v3.22.4
OPTIONS AND AWARDS (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions :
Grant YearOptions GrantedWeighted Average Risk-Free RateExpected LifeWeighted Average VolatilityWeighted Average Dividend Yield
20225812.8%6.2 years42.1%0.3%
20216211.0%6.2 years42.4%0.3%
20206690.6%6.2 years39.4%0.4%
Schedule of Weighted Average Grant Date Fair Value and Exercise Price of Options
Grant YearGrantedWeighted Average Exercise PriceWeighted Average Fair Value of Options
2022581$85.74 $37.83 
2021621$80.19 $32.82 
2020669$52.20 $19.52 
Schedule of Employee Stock Option Roll Forward
The following table represents the employee stock option activity during the year ended December 31, 2022, 2021 and 2020:
Number of Options OutstandingWeighted Average
Exercise Price
Number of
Options Vested
Weighted Average Exercise Price of Options Vested
January 1, 20204,428 $20.85 2,557 $12.82 
Granted669 52.20 
Forfeited(80)33.68 
Exercised(979)12.93 
December 31, 20204,038 $27.71 2,148 $16.66 
Granted621 80.19 
Forfeited(105)44.76 
Exercised(516)17.80 
December 31, 20214,038 $36.60 2,183 $21.02 
Granted581 85.74 — — 
Forfeited(98)59.52 — — 
Exercised(688)18.43 — — 
December 31, 20223,833 $46.72 2,069 $28.87 
Share-based Payment Arrangement, Option, Exercise Price Range
The following summary information reflects stock options outstanding, vested and related details as of December 31, 2022:
Stock Options OutstandingStock Options Vested
 
Number OutstandingBlack-Scholes Fair ValueRemaining Contractual Life (Years)Vested and Exercisable
Year of GrantExercise Price
20136.76-9.7465 274 165 
20148.94-16.05399 1,930 2399 
201518.20-21.39211 1,645 3211 
201615.93-16.86198 1,162 4198 
201715.80-19.41236 1,387 5236 
201822.49-32.71449 4,341 6330 
201941.07-45.76590 9,275 7324 
202044.84-59.49545 10,734 8197 
202173.47-83.64567 18,597 9109 
2022$79.79$94.88573 21,689 10— 
TOTAL 3,833 $71,034  2,069 
Schedule of Aggregate Intrinsic Value of Options
The aggregate intrinsic value of options outstanding, vested and expected to vest as of December 31, 2022, 2021 and 2020 is as follows:
December 31,
Options202220212020
Outstanding$183,593 $191,242 $182,552 
Vested136,000 137,382 120,867 
Expected to vest43,232 48,548 53,366 
Schedule of Nonvested Restricted Stock Awards :
Non-Vested Restricted AwardsWeighted Average Grant Date Fair Value
Nonvested at January 1, 2020610 $31.35 
Granted281 48.73 
Vested(280)32.84 
Forfeited(20)31.71 
Nonvested at December 31, 2020591 $38.90 
Granted222 81.65 
Vested(244)47.45 
Forfeited(20)45.64 
Nonvested at December 31, 2021549 $52.16 
Granted233 81.57 
Vested(269)54.06 
Forfeited(26)57.29 
Nonvested at December 31, 2022487 $64.92 
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense recognized for the Company's equity incentive plans and long-term incentive plan for the years ended December 31, 2022, 2021, and 2020 was as follows:

Year Ended December 31,
 202220212020
Stock-based compensation expense related to stock options$11,361 $8,459 $6,132 
Stock-based compensation expense related to restricted stock awards9,920 8,385 7,373 
Stock-based compensation expense related to stock options and restricted stock awards to non-employee directors1,439 1,834 1,019 
TOTAL$22,720 $18,678 $14,524