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Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of non-vested PSUs
A summary of activity is presented in the following table:
For the Years Ended December 31,
202120202019
PSUs (1)
Weighted-Average Grant-Date Fair Value
PSUs (1)
Weighted-Average Grant-Date Fair Value
PSUs (1)
Weighted-Average Grant-Date Fair Value
Non-vested at beginning of year830,464 $17.52 2,022,585 $16.87 1,711,259 $20.68 
Granted$— — $— 793,125 $12.80 
Vested(352,395)$23.81 (792,572)$15.85 (346,021)$26.32 
Forfeited(13,586)$15.46 (399,549)$17.56 (135,778)$16.98 
Non-vested at end of year464,483 $12.80 830,464 $17.52 2,022,585 $16.87 
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(1)The number of shares of common stock assumes a multiplier of one. The actual final number of shares of common stock to be issued will range from zero to two times the number of PSUs awarded depending on the three-year performance multiplier.
Schedule of shares settled, performance share units
A summary of the shares of common stock issued to settle employee PSUs is presented in the table below:
For the Years Ended December 31,
20212020
Shares of common stock issued to settle PSUs (1)
347,742 700,511 
Less: shares of common stock withheld for income and payroll taxes(112,919)(215,451)
Net shares of common stock issued234,823 485,060 
Multiplier earned
1.0
0.9
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(1)    During the years ended December 31, 2021, and 2020, the Company settled PSUs that were granted in 2018 and 2017, respectively. The Company and all eligible recipients in 2021 and the majority of eligible recipients in 2020, mutually agreed to net share settle a portion of the awards to cover income and payroll tax withholdings, as provided for in the Equity Plan and applicable award agreements.
During the year ended December 31, 2019, PSUs that were granted in 2016 did not satisfy the minimum performance requirements. This resulted in a multiplier of zero times and no shares of common stock were issued upon settlement.
Schedule of non-vested RSUs
A summary of activity is presented in the following table:
For the Years Ended December 31,
202120202019
RSUsWeighted-
Average
Grant-Date
Fair Value
RSUsWeighted-
Average
Grant-Date
Fair Value
RSUsWeighted-
Average
Grant-Date
Fair Value
Non-vested at beginning of year
2,097,860 $8.83 1,532,131 $16.01 1,243,163 $21.50 
Granted666,052 $25.52 1,458,869 $5.98 978,932 $12.36 
Vested(843,098)$11.00 (746,132)$16.74 (466,535)$21.94 
Forfeited(79,577)$10.64 (147,008)$15.34 (223,429)$18.16 
Non-vested at end of year
1,841,237 $13.79 2,097,860 $8.83 1,532,131 $16.01 
Schedule of shares settled, restricted stock units
A summary of the shares of common stock issued to settle employee RSUs is presented in the table below:
For the Years Ended December 31,
202120202019
Shares of common stock issued to settle RSUs (1)
843,098 746,132 466,535 
Less: shares of common stock withheld for income and payroll taxes(250,349)(209,173)(132,136)
Net shares of common stock issued592,749 536,959 334,399 
____________________________________________
(1)    During the years ended December 31, 2021, 2020, and 2019, the Company issued shares of common stock to settle RSUs that related to awards granted in previous years. The Company and all eligible recipients in 2021, and the majority of eligible recipients in 2020, and 2019 mutually agreed to net share settle a portion of the awards to cover income and payroll tax withholdings in accordance with the Company’s Equity Plan and individual award agreements.
Schedule of employee stock purchase plan
The fair value of ESPP shares issued during the periods reported above were estimated using the following weighted-average assumptions:
For the Years Ended December 31,
202120202019
Risk free interest rate0.8 %0.8 %2.3 %
Dividend yield0.3 %0.7 %0.7 %
Volatility factor of the expected market price of the Company’s common stock106.1 %166.2 %56.6 %
Expected life (in years)0.50.50.5