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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Non-Vested Restricted Stock Activity

The following table summarizes the non-vested restricted stock activity for the year ended December 31, 2023:

 

 

 

 

Time-Based

 

 

 

 

 

Performance-Based

 

 

 

 

 

Restricted Stock

 

 

 

 

 

Restricted Stock

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted

 

 

Time-Based

 

 

Average

 

 

Performance-Based

 

 

Average

 

 

Restricted Stock

 

 

Grant Date

 

 

Restricted Stock

 

 

Grant Date

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-vested January 1, 2023

 

1,460,440

 

 

$

33.61

 

 

 

307,700

 

 

$

32.10

 

Granted

 

384,394

 

 

$

37.53

 

 

 

201,830

 

 

$

33.39

 

Vested

 

(473,516

)

 

$

29.87

 

 

 

(189,912

)

 

$

26.25

 

Forfeited

 

(206,022

)

 

$

36.00

 

 

 

(26,828

)

 

$

35.58

 

Non-vested at December 31, 2023

 

1,165,296

 

 

$

36.51

 

 

 

292,790

 

 

$

36.47

 

Schedule of Restricted Stock Granted

The following table summarizes the restricted stock granted during the respective years:

 

Time-based restricted stock grants

2023

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

 

 

Employees

 

344,122

 

 

 

383,288

 

 

 

1,020,034

 

Outside directors

 

40,272

 

 

 

46,056

 

 

 

49,126

 

Total

 

384,394

 

 

 

429,344

 

 

 

1,069,160

 

 

 

 

 

 

 

 

 

 

Weighted average grant date fair value

$

37.53

 

 

$

41.46

 

 

$

33.01

 

 

 

 

 

 

 

 

 

 

Vesting period

1-5 years

 

 

1-5 years

 

 

1-5 years