STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based compensation, restricted stock quantity and vesting conditions

The following table presents a summary of the quantity and vesting conditions for stock-based units granted to the Company's employees for the six months ended June 30, 2019:



Vesting conditions		Number of Restricted Stock Units Granted
Performance and service conditions - Type 1 ⁽¹⁾		19,500
Performance and service conditions - Type 2 ⁽¹⁾		31,334
Total shares of stock award granted		50,834


(1)	The performance conditions with respect to restricted stock units may be satisfied as follows:


(a)	For employees from the Americas, APAC, and Europe 70% of the restricted stock units may be earned on the basis of performance as measured by a "regional adjusted EBITDA," and 30% of the restricted stock units may be earned on the basis of performance as measured by a "group adjusted EBITDA"; and


(b)	For employees from the Corporate office 75% of the restricted stock units may be earned on the basis of performance as measured by a "group adjusted EBITDA," and 25% of the restricted stock units may be earned on the basis of performance as measured by a "corporate costs" target.

To the extent restricted stock units are earned on the basis of performance, such restricted stock units will vest on the basis of service as follows:


(a)	33% and 66.6% for Type 1 and Type 2, respectively, of the restricted stock units will vest on the first anniversary of the grant date;


(b)	33% and 16.7% for Type 1 and Type 2, respectively, of the restricted stock units will vest on the second anniversary of the grant date; and


(c)	34% and 16.7% for Type 1 and Type 2, respectively, of the restricted stock units will vest on the third anniversary of the grant date; provided that, in each case, the employee remains employed by the Company from the grant date through the applicable service vesting date.

Schedule of stock-based compensation expense

For the three and six months ended June 30, 2019 and 2018, the Company’s stock-based compensation expense related to stock options and restricted stock units was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Stock options	$	—	$	—	$	—	$	—
Restricted stock units	425		178		609		874
Total	$	425	$	178	$	609	$	874

Changes in stock options

Changes in the Company’s stock options for the six months ended June 30, 2019 and 2018 were as follows:



	Six Months Ended June 30,
	2019			2018
	Number of Options	Weighted Average Exercise Price per Share		Number of Options	Weighted Average Exercise Price per Share
Options outstanding at January 1,	5,000	$	24.90	10,000	$	38.55
Expired/forfeited	—	—		—	—
Options outstanding at June 30,	5,000	$	24.90	10,000	$	38.55
Options exercisable at June 30,	5,000	$	24.90	10,000	$	38.55

Changes in restricted stock units

Changes in the Company’s restricted stock units for the six months ended June 30, 2019 and 2018 were as follows:



	Six Months Ended June 30,
	2019				2018
	Number of Restricted Stock Units		Weighted Average Grant-Date Fair Value		Number of Restricted Stock Units		Weighted Average Grant-Date Fair Value
Unvested restricted stock units at January 1,	57,773		$	15.68	108,894		$	11.60
Granted	78,978		$	15.24	52,151		$	17.40
Shares earned above target ^(a)	723		$	17.00	24,486		$	10.00
Vested	(55,451	)	$	15.19	(125,645	)	$	11.90
Forfeited	(15,090	)	$	15.38	(752	)	$	10.00
Unvested restricted stock units at June 30,	66,933		$	15.22	59,134		$	15.50