Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.19.3.a.u2
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Variables Used in Black-Scholes Option Pricing Model to Determine Estimated Grant Date Fair Value for Options Granted The following are the variables we used in the Black-Scholes option pricing model to determine the estimated grant date fair value for options granted under the 2009 Incentive Plan for the year presented:

 

 

2018

 

Expected volatility

 

41%

 

Weighted-average volatility

 

41%

 

Expected dividends

 

—%

 

Expected term (in years)

 

 

6.6

 

Risk-free rate

 

2.86%

 

 
Summary of Activity

The table below presents a summary of activity under the 2009 Incentive Plan and the 2019 Incentive Plan, as of December 31, 2019, and changes during the year then ended:

(in thousands, except share and per share amounts)

 

Shares

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term (Years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at January 1, 2019

 

 

1,584,225

 

 

$

7.97

 

 

 

 

 

 

 

 

 

Option grants

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Restricted stock unit grants

 

 

41,100

 

 

 

—

 

 

 

 

 

 

 

 

 

Exercised options

 

 

(30,000

)

 

 

7.82

 

 

 

 

 

 

 

 

 

Cancelled or forfeited options

 

 

(123,361

)

 

 

9.04

 

 

 

 

 

 

 

 

 

Cancelled or forfeited restricted stock units

 

 

(136,930

)

 

 

—

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2019

 

 

1,335,034

 

 

$

7.60

 

 

 

3.1

 

 

$

8,571,406

 

Exercisable options at December 31, 2019

 

 

330,096

 

 

$

7.65

 

 

 

5.8

 

 

$

342,489

 
Summary of Valuation Data

The table below presents our valuation data:

(in thousands, except per share amounts)

 

2019

 

 

2018

 

Valuation Data:

 

 

 

 

 

 

 

 

Weighted-average fair value (per share)

 

$

6.41

 

 

$

14.09

 

Total stock-based compensation expense

 

$

1,812

 

 

$

1,650

 

Total income tax impact on provision

 

$

372

 

 

$

346

 

 
Summary of Outstanding RSU's by Vest Date

The table below presents our outstanding RSU’s by vest date:

Vest Date

 

RSU's

 

March 16, 2020

 

 

311,712

 

April 30, 2020

 

 

22,620

 

January 1, 2021

 

 

8,196

 

March 31, 2022

 

 

366,534

 

January 1, 2023

 

 

8,196

 

March 31, 2024

 

 

274,580

 

 

 

 

991,838