Incentive Plans

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Abstract]

Incentive Plans

5. Incentive Plans

Stock Option Awards

There were no stock option awards granted during the first three months of 2019 or 2018.

Restricted Stock Awards and Restricted Stock Units

On March 12, 2019, the Board of Directors granted 52,910 performance stock units to the Company’s President and CEO and 13,228 performance stock units to the CFO. Each grant of performance stock units vests on December 31, 2021, based on and subject to the Company’s achievement of cumulative EBITDA and stock price performance goals over a three-year period, as long as the grantee is then employed by the Company, and upon vesting will be settled in shares of our common stock. Any dividends declared will be accrued and paid to the grantee if and when the related shares vest. 

Total stock-based compensation cost was $0.3 million for each of the three months ended March 31, 2019 and 2018, respectively, and is included in salaries and commissions for employees, and in other operating expenses for non-employee directors.