Annual report pursuant to Section 13 and 15(d)

Share-based Compensation (Tables)

v3.22.0.1
Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-Based Compensation Expense and Related Tax Benefits

The table below provides the share-based compensation expense and related tax benefits for the periods indicated:

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Share-based compensation expense

 

$

2,436

 

 

$

2,544

 

 

$

3,125

 

Related tax benefits

 

$

703

 

 

$

734

 

 

$

941

 

Summary of Information under Plans

The following information under the Plans is presented for the periods indicated:

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Total intrinsic value of options exercised (1)

 

$

 

 

$

 

 

$

842

 

Cash received from options exercised

 

$

 

 

$

 

 

$

2,979

 

 

(1)

Intrinsic value represents the difference between the closing stock price on the exercise date and the exercise price, multiplied by the number of options.

Summary of Stock Option Transactions under Plans

The following is a summary of stock option transactions under the Plans for the periods indicated:

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise

Price Per

Share

 

Options outstanding at beginning of period

 

 

125,938

 

 

$

19.59

 

 

 

156,438

 

 

$

18.84

 

 

 

338,338

 

 

$

17.52

 

Options exercised

 

 

 

 

$

 

 

 

 

 

$

 

 

 

(181,900

)

 

$

16.38

 

Options forfeited

 

 

(10,000

)

 

$

19.74

 

 

 

(30,500

)

 

$

15.73

 

 

 

 

 

$

 

Options outstanding at end of period

 

 

115,938

 

 

$

19.58

 

 

 

125,938

 

 

$

19.59

 

 

 

156,438

 

 

$

18.84

 

Options exercisable at end of period

 

 

115,938

 

 

$

19.58

 

 

 

125,938

 

 

$

19.59

 

 

 

156,438

 

 

$

18.84

 

Summary of Stock Options Outstanding under Plans

As of December 31, 2021, stock options outstanding under the Plans were as follows:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

 

 

Number of

Shares

 

 

Intrinsic

Value

(1)

 

 

Weighted-

Average

Average

Exercise

Price Per

Share

 

 

Weighted-

Average

Remaining

Contractual

Life

 

 

Number of

Shares

 

 

Intrinsic

Value

(1)

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Weighted-

Average

Remaining

Contractual

Life

 

$10.80 to $14.99

 

 

4,938

 

 

$

55

 

 

$

12.54

 

 

 

0.95

 

 

 

4,938

 

 

$

55

 

 

$

12.54

 

 

 

0.95

 

$15.00 to $19.99

 

 

50,000

 

 

 

363

 

 

 

16.43

 

 

 

1.66

 

 

 

50,000

 

 

 

363

 

 

 

16.43

 

 

 

1.66

 

$20.00 to $24.83

 

 

61,000

 

 

 

61

 

 

 

22.73

 

 

 

2.84

 

 

 

61,000

 

 

 

61

 

 

 

22.73

 

 

 

2.84

 

 

 

 

115,938

 

 

$

479

 

 

$

19.58

 

 

 

2.30

 

 

 

115,938

 

 

$

479

 

 

$

19.58

 

 

 

2.30

 

 

(1)

Intrinsic value represents the difference between the closing stock price on the last trading day of the period, which was $23.68 as of December 31, 2021, and the exercise price, multiplied by the number of options. This value is presented in thousands.

Schedule of Restricted Stock Awards under 2013 Plan

The table below provides information for restricted stock awards under the 2013 Plan for the periods indicated:

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Fair Value

Per Share

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Per Share

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Fair Value

Per Share

 

Restricted stock at beginning of period

 

 

243,708

 

 

$

15.60

 

 

 

296,201

 

 

$

22.91

 

 

 

304,595

 

 

$

21.98

 

Restricted stock granted

 

 

75,679

 

 

$

19.62

 

 

 

125,896

 

 

$

8.51

 

 

 

181,204

 

 

$

22.05

 

Restricted stock vested

 

 

(134,659

)

 

$

16.01

 

 

 

(137,892

)

 

$

24.68

 

 

 

(99,527

)

 

$

27.56

 

Restricted stock forfeited

 

 

(32,641

)

 

$

15.02

 

 

 

(40,497

)

 

$

16.55

 

 

 

(90,071

)

 

$

13.78

 

Restricted stock at end of period

 

 

152,087

 

 

$

17.24

 

 

 

243,708

 

 

$

15.60

 

 

 

296,201

 

 

$

22.91