Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Other Employee Benefits (Tables)

v3.22.4
Stock-Based Compensation and Other Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2021 3,532  30.336 
Granted 1,605  72.691 
Exercised (196) 20.186 
Forfeited (370) 19.503 
Expired (38) 22.974 
Outstanding at December 31, 2022 4,533  $ 45.799  7.6 years $ 88,164 
Options exercisable at December 31, 2022 1,629  $ 17.511  5.7 years $ 66,600 
Expected to vest at December 31, 2022 2,904  $ 61.673  8.6 years $ 21,564 
 
The following table sets forth additional disclosures about our plans:
Year Ended December 31,
2022 2021 2020
Aggregate intrinsic value of options exercised $ 9,775  $ 33,494  $ 19,762 
Cash received from stock option exercises $ 3,954  $ 5,563  $ 8,995 
Weighted-average fair value of stock options granted $ 37.87  $ 28.94  $ 11.52 
Stock-based compensation expense (1)
$ 15,046  $ 8,716  $ 1,933 
Income tax benefit from stock-based compensation expense $ 659  $ 4,932  $ 2,826 
(1) Included in selling, general, and administrative expenses in the accompanying consolidated statements of income and includes expense in connection with our ESPP and RSUs.
Schedule of Stock Options Valuation Assumptions
The following table sets forth the significant assumptions used in the model:
  Year Ended December 31,
  2022 2021   2020
Expected dividend yield —% —% —%
Risk-free interest rate
1.69% -3.82%
0.92%-1.46%
0.35%-0.76%
Expected volatility
51%-53%
48%-50%
43%-48%
Expected life 6.5 years 6.5 years 6.5 years
Schedule of Restricted Stock Units
The following table summarizes the activity under the plan:
Number of Options Weighted-Average Grant Date Fair Value Per Share
Outstanding at December 31, 2021 —  $ — 
Granted 13  52.94 
Outstanding at December 31, 2022 13  $ 52.94 
Schedule of Defined Contribution Plan Disclosures
The following table sets forth our matching contributions under the plans:
Year Ended December 31,
2022 2021 2020
401(k) plan $ 6,974  $ 6,189  $ 5,650 
Group Personal Pension Plan 290  252  202 
Registered Retirement Savings Plan 406  405  348 
Total matching contributions $ 7,670  $ 6,846  $ 6,200