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Share-based Arrangements (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Stock Option Activity Stock option activity was as follows:
For the Three Months EndedFor the Six Months Ended
June 30, 2023June 30, 2023
OptionsWeighted - average
exercise price
OptionsWeighted - average
exercise price
Options outstanding at beginning of period686,721 $54.51 710,782 $54.12 
Granted— $— — $— 
Exercised— $— — $— 
Forfeited or expired(70,979)$56.22 (95,040)$52.89 
Options outstanding at June 30, 2023
615,742 $54.31 615,742 $54.31 
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 six-month fiscal periods ended June 30, 2023 and July 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 EndedFor the Six Months Ended
June 30, 2023June 30, 2023
 Restricted  StockWeighted-
average grant
date fair value
Restricted  StockWeighted-
average grant
date fair value
Restricted Stock outstanding at beginning of period195,267 $34.51 159,521 $45.78 
Granted38,232 $22.76 140,832 $24.57 
Vested(2,244)$34.98 (64,732)$46.71 
Forfeited or expired(4,059)$31.70 (8,425)$39.89 
Restricted Stock outstanding at June 30, 2023
227,196 $32.58 227,196 $32.58 
16. SHARE-BASED ARRANGEMENTS (CONTINUED)
Share-based Payment Arrangement, Performance Shares, Activity Performance stock unit activity was as follows:
For the Three Months EndedFor the Six Months Ended
June 30, 2023June 30, 2023
 Performance StockWeighted-
average grant
date fair value
Performance StockWeighted-
average grant
date fair value
Performance Stock outstanding at beginning of period320,184 $44.95 172,144 $60.44 
Granted— $— 178,385 $32.03 
Vested— $— — $— 
Forfeited or expired(5,632)$42.32 (35,977)$54.60 
Performance Stock outstanding at June 30, 2023
314,552 $45.00 314,552 $45.00 
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 Six Months Ended
 June 30, 2023July 1, 2022
Expected term (years)2.92.9
Expected volatility41.2 %39.4 %
Risk-free interest rate4.4 %1.7 %
Expected dividend yield3.3 %1.9 %
Per share fair value of performance stock granted$38.83$68.10