Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Other Employee Benefits (Tables)

v3.24.0.1
Stock-Based Compensation and Other Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2023
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, 2022 4,533  45.799 
Granted 170  41.871 
Exercised (246) 9.900 
Forfeited (193) 62.365 
Expired (9) 63.311 
Outstanding at December 31, 2023 4,255  $ 46.932  6.6 years $ 27,539 
Options exercisable at December 31, 2023 1,867  $ 25.241  5.3 years $ 25,775 
Expected to vest at December 31, 2023 2,387  $ 63.900  7.6 years $ 1,764 
 
The following table sets forth additional disclosures about our plan:
Year Ended December 31,
2023 2022 2021
Aggregate intrinsic value of options exercised $ 8,511  $ 9,775  $ 33,494 
Cash received from stock option exercises $ 2,438  $ 3,954  $ 5,563 
Weighted-average fair value of stock options granted $ 23.99  $ 37.87  $ 28.94 
Stock-based compensation expense (1)
$ 10,318  $ 15,046  $ 8,716 
Income tax benefit from stock-based compensation expense $ 1,102  $ 659  $ 4,932 
(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,
  2023 2022   2021
Expected dividend yield —% —% —%
Risk-free interest rate
3.35% -4.44%
1.69%-3.82%
0.92%-1.46%
Expected volatility
54%-56%
51%-53%
48%-50%
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, 2022 13  $ 52.94 
Granted 66  45.33 
Vested (23) 47.83 
Forfeited (4) 48.39 
Outstanding at December 31, 2023 52  $ 45.90 
Schedule of Defined Contribution Plan Disclosures
The following table sets forth our matching contributions under the plans:
Year Ended December 31,
2023 2022 2021
401(k) plan $ 7,561  $ 6,974  $ 6,189 
Group Personal Pension Plan 652  290  252 
Registered Retirement Savings Plan 429  406  405 
Total matching contributions $ 8,642  $ 7,670  $ 6,846