Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.23.3
Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 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 condensed consolidated statements of operations, in thousands:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30, 

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Nine Months Ended September 30, 

​

​

2023

​

2022

​

2023

​

2022

Share-based compensation expense

​

$

4,194

​

$

2,611

​

$

11,080

​

$

9,673

Income tax benefit/(expense)

​

$

679

​

$

(56)

​

$

455

​

$

1,517
Schedule of share-based compensation activity

The following table presents a summary of our share-based compensation activity for the nine months ended September 30, 2023, in thousands, except per share amounts:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

​

105.1

​

$

202.08

​

—

​

$

—

​

$

—

​

​

—

Converted/Exercised

​

(100.7)

​

$

147.25

​

(51.0)

​

$

18.67

​

$

50.71

​

$

9,141.2

Forfeited/Expired

​

(8.0)

​

$

229.50

​

—

​

$

—

​

$

—

​

​

—

Balance September 30, 2023

​

169.6

​

$

227.31

​

131.2

​

$

37.67

​

$

100.82

​

$

19,777.7

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Exercisable September 30, 2023 (a)

​

​

​

​

123.7

​

$

34.55

​

$

93.99

​

$

19,502.8
(a) The weighted average remaining contractual term for vested stock options is approximately 5.6 years.
Schedule of unrecognized share-based compensation expense relating to unvested awards

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

​

​

​

​

​

​

​

​

​

As of September 30, 2023

​

​

Unrecognized Compensation Expense
on Unvested Awards

​

Weighted Average
Remaining
Compensation Expense Period

RSAs

​

$

19,121

​

​

1.0

Stock options

​

​

176

​

​

0.2

Total unrecognized compensation expense related to unvested awards

​

$

19,297

​

​

​
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 The following table shows the range of payouts and the related expense for our outstanding RSAs with performance-based conditions, in thousands:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

​

$

3,042

​

$

-

​

$

761

​

$

3,042

​

$

6,084

February 21, 2023

​

$

4,128

​

$

-

​

$

1,032

​

$

4,128

​

$

8,256