Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

Share-based compensation activity during the six months ended June 30, 2019 included the following:

(Shares in thousands)	Granted		Vested		Forfeited
Performance Share Awards (PSAs)		142		—		5
Restricted Stock Units (RSUs)		74		17		2

The following table details equity-based compensation expense and the related income tax benefit.

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
Equity-based compensation expense:
Performance share awards	$	1,187	$	1,074	$	2,231	$	2,010
Restricted stock units		629		454		1,187		934
Deferred compensation stock equivalent units expense		15		53		31		181
Accelerated share-based termination benefits in connection with the merger		—		86		—		1,764
Total equity-based compensation expense	$	1,831	$	1,667	$	3,449	$	4,889

Total tax benefit recognized for equity-based expense	$	83	$	73	$	155	$	184

The following table presents the key inputs used in the Monte Carlo simulation to calculate the fair value of the performance share awards in 2019:

Stock price as of valuation date	$	35.01
Risk-free rate		2.47	%
Expected volatility		25.15	%
Expected dividend yield (assuming full reinvestment)		—
Expected term (years)		3.00