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 2016, 2015, and 2014. The November 2013 awards of $0.3 million were paid in 2016. 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, 2016, 2015 and 2014 (in thousands, except for the remaining periods):



Grant Date	Grant Amount		Forfeitures/Adjustments			Payments			Balance at December 31, 2016		Vesting Schedule	Unrecognized Compensation		Remaining Periods (in Months) to Vesting
November 2013	$	1,351	$	(1,033	)	$	(318	)	$	—	November 2016	$	—	0
November 2014	$	2,087	$	(1,062	)	$	—		$	1,025	November 2017	$	256	9
November 2015	1,487		(160		)	—			1,327		November 2018	774		21
November 2016	1,434		—			—			1,434		November 2019	1,315		33
	$	6,359	$	(2,255	)	$	(318	)	$	3,786		$	2,345