Annual report pursuant to Section 13 and 15(d)

Stock Plans and Management Compensation (Tables)

v3.20.4
Stock Plans and Management Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Non-Vested Stock Award Activity
The weighted average price per Non-vested stock unit at grant date was $64.13, $49.12 and $59.05 for units granted in 2020, 2019 and 2018, respectively. Non-vested stock unit activity for the year ended December 31, 2020 was as follows:
(in thousands, except grant date fair value) Non-vested Stock Unit Activity Weighted Average Grant Date Fair
Value ($)
Non-vested units, unvested at January 1, 2020 444  53.42 
Awarded 272  64.13 
Forfeited (58) 57.72 
Vested (87) 58.58 
Non-vested units, unvested at December 31, 2020 571  57.31 
SARs and Stock Option Activity
SARs activity for all plans for the years ended December 31, 2020, 2019 and 2018, was as follows:
2020 2019 2018
(in thousands, except exercise price and terms)
SARs
Outstanding		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining Contractual Term		 Aggregate Intrinsic Value
SARs
Outstanding		 Weighted
Average
Exercise
Price		 Aggregate Intrinsic Value
SARs
Outstanding
Weighted
Average
Exercise
Price		 Aggregate Intrinsic Value
Outstanding on January 1 119  $ 21.57  343  $ 16.04  594  $ 14.40 
Exercised (97) $ 21.16  $ 5,353  (224) $ 13.13  $ 10,494  (248) $ 12.10  $ 12,636 
Forfeited —  $ 11.08  0  $ 5.86  (3) $ 17.06 
Outstanding on December 31 22  $ 23.41  1.1 years $ 6,276  119  $ 21.57  $ 4,571  343  $ 16.04  $ 10,439 
Exercisable and Vested on December 31 22  $ 23.41  1.1 years $ 6,276  119  $ 21.57  $ 4,571  343  $ 16.04  $ 10,439 
SARs and Stock Options Outstanding
The following table summarizes information about SARs outstanding as of December 31, 2020:
Outstanding and Exercisable


Exercise
Price


Number
(in thousands)
 Weighted
Average Remaining Years of
Contractual
Life
$14.68 0.6  0.7   years
$21.52 1.4  0.1   years
$23.79 19.7  1.1   years
Fair Value Assumptions for Performance Awards
The fair values of the senior executives' performance share award grants with a TSR modifier at the grant date in 2020, 2019 and 2018 were $64.72, $49.64 and $61.59, respectively, which were estimated using the Monte Carlo valuation model, and incorporated the following assumptions:
2020 2019 2018
Risk-free interest rate 1.4  % 2.9  % 2.4  %
Dividend yield 1.5  % 1.7  % 1.3  %
Volatility factor 46.6  % 41.0  % 38.9  %
Expected life of award 2.9 years 2.9 years 2.9 years
Performance Award Activity
Performance award activity for the year ended December 31, 2020 was as follows:
(in thousands, except grant date fair value) Performance Awards Weighted Average Grant Date Fair Value ($)
Performance awards, unvested at January 1 88  53.55 
Awarded 116  63.13 
Forfeited (37) 57.71 
Vested and earned 45  42.34 
Performance awards, unvested at December 31 212  55.71