Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.24.0.1
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Compensation  
Schedule of share-based compensation expense and related income tax benefit

The following table presents share-based compensation amounts recognized in our Consolidated Statements of Operations, in thousands:

Year Ended December 31, 

2023

2022

2021

Share-based compensation expense

$

15,838

$

12,310

$

11,316

Income tax benefit

$

1,356

$

1,733

$

2,419

Schedule of share-based compensation activity

The following table presents a summary of our share-based compensation activity for the year ended December 31, 2023, in thousands, except per share amounts:

RSAs

Stock Options

Number of Shares

   

Weighted Average Grant Date Fair Value Per Share

   

Number of Shares

   

Weighted Average Grant Date Fair Value Per Share

   

Weighted Average Exercise Price Per Share

   

Aggregate
Intrinsic
Value

Balance December 31, 2022

173.2

$

195.06

182.2

$

32.25

$

86.79

$

13,992.3

Granted

131.4

$

201.86

$

$

Converted/Exercised

(100.7)

$

147.25

(53.5)

$

22.02

$

58.46

$

9,407.9

Forfeited/Expired

(8.4)

$

229.69

$

$

Balance December 31, 2023

195.5

$

223.49

128.7

$

36.65

$

98.58

$

35,462.8

Exercisable December 31, 2023 (a)

121.2

$

33.41

$

91.47

$

34,276.8

(a) The weighted average remaining contractual term for vested stock options is 5.3 years.
Schedule of unrecognized share-based compensation expense relating to unvested awards

We had unrecognized share-based compensation expense relating to unvested awards as shown in the following table, dollars in thousands:

As of December 31, 2023

Unrecognized Compensation Expense
on Unvested Awards

Weighted Average
Remaining
Compensation Expense Period

RSAs

$

19,190

0.9

Stock options

64

0.1

Total unrecognized compensation expense related to unvested awards

$

19,254

Schedule of key inputs used to estimate the fair value of awards

2023

2022

2021

Measurement period (years)

2.86

2.87

2.87

Risk free interest rate

4.42

%

1.76

%

0.22

%

Dividend yield

0.00

%

0.00

%

0.00

%

Estimated fair value of market-based RSAs at grant date

$

270.64

$

298.20

$

298.66

Performance-based conditions | Restricted Stock Awards  
Share-Based Compensation  
Schedule of the range of payouts and the related expense for RSAs with performance-based conditions

Payout Ranges and Related Expense

RSAs with Performance-Based Conditions

Grant Date Fair Value

0%

25%

100%

200%

February 16, 2021

$

2,189

$

-

$

547

$

2,189

$

4,378

February 15, 2022

$

3,027

$

-

$

757

$

3,027

$

6,054

February 21, 2023

$

4,113

$

-

$

1,028

$

4,113

$

8,226