Quarterly report pursuant to Section 13 or 15(d)

Treasury Stock and Share Based Awards (Tables)

v3.21.1
Treasury Stock and Share Based Awards (Tables)
3 Months Ended
Mar. 31, 2021
Summary of Treasury Stock Activity Below is a summary of the Company’s treasury stock activity for the three months ended March 31, 2021:

 

 

 

Number of

 

 

 

 

 

 

 

Treasury

 

 

 

 

 

 

 

Shares

 

 

Cost

 

Balance at January 1, 2021

 

 

5,050,981

 

 

$

87,004

 

Restricted stock withholdings (1)

 

 

220

 

 

 

8

 

Restricted stock forfeitures

 

 

9,185

 

 

 

 

Balance at March 31, 2021

 

 

5,060,386

 

 

$

87,012

 

 

(1)

The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock and restricted stock units.  The Company determined the number of shares to be withheld based upon market values ranging from $17.41 to $24.14 per share.

Summary of Restricted Stock Activity

Below is a summary of restricted stock activity for the three months ended March 31, 2021:

 

 

 

Shares of

 

 

Weighted

Average

 

 

 

Restricted

 

 

Grant Date

 

 

 

Stock

 

 

Fair Value

 

Outstanding at January 1, 2021

 

 

1,431,975

 

 

$

21.11

 

Granted

 

 

968,474

 

 

$

21.34

 

Vested

 

 

(55,064

)

 

$

33.05

 

Forfeited

 

 

(9,185

)

 

$

15.25

 

Outstanding at March 31, 2021

 

 

2,336,200

 

 

$

20.94

 

Unvested restricted stock at March 31, 2021

 

 

2,336,200

 

 

$

20.94

 

Restricted Stock  
Summary of Restricted Stock and Restricted Stock Unit Award Activity

 

 

 

 

Three Months Ended

March 31,

 

 

 

2021

 

 

2020

 

Compensation expense recognized during the period

 

$

4,230

 

 

$

2,691

 

Fair value of restricted shares that vested during the period

 

$

1,148

 

 

$

8,029

 

Income tax benefit (cost) related to restricted stock awards

 

$

(110

)

 

$

2,418

 

 

Restricted Stock Units (RSUs)  
Summary of Restricted Stock and Restricted Stock Unit Award Activity

 

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Number of restricted stock unit awards that vested during the period

 

 

14,744

 

 

 

112,070

 

Fair value of restricted stock unit awards that vested during the period

 

$

303

 

 

$

3,554

 

Accumulated dividends paid upon vesting of restricted stock unit awards

 

$

63

 

 

$

544

 

Compensation expense recognized during the period

 

$

438

 

 

$

1,420

 

Income tax benefit (cost) related to restricted stock unit awards

 

$

(129

)

 

$

821