Performance Awards

Awards, defined as cash, shares or other awards, may be granted to employees under the Commercial Vehicle Group, Inc. 2014 Equity Incentive Plan (the “2014 EIP”). The award is earned and payable based upon the Company’s relative Total Shareholder Return in terms of ranking as compared to the Peer Group over a three-year period (the “Performance Period”). Total Shareholder Return is determined by the percentage change in value (positive or negative) over the applicable measurement period as measured by dividing (A) the sum of (I) the cumulative value of dividends and other distributions paid on the Common Stock (or the publicly traded common stock of the applicable Peer Group company) for the applicable measurement period, and (II) the difference (positive or negative) between each such company’s starting stock price and ending stock price, by (B) the starting stock price. The award is to be paid out at the end of the Performance Period in cash if the employee is employed through the end of the Performance Period. If the employee is not employed as of the payment date, the award will be forfeited. These grants were accounted for as cash settlement awards for which the fair value of the award fluctuates based on the change in Total Shareholder Return in relation to the Peer Group. Performance awards were granted under the 2014 EIP in November 2015 and 2014, and in November 2013 under the Fourth Amended and Restated Equity Incentive Plan. Expense associated with the performance awards is reported in selling, general and administrative expenses in the consolidated statement of income. The following table summarizes the grant activity for the years December 31, 2015, 2014 and 2013 (in thousands, except for the remaining periods):



Grant Date	Grant Amount		Forfeitures/Adjustments			Payments			Balance at December 31, 2015		Vesting Schedule	Unrecognized Compensation		Remaining Periods (in Months) to Vesting
November 2012	$	1,865	$	(1,583	)	$	(282	)	$	—	November 2015	$	—	0
November 2013	1,351		(715		)	—			636		November 2016	159		9
November 2014	2,087		(1,062		)	—			1,025		November 2017	598		21
November 2015	1,487		—			—			1,487		November 2018	1,363		33
	$	6,790	$	(3,360	)	$	(282	)	$	3,148		$	2,120