Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.21.2
Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Summary of Stock Option Activity
A summary of the stock option activity under the Company’s plans for the nine months ended September 30, 2021 is as follows:
 
Number of
Shares
Weighted Average Exercise Price
Options outstanding at December 31, 2020 3,785,941  $ 15.21 
Options granted 887,332  $ 48.19 
Less:
Options exercised 931,954  $ 10.85 
Options forfeited 226,411  $ 31.73 
Options outstanding at September 30, 2021 3,514,908  $ 23.63 
Exercisable at September 30, 2021 1,758,830  $ 12.07 
Summary of Fair Value of Each Stock Option Award Granted The fair value of each stock option award granted during the nine months ended September 30, 2021 was estimated as of the grant date using a Black-Scholes model with the following weighted average assumptions:
  Nine Months Ended
September 30, 2021
Expected term (in years)
3.5 - 5.5
Risk-free interest rate (%) 0.7%
Expected volatility (%)
39% - 49%
Dividend yield (%)
Weighted average fair value/share at grant date $18.19
Summary of Restricted Stock Activity A summary of the restricted stock activity under the Company’s plans for the nine months ended September 30, 2021 is as follows:
Number of Restricted
Shares
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020 291,891  $ 23.82 
Granted 345,416  $ 47.92 
Vested (111,646) $ 23.28 
Forfeited (32,885) $ 35.23 
Nonvested at September 30, 2021 492,776  $ 40.08 
Share-based Payment Arrangement, Performance Shares, Activity The following table summarizes the performance-based stock awards as of September 30, 2021:
Number of Performance
Shares
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020 —  $ — 
Granted 356,548  $ 44.87 
Vested —  $ — 
Forfeited —  $ — 
Nonvested at September 30, 2021 356,548  $ 44.87