XML 55 R38.htm IDEA: XBRL DOCUMENT v3.19.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of common stock option activity
A summary of the Company’s common stock option activity as of and for the three months ended March 31, 2019 and 2018 is presented below:
 
Three Months Ended March 31,
 
2019
 
2018
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
Outstanding Stock Option Activity
 
 
 
 
 
 
 
Outstanding, beginning of period
821,470

 
$
11.00

 
826,498

 
$
11.00

Granted
249,283

 
$
5.76

 

 
$

Exercised

 
$

 

 
$

Forfeited

 
$

 
(5,028
)
 
$
11.00

Outstanding, end of period
1,070,753

 
$
9.78

 
821,470

 
$
11.00

Exercisable, end of period
821,470

 
$
11.00

 
821,470

 
$
11.00

Summary of restricted stock units
A summary of the Company’s restricted stock unit activity as of and for the three months ended March 31, 2019 and 2018 is presented below:
 
Three Months Ended March 31,
 
2019
 
2018
 
Number of Shares
 
Weighted-Average Grant-Date Fair Value per Share
 
Number of Shares
 
Weighted-Average Grant-Date Fair Value per Share
Restricted Stock Unit Activity
 
 
 
 
 
 
 
Outstanding, beginning of period
469,227

 
$
10.75

 
562,082

 
$
10.72

Granted
135,473

 
$
5.76

 
131,412

 
$
11.68

Vested
(229,545
)
 
$
10.60

 
(214,881
)
 
$
10.69

Forfeited
(46,571
)
 
$
10.89

 

 
$

Outstanding, end of period
328,584

 
$
8.78

 
478,613

 
$
11.00

Summary of performance share unit awards
A summary of the Company’s performance share unit activity as of and for the three months ended March 31, 2019 and 2018 is presented below:
 
Three Months Ended March 31,
 
2019
 
2018
 
Number of Shares
 
Weighted-Average Grant-Date Fair Value per Share
 
Number of Shares
 
Weighted-Average Grant-Date Fair Value per Share
Performance Share Unit Activity
 
 
 
 
 
 
 
Outstanding, beginning of period
125,422

 
$
11.68

 

 
$

Granted (at target)

 
$

 
125,422

 
$
11.68

Vested

 
$

 

 
$

Forfeited
(26,882
)
 
$
11.68

 

 
$

Outstanding, end of period (at target)
98,540

 
$
11.68

 
125,422

 
$
11.68

Summary of stock-based compensation expense
The expense related to the Company's stock-based compensation programs, included in general and administrative expense in the accompanying condensed consolidated statements of operations, was as follows:
 
Three Months Ended March 31,
 
2019
 
2018
 
(Dollars in thousands)
Expense related to:
 
 
 
Stock options
$
22

 
$

Restricted stock units and performance share units
544

 
842

 
$
566

 
$
842

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company:
 
Three Months Ended March 31,
 
2019
 
2018
Expected term (in years)
6.0
 
0
Expected volatility
39.9%
 
Risk-free interest rate
2.5%
 
Expected dividends
 
Weighted-average grant date fair value
$2.43
 
$0