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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The components of the Company’s share-based compensation expense for the three months ended March 31, 2023 and 2022 are as follows:
Three Months Ended March 31,
20232022
(in thousands)
Stock options$212 $314 
Restricted stock, restricted stock units and deferred stock units1,514 1,785 
Performance stock units247 199 
Employee Stock Purchase Plan85 98 
Total pre-tax share-based compensation expense charged against income$2,058 $2,396 

The following table summarizes the components of share-based compensation expense included within the Consolidated Statements of Comprehensive Income for the three months ended March 31, 2023 and 2022:

Three Months Ended March 31,
20232022
(in thousands)
Selling, general & administrative expense$2,033 $2,365 
Costs of services provided25 31 
Total share-based compensation expense$2,058 $2,396 
Schedule of Other Information of Stock Option Plans
A summary of stock options outstanding under the 2020 Plan and the 2012 Plan as of December 31, 2022 and changes during the three months ended March 31, 2023 are as follows:
Stock Options Outstanding
Number of SharesWeighted Average Exercise Price
(in thousands)
December 31, 20222,375 $31.56 
Granted207 $13.72 
Exercised— $— 
Forfeited— $— 
Expired(132)$24.14 
March 31, 20232,450 $30.45 
Schedule of Assumption For Fair Value of Options Granted
The fair value of stock option awards granted in 2023 and 2022 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Three Months Ended March 31,
20232022
Risk-free interest rate4.0 %1.5 %
Weighted average expected life6.9 years6.7 years
Expected volatility39.5 %36.6 %
Dividend yield— %4.6 %
Schedule of Summarized Information of Stock Options Outstanding
The following table summarizes other information about the stock options at March 31, 2023:
March 31, 2023
(amounts in thousands, except per share data)
Outstanding:
Aggregate intrinsic value$31 
Weighted average remaining contractual life5.3 years
Exercisable:
Number of options1,713 
Weighted average exercise price$34.72 
Aggregate intrinsic value$— 
Weighted average remaining contractual life3.9 years
Schedule of Outstanding Restricted Stock Units
A summary of the outstanding restricted stock units as of December 31, 2022 and changes during the three months ended March 31, 2023 is as follows:
Restricted Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 2022825 $24.37 
Granted509 $13.72 
Vested(237)$27.82 
Forfeited(5)$22.28 
March 31, 20231,092 $18.67 
Schedule of Outstanding Performance Stock Units
A summary of the outstanding PSUs as of December 31, 2022 and changes during the three months ended March 31, 2023 is as follows:

Performance Stock Units
NumberWeighted Average Grant Date Fair Value
(in thousands)
December 31, 202295 $26.01 
Granted80 $16.20 
Vested— $— 
Forfeited— $— 
March 31, 2023175 $21.52 
Schedule of Options Granted Estimated Expense Valuation Assumptions
The expense associated with the options granted under the ESPP during the three months ended March 31, 2023 and 2022 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:
Three Months Ended March 31,
20232022
Risk-free interest rate4.8%0.4%
Weighted average expected life (years)1.01.0
Expected volatility42.9%36.9%
Dividend yield7.1%4.7%
Schedule of ESPP Annual Offerings
The following table summarizes information about the SERP during the three months ended March 31, 2023 and 2022:
Three Months Ended March 31,
 20232022
(in thousands)
SERP expense 1
$157 $157 
Unrealized gain (loss) recorded in SERP liability account$1,546 $(3,785)
1.Both the SERP match and the deferrals are included in the “selling, general and administrative” caption in the Consolidated Statements of Comprehensive Income.