Quarterly report pursuant to Section 13 or 15(d)

Treasury Stock and Share Based Awards (Tables)

v3.21.2
Treasury Stock and Share Based Awards (Tables)
9 Months Ended
Sep. 30, 2021
Summary of Treasury Stock Activity Below is a summary of the Company’s treasury stock activity for the nine months ended September 30, 2021:

 

 

 

Number of

 

 

 

 

 

 

Treasury

 

 

 

 

 

 

Shares

 

 

Cost

 

Balance at January 1, 2021

 

 

5,050,981

 

 

$

87,004

 

Restricted stock withholdings (1)

 

 

565

 

 

 

16

 

Restricted stock forfeitures

 

 

42,034

 

 

 

 

Balance at September 30, 2021

 

 

5,093,580

 

 

$

87,020

 

 

(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 nine months ended September 30, 2021:

 

 

 

Shares of

 

 

Weighted
Average

 

 

 

Restricted

 

 

Grant Date

 

 

 

Stock

 

 

Fair Value

 

Outstanding at January 1, 2021

 

 

1,431,975

 

 

$

21.11

 

Granted

 

 

1,077,926

 

 

$

21.24

 

Vested

 

 

(115,712

)

 

$

23.79

 

Forfeited

 

 

(42,034

)

 

$

18.13

 

Outstanding at September 30, 2021

 

 

2,352,155

 

 

$

21.00

 

Unvested restricted stock at September 30, 2021

 

 

2,352,155

 

 

$

21.00

 

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

 

 

 

Nine Months Ended
September 30,

 

 

 

2021

 

 

2020

 

Compensation expense recognized during the period

 

$

13,757

 

 

$

8,235

 

Fair value of restricted shares that vested during the period

 

$

2,491

 

 

$

8,944

 

Income tax benefit (cost) related to restricted stock awards

 

$

(105

)

 

$

2,678

 

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

Below is a summary of restricted stock unit activity for the nine months ended September 30, 2021:

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

Number of restricted stock unit awards that vested during the period

 

 

15,230

 

 

 

120,293

 

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

 

$

314

 

 

$

3,669

 

Accumulated dividends paid upon vesting of restricted stock unit awards

 

$

62

 

 

$

576

 

Compensation expense recognized during the period

 

$

2,832

 

 

$

4,624

 

Income tax benefit (cost) related to stock unit awards

 

$

(467

)

 

$

215