Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Stock-Based Compensation

Schedule of stock-based compensation expense

Stock-based compensation expense was included in the consolidated statements of income as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2021		2020		2021		2020
General and administrative	$	542	$	441	$	1,463	$	1,251

Summary of weighted-average assumptions used to calculate estimated value of stock options

Black-Scholes-Merton assumptions used in calculating the estimated value of our stock options on the date of grant were as follows:

	Nine Months Ended
	September 30, 2021
Risk-free interest rate	1.07%-1.13%
Expected term (in years)		6
Volatility		45	%
Dividend yield		—	%
Weighted-average estimated fair value of stock options granted	$	5.61