Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation Plans (Tables)

v3.21.1
Stock-Based Compensation Plans (Tables)
 3 Months Ended
Mar. 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, 2020
(1)
      16,728        637,650       264,001       918,379       33.73  
Granted
      —          217,893       9,834       227,727       39.10  
Vested
      —          (132,176 )      (16,941 )      (149,117 )      33.01  
Transferred
      —          (3,220 )      3,220       —         31.05  
Forfeited/canceled
      —          (16,476 )      (3,585 )      (20,061 )      33.05  
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Nonvested shares at March 31, 2021
(1)
      16,728        703,671       256,529       976,928       34.56  
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Unrecognized stock-based compensation expense as of March 31, 2021
(2)
    $ 42      $ 24,124     $ 7,212     $ 31,378          
    
 
 
     
 
 
    
 
 
    
 
 
          
Weighted average remaining vesting period (years) as of March 31, 2021
      0.10        3.91       3.09       3.72          
    
 
 
     
 
 
    
 
 
    
 
 
          
 
(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 3.72 years.
Schedule of Future Share Settlements
    
March 31,
 202
1
  
2021
      60,373  
2022
      281,193  
    
 
 
  
       341,566  
    
 
 
  
Stock-Based Compensation Expense
Components of stock-based compensation are included in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income and consisted of the following (in thousands):
 
     Three Months Ended
March 31,		  
     2021      2020  
ESPP
    $
 
 50      $
 
 47  
RSAs –
non-employee
directors
      111        160  
RSUs – employees
      1,454        1,656  
RSUs – independent contractors
      673        769  
    
 
 
     
 
 
  
     $ 2,288      $ 2,632