Performance Awards

Awards, defined as cash, shares or other awards, may be granted to employees under the Amended and Restated Commercial Vehicle Group, Inc. 2014 Equity Incentive Plan (the “2014 EIP”). The cash 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 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 is 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 2017, 2016, and 2015. Expense associated with the performance awards is reported in selling, general and administrative expenses in the Consolidated Statements of Operations. The unrecognized expense is $2.0 million as of December 31, 2017. The following table summarizes the grant activity for the years December 31, 2017, 2016 and 2015:



Grant Date	Grant Amount		Adjustments			Forfeitures			Payments			Adjusted Award Value at December 31, 2017		Vesting Schedule	Remaining Periods (in Months) to Vesting
November 2014	$	2,087	(495		)	$	(1,097	)	$	(495	)	$	—	November 2017	0
November 2015	1,487		646			(197		)	$	—		1,936		November 2018	10
November 2016	1,434		(454		)	(37		)	—			943		November 2019	22
November 2017	1,584		(755		)	—			—			829		November 2020	34
	$	6,592	$	(1,058	)	$	(1,331	)	$	(495	)	$	3,708