Stock-based Compensation

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Equity Incentive Plan

The following table lists the number of annual Restricted Stock Awards (RSAs) granted and canceled during the three and nine months ended September 30, 2019 and 2018:



	Three Months Ended September 30		Nine Months Ended September 30
	2019	2018	2019	2018
RSAs granted	—	1,138	36,183	47,273
RSAs canceled	2,739	3,214	14,394	16,520

During the first nine months of 2019 and 2018, the RSAs granted were valued at $52.83 and $35.40 per share, respectively, based upon the fair value of the Company’s common stock on the date of grant.

The following table lists the number of Restricted Stock Unit Awards (RSUs) granted, issued, and canceled during the three and nine months ended September 30, 2019 and 2018:



	Three Months Ended September 30		Nine Months Ended September 30
	2019	2018	2019	2018
RSUs granted	—	—	26,473	28,594
RSUs issued	—	—	62,726	48,753
RSUs canceled	—	—	31,177	24,009

The 2019 and 2018 awards may be earned upon completion of the three-year performance period and are recognized as expense ratably over the period using a fair value of $52.83 per share and $35.40 per share, respectively, and an estimate of RSUs earned during the period.

The Company has recorded compensation costs for the RSAs and RSUs in administrative and general operating expenses in the amount of $5.3 million and $2.3 million for the nine months ended September 30, 2019 and 2018, respectively. For the three months ended September 30, 2019 and 2018, the Company has recorded compensation costs for the RSAs and RSUs in the amount of $1.4 million and $0.8 million, respectively.