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Note 5 - Accounting for Stock Compensation
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE
5
- ACCOUNTING FOR STOCK COMPENSATION
 
The
ICF International, Inc.
2010
Omnibus Incentive Plan (as amended, the “Omnibus Plan”) provides for the granting of options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance shares, performance units, cash-based awards, and other stock-based awards to all officers, key employees, and non-employee directors of the Company. As of
June 30, 2017,
the Company had approximately
1.8
million shares available for grant under the Omnibus Plan. Cash-settled RSUs (“CSRSUs”) have
no
impact on the shares available for grant under the Omnibus Plan, and on the calculated shares used in earnings per share (“EPS”) calculations.
 
During the
six
months ended
June 30, 2017,
the Company granted to its employees approximately
0.2
million shares in the form of RSUs with an average grant date fair value of
$41.35,
and the equivalent value of approximately
0.2
million shares in the form of CSRSUs with an average grant date fair value of
$41.66.
During the
six
months ended
June 30, 2017,
the Company also granted approximately
0.1
million shares in the form of performance-based share awards (“PSAs”) to its employees with a grant date fair value of
$38.81
per share. The RSUs, CSRSUs and PSAs granted are generally subject to service-based vesting conditions, with the PSAs also having performance-based vesting conditions. The performance conditions for the PSAs granted in
2017
have a performance period from
January 1, 2017
through
December 31, 2019
and the performance conditions are consistent with the PSAs granted in the prior years, except for a lower assumed compounded annual growth rate in the earnings per share during the performance period and a higher threshold for the Company to maximize performance shares to be awarded. The Company’s performance-based share program is further described in Note
13,
Accounting for Stock-Based Compensation
, of the Notes to the Consolidated Financial Statements in the Annual Report.
 
The Company recognized stock-based
compensation expense of
$4.7
million and
$4.9
million for the
three
months ended
June 30, 2017
and
2016,
respectively, and
$8.2
million and
$8.1
million for the
six
months ended
June 30, 2017
and
2016,
respectively. Unrecognized compensation expense of approximately
$17.0
million as of
June 30, 2017
related to unsettled RSUs is expected to be recognized over a weighted-average period of
2.4
years. The unrecognized compensation expense related to CSRSUs totaled approximately
$17.5
million at
June 30, 2017
and is expected to be recognized over a weighted-average period of
2.3
years. Unrecognized compensation expense related to PSAs of approximately
$3.9
million as of
June 30, 2017
is expected to be recognized over a weighted-average period of
1.5
years.