| Schedule of Restricted Stock Activity |
The following tables summarizes activity for the six months ended June 30, 2023 and 2022:
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Number of
Unvested
Restricted Stock Units |
|
Weighted
Average
Grant Date
Fair Value |
|
Number of
Unvested
Performance Vesting Restricted Stock Units |
|
Weighted
Average
Grant Date
Fair Value |
| Unvested shares as of January 1, 2023 |
197,772 |
|
|
$ |
77.49 |
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|
190,804 |
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|
$ |
52.15 |
|
| Granted |
43,415 |
|
|
77.84 |
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|
68,726 |
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|
56.57 |
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| Vested |
(11,608) |
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|
70.86 |
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— |
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|
— |
|
| Forfeited/canceled |
(971) |
|
|
87.68 |
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|
(5,069) |
|
|
47.67 |
|
| Unvested shares as of March 31, 2023 |
228,608 |
|
|
$ |
77.85 |
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|
254,461 |
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|
$ |
53.43 |
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| Granted |
55,041 |
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|
94.53 |
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|
15,094 |
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|
66.66 |
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| Vested |
(43,088) |
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|
86.28 |
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— |
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— |
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| Forfeited/canceled |
(1,401) |
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|
89.08 |
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|
(10,731) |
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|
50.69 |
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| Unvested shares as of June 30, 2023 |
239,160 |
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$ |
80.10 |
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|
258,824 |
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$ |
54.32 |
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|
Number of
Unvested
Restricted Stock Units |
|
Weighted
Average
Grant Date
Fair Value |
|
Number of
Unvested
Performance Vesting Restricted Stock Units |
|
Weighted
Average
Grant Date
Fair Value |
| Unvested shares as of January 1, 2022 |
198,413 |
|
|
$ |
66.04 |
|
|
153,138 |
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|
$ |
48.54 |
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| Granted |
2,154 |
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|
73.83 |
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|
— |
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— |
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| Vested |
(3,074) |
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|
65.75 |
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— |
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— |
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| Forfeited/canceled |
(1,157) |
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|
66.89 |
|
|
— |
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|
— |
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| Unvested shares as of March 31, 2022 |
196,336 |
|
|
$ |
67.16 |
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|
153,138 |
|
|
$ |
48.54 |
|
| Granted |
76,038 |
|
|
97.55 |
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|
37,666 |
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|
66.82 |
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| Vested |
(10,817) |
|
|
63.53 |
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— |
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— |
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| Forfeited/canceled |
(3,752) |
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|
75.70 |
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— |
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— |
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| Unvested shares as of June 30, 2022 |
257,805 |
|
|
$ |
75.37 |
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|
190,804 |
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$ |
52.15 |
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| Schedule of Grant Date Fair Value of Awards Granted |
The table below summarizes the assumptions used in the Monte Carlo simulation to determine the grant date fair value of awards granted during the six months ended June 30, 2023:
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| Grant date |
January 24, 2023 |
March 3, 2023 |
April 3, 2023 |
| Forecast period (years) |
3 |
3 |
3 |
| Risk-free interest rates |
3.88% |
4.64% |
3.79% |
| Implied equity volatility |
87.2% |
86.4% |
70.8% |
| Stock price on the date of grant |
$72.99 |
$82.20 |
$79.50 |
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