Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Other Employee Benefits (Tables)

v3.20.4
Stock-Based Compensation and Other Employee Benefits (Tables)
12 Months Ended
Dec. 31, 2020
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, 2017 3,834  $ 7.367 
Granted 518  10.878 
Exercised (909) 7.367 
Forfeited (87) 4.726 
Expired (51) 9.146 
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  7.1 years $ 114,659 
Options exercisable at December 31, 2020 1,004  $ 7.877  4.6 years $ 44,555 
Expected to vest at December 31, 2020 1,912  $ 15.568  8.4 years $ 70,103 
 
The following table sets forth additional disclosures about our plans:
Year Ended December 31,
2020 2019 2018
Aggregate intrinsic value of options exercised $ 19,762  $ 7,154  $ 5,588 
Cash received from stock option exercises $ 8,995  $ 6,742  $ 6,696 
Weighted-average fair value of stock options granted $ 11.52  $ 6.33  $ 5.20 
Stock-based compensation expense (1)
$ 1,933  $ 1,620  $ 1,258 
(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,
  2020 2019   2018
Expected dividend yield —% —% —%
Risk-free interest rate
0.35% -0.76%
1.60%-2.39%
2.71%-3.00%
Expected volatility
43%-48%
43%-44%
43%-45%
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,
2020 2019 2018
401(k) plan $ 5,650  $ 5,452  $ 4,957 
Group Personal Pension Plan 202  190  161 
Registered Retirement Savings Plan 348  356  351 
Total matching contributions $ 6,200  $ 5,998  $ 5,469