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 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 payable 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 is 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 in the form of cash awards under the 2014 EIP in November 2018, 2017 and 2016:



Grant Date	Grant Amount		Adjustments			Forfeitures			Adjusted Award Value September 30, 2019		Vesting Schedule	Remaining Periods (in Months) to Vesting
November 2016	$	1,434	$	—		$	(88	)	$	1,346	November 2019	1
November 2017	1,584		(26		)	(53		)	1,505		November 2020	13
November 2018	1,590		(49		)	(55		)	1,486		November 2021	25
	$	4,608	$	(75	)	$	(196	)	$	4,337

Compensation expense of $0.4 million and compensation benefit of $1.0 million was recognized for the three months ended September 30, 2019 and 2018, respectively. Compensation expense of $1.1 million and $1.6 million was recognized for the nine months ended September 30, 2019 and 2018, respectively. Unrecognized compensation expense was $1.6 million as of September 30, 2019 and 2018.