Compensation Related Costs, Share Based Payments

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement [Text Block]

SHARE-BASED COMPENSATION

Share-Based Award Activity

During the three months ended March 31, 2020, the Company granted restricted stock awards (“RSAs”) under its 2014 Omnibus Equity Incentive Plan to executive officers (“EOs”). The RSAs granted to the EOs were 100% vested and non-forfeitable on the grant date. The fair value of the RSAs granted to EOs was recorded as share-based compensation expense on the grant date. The Company withheld 75,708 shares of common stock from EOs, at a total cost of $0.6 million, to satisfy statutory minimum tax requirements upon grant of the RSAs.

A summary of share-based awards activity during the three months ended March 31, 2020 is as follows:

	Number of Shares	Weighted Average Grant Date Fair Value per Share
	(in thousands)
Nonvested, December 31, 2019	59	$	9.05
Granted	205	$	10.59
Vested	(205)	$	10.59
Forfeited	—	$	—
Nonvested, March 31, 2020	59	$	9.05

Stock Options

A summary of stock options activity during the three months ended March 31, 2020 is as follows:

	Number of Shares	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
	(in thousands)			(in years)	(in thousands)
Options outstanding, December 31, 2019	500	$	7.49
Granted	—	—
Exercised	—	—
Forfeited	—	—
Options outstanding, March 31, 2020	500	$	7.49	4.57	$	280
Options exercisable, March 31, 2020	500	$	7.49	4.57	$	280

Share-Based Compensation Expense

        Share-based compensation expense was $1.7 million and $1.6 million for the three months ended March 31, 2020 and 2019, respectively. Recognized tax benefit related to share-based compensation expense was $0.4 million and $0.4 million for the three months ended March 31, 2020 and 2019, respectively.

As of March 31, 2020, the estimated total remaining unamortized share-based compensation expense related to unvested RSAs, net of forfeitures, was $0.1 million which is expected to be recognized over a weighted-average period of 0.1 years.