Stock-Based Compensation

6 Months Ended

Jun. 30, 2021

Stock-Based Compensation

Stock-Based Compensation

6. Stock-Based Compensation

Stock- Based Compensation Expense

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

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2021		2020		2021		2020
General and administrative	$	470	$	375	$	921	$	810

Valuation Assumptions

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

	Three Months Ended			Six Months Ended
	June 30, 2021			June 30, 2021
Risk-free interest rate		1.07	%		1.07% - 1.13	%
Expected term (in years)		6			6
Volatility		45	%		45	%
Dividend yield		—	%		—	%
Weighted-average estimated fair value of stock options granted	$	5.80		$	5.61

There were no grants of stock options during the three and six months ended June 30, 2020.