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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
A summary of the Company’s performance stock option activity as of December 31, 2023, and changes during the year then ended, are presented below:
Number of
Shares
Weighted Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in thousands)
Outstanding and exercisable as of December 31, 2022
79,949 $30.95 
Exercised(79,949)$30.95 
Outstanding and exercisable as of December 31, 2023
— $— $— 
Summary of Restricted Stock Units
A summary of the Company’s stock award activities as of December 31, 2023, and changes during the year then ended, is presented below:
Non-Vested
Shares (1)
Weighted Average
Grant Date
Fair Value
Non-vested as of December 31, 2022542,935 $51.31 
Awarded325,765 $49.97 
Vested(315,153)$45.95 
Cancelled(34,834)$55.36 
Non-vested as of December 31, 2023518,713 $53.45 
________________________
(1)Certain of the Company’s stock awards have a vesting matrix under which the stock awards can vest at a maximum level that is up to 200% of the shares that would vest for achieving the performance goals at target. The number of shares presented is based on achieving the performance goals at target levels as defined in the stock award agreements. As of December 31, 2023 and 2022, the maximum number of non-vested performance shares that could vest under the provisions of the agreements was 659,343 and 687,320, respectively.