
76.09
      
69,361
      
76.26
  
Exercised/vested
    
—
      
(98,945
)
    
33.83
      
(59,649
)
    
56.44
  
Canceled
    
90,026
      
(34,782
)
    
65.47
      
(55,244
)
    
58.57
  
Balance December 31, 2018
    
866,023
      
1,054,259
      
54.04
      
134,578
      
68.64
  
Granted
    
(388,162
)
    
271,261
      
54.44
      
116,901
      
54.51
  
Exercised/vested
    
—
      
(79,686
)
    
27.26
      
(40,776
)
    
60.79
  
Canceled
    
51,181
      
(18,214
)
    
66.93
      
(32,967
)
    
61.87
  
Balance December 31, 2019
    
529,042
      
1,227,620
      
55.83
      
177,736
      
62.40
  
Authorized
    
1,300,000
      
—
      
—
      
—
      
—
  
Granted
    
(394,290
)
    
286,078
      
57.67
      
108,212
      
56.93
  
Exercised/vested
    
—
      
(93,099
)
    
35.11
      
(43,702
)
    
66.07
  
Canceled
    
97,494
      
(57,233
)
    
63.92
      
(40,261
)
    
65.42
  
Balance December 31, 2020
    
1,532,246
      
1,363,366
    
$
57.29
      
201,985
    
$
58.07