Share-based Arrangements (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock Option Activity

Stock option activity was as follows:

	For the Three Months Ended
	March 31, 2023
	Options	Weighted - average exercise price
Options outstanding at beginning of period	710,782	$	54.12
Granted	—	$	—
Exercised	—	$	—
Forfeited or expired	(24,061)	$	43.07
Options outstanding at March 31, 2023	686,721	$	54.51

Fair Value Assumptions

The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. No options were granted in the three-month fiscal periods ended March 31, 2023 and April 1, 2022.

Restricted Stock Award and Restricted Stock Unit Activity

Restricted stock award and restricted stock unit activity were as follows:

	For the Three Months Ended
	March 31, 2023
	Restricted  Stock	Weighted- average grant date fair value
Restricted Stock outstanding at beginning of period	159,521	$	45.78
Granted	102,600	$	25.24
Vested	(62,488)	$	47.14
Forfeited or expired	(4,366)	$	47.51
Restricted Stock outstanding at March 31, 2023	195,267	$	34.51

Share-based Payment Arrangement, Performance Shares, Activity

Performance stock unit activity was as follows:

	For the Three Months Ended
	March 31, 2023
	Performance Stock	Weighted- average grant date fair value
Performance Stock outstanding at beginning of period	172,144	$	60.44
Granted	178,385	$	32.03
Vested	—	$	—
Forfeited or expired	(30,345)	$	56.88
Performance Stock outstanding at March 31, 2023	320,184	$	44.95

Schedule of Share-based Payment Awards, Performance Shares, Valuation Assumptions

The following table indicates the weighted-average assumptions used in estimating fair value:

	For the Three Months Ended
	March 31, 2023			April 1, 2022
Expected term (years)	2.9			2.9
Expected volatility	41.2		%	39.4		%
Risk-free interest rate	4.4		%	1.7		%
Expected dividend yield	3.3		%	1.9		%
Per share fair value of performance stock granted	$	38.83		$	68.10