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 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 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 only if the employee is employed through the end of the Performance Period. If the employee is not employed during the entire Performance Period, the award will be forfeited. These grants are 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. The following table summarizes performance awards granted under the 2014 EIP in November 2017, 2016 and 2015:



Grant Date	Grant Amount		Adjustments			Forfeitures			Payments		Adjusted Award Value at March 31, 2018		Vesting Schedule	Remaining Periods (in Months) to Vesting
November 2015	$	1,487	$	627		$	(197	)	$	—	$	1,917	October 2018	7
November 2016	1,434		(46		)	(37		)	—		1,351		October 2019	19
November 2017	1,584		(91		)	—			—		1,493		October 2020	31
	$	4,505	$	490		$	(234	)	$	—	$	4,761

Compensation expense was recognized totaling $0.8 million and $0.3 million for the three months ended March 31, 2018 and 2017, respectively. Unrecognized compensation expense was $2.2 million and $2.0 million as of March 31, 2018 and 2017, respectively.