STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2020

Shareholders' Equity and Share-based Payments [Text Block]

NOTE 9 — STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION

Dividends

On February 18, 2020, the Board of Directors declared a cash dividend on the Company’s common stock of $0.09 per share. The dividend was payable to stockholders of record as of March 19, 2020 and was paid on April 9, 2020. The Company’s current intent is to pay a continuing dividend on a quarterly basis. However, future declarations of dividends are subject to the final determination of the Company’s Board of Directors.

Stock-Based Compensation

The Company’s stock option activity for the three months ended March 31, 2020 is as follows:


Stock Options	Shares (in thousands)	Weighted Average Exercise Price
Outstanding at December 31, 2019	3,793	$	20.17
Granted	1,507	23.09
Exercised	(60)	16.49
Canceled or expired	(550)	24.43
Outstanding at March 31, 2020	4,690	$	20.66

The Company had $14.8 million of total unrecognized compensation costs related to stock options at March 31, 2020 that are expected to be recognized over a weighted-average period of 3.33 years.

The Company’s restricted share activity for the three months ended March 31, 2020 is as follows:


Restricted Stock Awards (RSAs)	Shares (in thousands)	Weighted Average Grant Price
Non-vested at December 31, 2019	810	$	22.28
Granted	407	23.10
Vested	(277)	21.47
Cancelled or expired	(11)	22.35
Non-vested at March 31, 2020	929	$	22.88


Restricted Stock Units (RSUs)			Shares (in thousands)
Non-vested at December 31, 2019			522
Granted			64
Vested			(45)
Cancelled or expired			—
Non-vested at March 31, 2020			541

As of March 31, 2020, there were $22.1 million and $3.6 million of unrecognized compensation costs related to RSAs and RSUs, respectively. These costs are expected to be recognized over a weighted average-period of 3.03 years for the RSAs and 2.47 years for the RSUs. The Company issues a small number of cash-settled RSUs pursuant to the Company’s equity incentive plan in certain foreign countries. These grants do not result in the issuance of common stock and are considered immaterial by the Company.

The following are the stock-based compensation costs recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income (in thousands):


	Three Months Ended March 31,
	2020		2019
Cost of revenue	$	533	$	460
Research and development	142		(14)
Selling, general and administrative	2,042		2,027
Stock-based compensation costs reflected in net income	$	2,717	$	2,473