Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation Plans (Tables)

v3.22.0.1
Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Outstanding Awards Under 2013 Omnibus Equity Incentive Plan
Activity under the 2013 Plan consisted of the following (dollars in
thousands, except weighted average per share data):
 
 
  
RSA Grants to
Non-employee

Directors
 
 
RSU Grants to
Employees
 
 
RSU Grants to
Independent
Contractors
 
 
Total
 
 
Weighted-
Average Grant Date
Fair Value Per
Share
 
Nonvested shares at December 31, 2018
(1)
  
  27,096       471,782       392,697       891,575    
$
27.59  
Granted
  
  12,806       260,274       82,050       355,130    
$
38.51  
Vested
  
  (22,422     (186,311     (191,883     (400,616  
$
24.29  
Transferred
  
  —         (8,136     8,136       —      
$
29.68  
Forfeited/canceled
  
  —         (12,494     (33,520     (46,014  
$
30.65  
   
 
 
   
 
 
   
 
 
   
 
 
         
Nonvested shares at December 31, 2019
(1)
    17,480       525,115       257,480       800,075    
$
33.91  
Granted
    19,516       322,910       92,279       434,705    
$
32.80  
Vested
    (20,268     (170,291     (93,944     (284,503  
$
32.74  
Transferred
    —         (18,294     18,294       —      
$
33.67  
Forfeited/canceled
    —         (21,790     (10,108     (31,898  
$
34.49  
   
 
 
   
 
 
   
 
 
   
 
 
         
Nonvested shares at December 31, 2020
(1)
    16,728       637,650       264,001       918,379    
$
33.73  
Granted
    13,323       277,462       90,430       381,215    
$
39.03  
Vested
    (16,728     (172,327     (88,198     (277,253  
$
31.89  
Transferred
    —         (10,649     10,649       —      
$
34.98  
Forfeited/canceled
    —         (34,357     (7,048     (41,405  
$
33.47  
   
 
 
   
 
 
   
 
 
   
 
 
         
Nonvested shares at December 31, 2021
(1)
    13,323       697,779       269,834       980,936    
$
36.32  
Unrecognized stock-based compensation expense as of December 31, 2021
(2)
  $ 177     $ 20,389     $ 8,079     $ 28,645          
   
 
 
   
 
 
   
 
 
   
 
 
         
Weighted average remaining vesting period (years) as of December 31, 2021
    0.34       3.42       3.36       3.38          
   
 
 
   
 
 
   
 
 
   
 
 
         
 
(1)
Nonvested RSUs will be settled through the issuance of new shares of common stock.
(2)
 
The total unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 3.38 years.
Stock-Based Compensation Expense
Components of stock-based compensation are included in selling, general and administrative expense in the consolidated statements of net and comprehensive income and consisted of the following (in thousands):

 
 
  
Years Ended December 31,
 
 
  
2021
 
  
2020
 
  
2019
 
ESPP
  
$

142     
$

168     
$

139  
RSAs –
non-employee
directors
  
 
463     
 
606     
 
643  
RSUs – employees
(1)
  
 
6,642     
 
6,003     
 
5,419  
RSUs – independent contractors
  
 
3,114     
 
3,128     
 
3,077  
    
 
 
    
 
 
    
 
 
 
    
$
10,361     
$

9,905     
$
9,278  
    
 
 
    
 
 
    
 
 
 
 
(1)
Years ended December 31, 2020 and 2019 include expenses related to the acceleration of vesting of certain RSUs.