Stock Based Compensation

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following table highlights the expense related to stock based compensation for the three and six months ended June 30, 2017 and 2016:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2017		2016		2017		2016
Restricted stock	$	90	$	284	$	226	$	976
Restricted stock units	1,600		1,136		2,417		2,015
Performance-based restricted stock units	378		121		565		123
Stock options	86		263		177		579
Stock based compensation	$	2,154	$	1,804	$	3,385	$	3,693

During the six months ended June 30, 2017, in addition to grants of service-based restricted stock unit awards, the Company granted performance-based restricted stock units that vest on March 15, 2020. The weighted average grant date fair value of the performance-based restricted stock units was $21.94. Currently, the number of performance-based restricted stock units that are issued on the vesting date could range from zero to a maximum of 249,804, based 50% upon the Company’s average return on invested capital (“ROIC”) over the three year period from January 1, 2017 through December 31, 2019 and 50% upon the Company’s cumulative adjusted earnings per share (“Adjusted EPS”) over the same three year period.

During the six months ended June 30, 2016, in addition to grants of service-based restricted stock unit awards, the Company granted performance-based restricted stock units that vest on March 15, 2019. The number of performance-based restricted stock units that are issued on the vesting date could range from zero to a maximum of 206,250, based upon the Company’s cumulative Adjusted EBITDA over the three year period from January 1, 2016 through December 31, 2018.