Stock-Based Compensation	9 Months Ended
Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	15.Stock-Based Compensation The Compensation Committee of the Company’s Board of Directors is responsible for the administration of the Company’s stock incentive plans, which include the 2017 Long Term Incentive Plan, or the “2017 LTIP”, which was approved by shareholders in May 2017 and authorized the maximum aggregate number of shares of common stock to be issued at 2,400,000. In general, the Company’s 2017 LTIP provides for grants of restricted stock and stock options to be issued with a per-share price equal to the fair market value of a share of common stock on the date of grant. Option terms are specified at each grant date, but are generally 10 years from the date of issuance. Options generally vest over a three year period. The Company awards certain executives shares of performance based stock options, with 100% of shares to be earned based on the achievement of an objective return on invested capital measured over a two-year performance period. The Company evaluates the probability of achieving this each reporting period. The Company applies a 3.2% and a 5.5% forfeiture rate, which gets compounded over the vesting terms of the individual award, to its restricted stock and option grants, respectively, based on historical analysis. In the three months ended September 30, 2019 and 2018, compensation expense related to stock based awards outstanding was $0.6 million and $0.6 million, respectively. In the nine months ended September 30, 2019 and 2018, compensation related to stock-based awards outstanding was $2.3 million and $1.7 million, respectively. In January 2019, certain independent directors were awarded a total of 16,854 shares of restricted common stock, which vested immediately on the date of grant. The fair value of all shares awarded on the date of the grant was $4.45 per share. In March 2019, the Company granted an executive of the Company 168,350 shares of restricted common stock, which vests 1/3 at March 31, June 30, and September 30, 2019, respectively. The fair value of all shares awarded on the date of the grant was $2.97 per share. In May 2019, independent directors as well as certain officers and executives of the Company were awarded 479,590 shares of restricted common stock. The total number of shares included 229,590 shares, which were awarded to the independent directors and vested immediately on the date of the grant, as well as 187,500 shares of performance-based stock awarded to certain executives. The performance-based stock will potentially vest 50% if the target is met, with 25% each vesting on the second and third anniversary of the grant, with 100% of the shares to be earned based on the achievement of an objective, tiered return on invested capital, measured over a one-year performance period. The Company evaluates the probability of achieving this each reporting period. The fair value of all shares awarded on the date of the grant was $1.96 per share. In July 2019, certain officers and executives of the Company were awarded 46,500 shares of restricted common stock. The fair value of all shares awarded on the date of the grant was $3.66 per share. In the three months ended September 30, 2019, no options were exercised. In the three months ended September 30, 2018, 256,833 options were exercised, generating proceeds to the Company of approximately $1.5 million. In the nine months ended September 30, 2019, 7,021 options were exercised, generating proceeds to the Company of less than $0.1 million. In the nine months ended September 30, 2018, 488,303 options were exercised, generating proceeds to the Company of approximately $2.8 million. At September 30, 2019, total unrecognized compensation expense related to unvested stock and options was approximately $2.3 million, which is expected to be recognized over a period of approximately two years.

15.Stock-Based Compensation

The Compensation Committee of the Company’s Board of Directors is responsible for the administration of the Company’s stock incentive plans, which include the 2017 Long Term Incentive Plan, or the “2017 LTIP”, which was approved by shareholders in May 2017 and authorized the maximum aggregate number of shares of common stock to be issued at 2,400,000. In general, the Company’s 2017 LTIP provides for grants of restricted stock and stock options to be issued with a per-share price equal to the fair market value of a share of common stock on the date of grant. Option terms are specified at each grant date, but are generally 10 years from the date of issuance. Options generally vest over a three year period.

The Company awards certain executives shares of performance based stock options, with 100% of shares to be earned based on the achievement of an objective return on invested capital measured over a two-year performance period. The Company evaluates the probability of achieving this each reporting period.

The Company applies a 3.2% and a 5.5% forfeiture rate, which gets compounded over the vesting terms of the individual award, to its restricted stock and option grants, respectively, based on historical analysis.

In the three months ended September 30, 2019 and 2018, compensation expense related to stock based awards outstanding was $0.6 million and $0.6 million, respectively. In the nine months ended September 30, 2019 and 2018, compensation related to stock-based awards outstanding was $2.3 million and $1.7 million, respectively.

In January 2019, certain independent directors were awarded a total of 16,854 shares of restricted common stock, which vested immediately on the date of grant. The fair value of all shares awarded on the date of the grant was $4.45 per share.

In March 2019, the Company granted an executive of the Company 168,350 shares of restricted common stock, which vests 1/3 at March 31, June 30, and September 30, 2019, respectively. The fair value of all shares awarded on the date of the grant was $2.97 per share.

In May 2019, independent directors as well as certain officers and executives of the Company were awarded 479,590 shares of restricted common stock. The total number of shares included 229,590 shares, which were awarded to the independent directors and vested immediately on the date of the grant, as well as 187,500 shares of performance-based stock awarded to certain executives. The performance-based stock will potentially vest 50% if the target is met, with 25% each vesting on the second and third anniversary of the grant, with 100% of the shares to be earned based on the achievement of an objective, tiered return on invested capital, measured over a one-year performance period. The Company evaluates the probability of achieving this each reporting period. The fair value of all shares awarded on the date of the grant was $1.96 per share.

In July 2019, certain officers and executives of the Company were awarded 46,500 shares of restricted common stock. The fair value of all shares awarded on the date of the grant was $3.66 per share.

In the three months ended September 30, 2019, no options were exercised. In the three months ended September 30, 2018, 256,833 options were exercised, generating proceeds to the Company of approximately $1.5 million. In the nine months ended September 30, 2019, 7,021 options were exercised, generating proceeds to the Company of less than $0.1 million. In the nine months ended September 30, 2018, 488,303 options were exercised, generating proceeds to the Company of approximately $2.8 million.

At September 30, 2019, total unrecognized compensation expense related to unvested stock and options was approximately $2.3 million, which is expected to be recognized over a period of approximately two years.