Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation and Other Employee Benefits (Tables)

v3.25.0.1
Stock-Based Compensation and Other Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity
The following table summarizes the collective activity under the plan:
Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value
Outstanding at December 31, 2023 4,255  $ 46.932 
Granted 792  23.280 
Exercised (97) 9.666 
Forfeited (227) 63.059 
Expired (86) 46.675 
Outstanding at December 31, 2024 4,637  $ 42.895  6.4 years $ 15,174 
Options exercisable at December 31, 2024 2,098  $ 29.495  4.8 years $ 13,932 
Expected to vest as of December 31, 2024 2,538  $ 53.970  7.8 years $ 1,242 
 
The following table sets forth additional disclosures about our plan:
Year Ended December 31,
2024 2023 2022
Aggregate intrinsic value of options exercised $ 1,602  $ 8,511  $ 9,775 
Cash received from stock option exercises $ 942  $ 2,438  $ 3,954 
Weighted-average fair value of stock options granted $ 14.16  $ 23.99  $ 37.87 
Stock-based compensation expense (1)
$ 14,130  $ 10,318  $ 15,046 
Income tax benefit from stock-based compensation expense $ 105  $ 1,102  $ 659 
(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,
  2024 2023   2022
Expected dividend yield —% —% —%
Risk-free interest rate
3.78% -4.45%
3.35%-4.44%
1.69%-3.82%
Expected volatility
58%-62%
54%-56%
51%-53%
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, 2023 52  $ 45.90 
Granted 122  24.38 
Vested (63) 37.60 
Forfeited (6) 27.98 
Outstanding at December 31, 2024 105  $ 27.02 
Schedule of Defined Contribution Plan Disclosures
The following table sets forth our matching contributions under the plans:
Year Ended December 31,
2024 2023 2022
401(k) plan $ 8,090  $ 7,561  $ 6,974 
Group Personal Pension Plan 574  652  290 
Registered Retirement Savings Plan 454  429  406 
Total matching contributions $ 9,118  $ 8,642  $ 7,670