Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Other Employee Benefits (Tables)

v3.22.0.1
Stock-Based Compensation and Other Employee Benefits (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity
The following table summarizes the collective activity under the plans:
Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value
Outstanding at December 31, 2018 3,305  $ 8.050 
Granted 1,330  14.026 
Exercised (916) 7.362 
Forfeited (210) 8.070 
Expired (4) 9.904 
Outstanding at December 31, 2019 3,505  10.524 
Granted 406  25.668 
Exercised (946) 9.491 
Forfeited (49) 13.251 
Expired —  — 
Outstanding at December 31, 2020 2,916  12.919 
Granted 1,342  58.826 
Exercised (588) 9.482 
Forfeited (134) 28.261 
Expired (4) 22.530 
Outstanding at December 31, 2021 3,532  $ 30.336  7.6 years $ 183,737 
Options exercisable at December 31, 2021 693  $ 9.148  4.6 years $ 50,094 
Expected to vest at December 31, 2021 2,839  $ 35.508  8.4 years $ 133,643 
 
The following table sets forth additional disclosures about our plans:
Year Ended December 31,
2021 2020 2019
Aggregate intrinsic value of options exercised $ 33,494  $ 19,762  $ 7,154 
Cash received from stock option exercises $ 5,563  $ 8,995  $ 6,742 
Weighted-average fair value of stock options granted $ 28.94  $ 11.52  $ 6.33 
Stock-based compensation expense (1)
$ 8,716  $ 1,933  $ 1,620 
(1) Included in selling, general, and administrative expenses in the accompanying consolidated statements of income and includes expense in connection with our ESPP.
Schedule of Stock Options Valuation Assumptions
The following table sets forth the significant assumptions used in the model:
  Year Ended December 31,
  2021 2020   2019
Expected dividend yield —% —% —%
Risk-free interest rate
0.92% -1.46%
0.35%-0.76%
1.60%-2.39%
Expected volatility
48%-50%
43%-48%
43%-44%
Expected life 6.5 years 6.5 years 6.5 years
Schedule of Defined Contribution Plan Disclosures
The following table sets forth our matching contributions under the plans:
Year Ended December 31,
2021 2020 2019
401(k) plan $ 6,189  $ 5,650  $ 5,452 
Group Personal Pension Plan 252  202  190 
Registered Retirement Savings Plan 405  348  356 
Total matching contributions $ 6,846  $ 6,200  $ 5,998