XML 20 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
The Company has two stock-based compensation plans under which outstanding equity awards have been granted, the 2008 Equity Incentive Plan ("2008 EIP") and the 2017 Equity Incentive Compensation Plan ("2017 EICP") (collectively, the "Plans"). Awards granted outside of the Plans are referred to as inducement awards.
The Company may grant awards that include stock options (both incentive stock options and nonqualified stock options) and nonvested stock awards (stock appreciation rights, restricted stock, deferred stock, restricted stock units, performance units, performance shares, dividend equivalents, bonus shares, and other stock-based or cash-based awards). Stock options typically vest in equal annual increments over the vesting period, which typically is three years for employees and one year for directors. Nonvested stock awards with time-based vesting typically vest in equal annual increments over the vesting period, which typically is three years for employees and one year for directors. Nonvested stock awards with performance-based vesting criteria vest in accordance with specific performance criteria associated with the awards.
The Company granted stock options and nonvested stock awards with an aggregate fair value of approximately $0.8 million and $3.4 million during the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018, there were approximately 3.1 million shares available for future grant under the 2017 EICP.
    
Stock-based compensation expense for the three months ended March 31, 2018 and 2017 was $1.9 million and $1.6 million, respectively, before income tax benefits, for all the Company's equity awards and is included in Selling, general and administrative expenses in the Company's Consolidated Statement of Operations. As of March 31, 2018, there was $5.7 million of unrecognized stock-based compensation expense related to the Company's equity awards which will be recognized over approximately 2.2 years.

In the three months ended March 31, 2018, the Company issued 483,623 shares of common stock and paid $5.4 million in long-term incentive compensation related to the vesting of its performance-based restricted stock awards granted in 2016.