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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based CompensationWe grant stock-based compensation awards, including restricted stock units, phantom stock, and unrestricted stock units, under the Second Amended and Restated 2010 Stock Incentive Plan (Stock Incentive Plan). Prior to December 31, 2020, stock options were also granted as part of the stock-based compensation awards. In the Stock Incentive Plan, we have 12,623,538 shares of common stock reserved and authorized for issuance subject to stock splits, dividends, and other similar events. At March 31, 2022, 4,684,698 shares were available for grant. We issue new shares of common stock upon the exercise of stock options or when vesting conditions on restricted stock units are fully satisfied. These shares are subject to a fungible share provision such that the authorized share available for grant is reduced by (i) one share for every one share subject to a stock
option or share appreciation right granted under the Plan and (ii) 1.7 shares for every one share of common stock that was subject to an award other than an option or share appreciation right.

We also award phantom stock units, which are settled in cash upon vesting and accounted for as liability-based awards, with no impact to the shares available for grant.

In addition, we maintain the Employee Stock Purchase Plan (ESPP), for which 129,082 shares of common stock were available for future issuance at March 31, 2022.

ESPP activity and stock-based grants other than stock options and restricted stock units were not significant for the three months ended March 31, 2022 and 2021.

Stock-Based Compensation Expense
Total stock-based compensation expense and the related tax benefit were as follows:
Three Months Ended March 31,
In thousands20222021
Stock options$284 $340 
Restricted stock units5,584 5,931 
Unrestricted stock awards259 227 
Phantom stock units190 1,117 
Total stock-based compensation$6,317 $7,615 
Related tax benefit$1,369 $1,363 

Stock Options
A summary of our stock option activity is as follows:
SharesWeighted
Average Exercise
Price per Share		Weighted Average
Remaining
Contractual Life		Aggregate
Intrinsic Value		Weighted
Average Grant
Date Fair Value
(In thousands)(Years)(In thousands)
Outstanding, January 1, 2021433 $61.95 6.9$14,697 
Granted— 
Exercised(24)67.04 926 
Forfeited(4)80.90 
Outstanding, March 31, 2021405 $61.48 6.7$11,012 
Outstanding, January 1, 2022393 $61.18 5.9$4,737 
Granted— $— 
Exercised— 
Forfeited(2)87.27 
Outstanding, March 31, 2022391 $61.03 5.5$2,173 
Exercisable, March 31, 2022340 $58.04 5.2$2,173 

At March 31, 2022, total unrecognized stock-based compensation expense related to nonvested stock options was $0.7 million, which is expected to be recognized over a weighted average period of approximately 0.8 years.
Restricted Stock Units
The following table summarizes restricted stock unit activity:
In thousands, except fair valueNumber of
Restricted Stock Units		Weighted
Average Grant
Date Fair Value		Aggregate
Intrinsic Value
Outstanding, January 1, 2021544 
Granted186 $100.28 
Released (1)
(177)$18,007 
Forfeited(10)
Outstanding, March 31, 2021543 
Outstanding, January 1, 2022430 $85.77 
Granted332 53.95 
Released (1)
(149)86.83 $8,025 
Forfeited(25)73.94 
Outstanding, March 31, 2022588 68.12 
Vested but not released, March 31, 202211 $563 
(1)     Shares released is presented as gross shares and does not reflect shares withheld by us for employee payroll tax obligations.

At March 31, 2022, total unrecognized compensation expense on restricted stock units was $39.0 million, which is expected to be recognized over a weighted average period of approximately 1.9 years.

The weighted average assumptions used to estimate the fair value of performance-based restricted stock units granted with a service and market condition and the resulting weighted average fair value are as follows:
Three Months Ended March 31,
20222021
Expected volatility55.7 %50.5 %
Risk-free interest rate1.7 %0.2 %
Expected term (years)2.92.9
Weighted average fair value$57.88 $113.75