Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Summary of Activity

The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:

	Three Months Ended March 31,
Restricted Shares and Performance Based Shares	2022			2021
Expected quarterly dividends per share	$	0.3475		$	0.3275
Risk-free interest rate	1.46		%	0.32		%
Market-Based Shares
Dividend yield	—		%	2.76		%
Expected volatility	—		%	33.69		%
Risk-free interest rate	—		%	0.29		%

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the three months ended March 31, 2022:

	Restricted Stock
	Shares	Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2021	167,270	$	43.71
Granted	171,919	40.66
Released	(152,740)	41.80
Forfeited	(682)	40.27
Outstanding at March 31, 2022	185,767	$	45.64

The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:

	Three Months Ended March 31,
Restricted Stock	2022		2021
Weighted-average grant date fair value	$	40.66	$	43.68
Total fair value of restricted shares that vested (in thousands)	$	6,906	$	8,967