v3.25.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Company's Stock Option Plan Activity

A summary of the stock option activity for the three months ended March 31, 2025 and 2024 is as follows (option amounts not in thousands):

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

Intrinsic

 

 

 

Options

 

 

Price

 

 

Term

 

Value

 

Outstanding at January 1, 2025

 

 

590,000

 

 

$

51.54

 

 

4.9 years

 

$

37,523

 

Outstanding at March 31, 2025

 

 

590,000

 

 

$

51.54

 

 

4.6 years

 

$

58,367

 

Exercisable at March 31, 2025

 

 

590,000

 

 

$

51.54

 

 

4.6 years

 

$

58,367

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2024

 

 

590,000

 

 

$

51.54

 

 

5.9 years

 

$

21,156

 

Outstanding at March 31, 2024

 

 

590,000

 

 

$

51.54

 

 

5.6 years

 

$

38,077

 

Exercisable at March 31, 2024

 

 

590,000

 

 

$

51.54

 

 

5.6 years

 

$

38,077

 

Information with Respect to Unvested Restricted Stock Awards and Incentive Plan

Information with respect to the activity of unvested restricted stock awards during the three months ended March 31, 2025 and 2024 is as follows:

 

 

 

Number of

 

 

Weighted

 

 

 

Restricted

 

 

Average

 

 

 

Stock

 

 

Grant Date

 

 

 

Awards

 

 

Fair Value

 

Nonvested at January 1, 2025

 

 

486,115

 

 

$

63.00

 

Granted

 

 

1,000

 

 

$

138.94

 

Vested

 

 

(18,405

)

 

$

61.38

 

Forfeited

 

 

(750

)

 

$

109.72

 

Nonvested at March 31, 2025

 

 

467,960

 

 

$

63.15

 

 

 

 

 

 

 

Nonvested at January 1, 2024

 

 

271,417

 

 

$

37.12

 

Vested

 

 

(29,690

)

 

$

56.05

 

Forfeited

 

 

(200

)

 

$

51.87

 

Nonvested at March 31, 2024

 

 

241,527

 

 

$

34.78

 

 

Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three months ended March 31, 2025 and 2024.

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2025

 

 

2024

 

Deferred tax benefits recognized

 

$

201

 

 

$

99

 

Tax benefits realized for restricted stock and paid dividends

 

$

608

 

 

$

511

 

Fair value of vested restricted stock

 

$

1,130

 

 

$

1,664