v3.24.0.1
SHARE-BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2023
SHARE-BASED COMPENSATION PLANS  
Schedule of assumptions used for estimating the fair value of share options using the Black-Scholes option-pricing model

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Assumptions:

    

2023

    

2022

    

2021

 

Risk-free interest rate

 

​

4.1

%  

​

1.5

%  

​

0.6

%  

Expected dividend yield

 

​

4.1

%  

​

3.7

%  

​

3.8

%  

Volatility (1)

 

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26.00

%  

​

25.00

%  

​

25.00

%  

Weighted average expected life of the options (2)

 

​

6.0

years

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6.0

years

​

6.0

years

Weighted average grant date fair value of options granted per

share

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$

7.90

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$

8.83

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$

4.62

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Term

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​

10.0

years

​

10.0

years

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10.0

years

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(1)Expected volatility is based upon the Company’s historical daily share prices.

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(2)The expected life is based on the contractual term of the options as well as the weighted average vesting period.
Summary of option activity

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Options

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Weighted Average Strike Price

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Weighted Average Remaining Contractual Term (Years)

 

Balance at December 31, 2022

 

2,537,038

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$

33.10

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6.21

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Options granted

 

408,650

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​

40.25

​

9.00

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Options canceled

 

(38,296)

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​

44.17

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8.44

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Options exercised

 

(144,233)

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18.83

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1.66

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Balance at December 31, 2023

 

2,763,159

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$

34.75

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5.95

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Vested or expected to vest at December 31, 2023

 

2,763,159

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$

34.75

 

5.95

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Exercisable at December 31, 2023

 

1,972,708

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$

31.40

 

5.02

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Schedule of non-vested restricted share activity

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Number of Non-

 

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Vested Restricted

 

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Shares and Performance Units

 

Non-Vested at January 1, 2023

 

340,952

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Granted

 

190,540

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Vested

 

(155,468)

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Forfeited

 

(15,495)

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Non-Vested at December 31, 2023

 

360,529

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Schedule of estimation of the fair value of the awards, the key assumptions

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Assumptions:

    

2023

    

2022

    

2021

 

Risk-free interest rate

 

​

4.2

%  

​

1.0

%  

​

0.2

%  

Volatility (1)

 

​

32.00

%  

​

28.00

%  

​

28.00

%