Stock-Based Compensation

3 Months Ended

Mar. 31, 2020

Note 4. Stock-based Compensation

The following table summarizes share activity related to stock options and restricted stock awards (“RSAs”):


		Restricted Stock
	Stock Options	Awards
Options Outstanding/Nonvested RSAs, December 31, 2019	693	911
Granted	170	273
Options Exercised/RSAs Released	—	(147)
Forfeited	(78)	(159)
Options Outstanding/Nonvested RSAs, March 31, 2020	785	878

The Company granted a target of 67,091 performance-based RSAs with a grant date fair value of $0.7 million during the three months ended March 31, 2020 and a target of 100,281 performance-based RSAs with a grant date fair value of $1.1 million during the three months ended March 31, 2019. The 2020 performance-based RSAs were awarded to certain members of senior management in connection with the achievement of specific key financial metrics and a relative total shareholder return multiple measured over a three-year period and also vest over a three-year period. The number of 2020 performance-based awards that will ultimately vest is contingent upon the achievement of these key financial metrics and the results of the relative total shareholder return multiple by the end of year three. The 2019 performance-based RSAs were awarded to certain members of senior management in connection with the achievement of specific key financial metrics measured over a two-year period and vest over a three-year period. The number of 2019 performance-based awards that will ultimately vest is contingent upon the achievement of these key financial metrics by the end of year two. The Company assesses the probability of achieving these metrics on a quarterly basis. For these awards, the Company recognizes the fair value expense ratably over the performance and vesting period. These awards are included above in RSAs Granted.