Stock Based Compensation

3 Months Ended

Mar. 31, 2018

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

The following table highlights the expense related to stock based compensation for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
(in thousands)	2018		2017
Restricted stock units (a)	$	1,658	$	1,004
Restricted stock	91		136
Stock options	26		91
Stock based compensation	$	1,775	$	1,231

(a) Includes service-based and performance-based restricted stock units.

During the three months ended March 31, 2018, in addition to grants of service-based restricted stock unit awards, the Company granted performance-based restricted stock units that vest in March 2021. The weighted average grant date fair value of the performance-based restricted stock units was $19.30. The number of performance-based restricted stock units that are issued on the vesting date could range from zero to a maximum of 0.2 million, based 50% upon the Company’s average return on invested capital (“Average ROIC”) over the three year period from January 1, 2018 through December 31, 2020 and 50% upon the Company’s cumulative adjusted earnings per share (“Adjusted EPS”) over the same three-year period.

During the three months ended March 31, 2017, in addition to grants of service-based restricted stock unit awards, the Company granted performance-based restricted stock units that vest in March 2020. The weighted average grant date fair value of the performance-based restricted stock units was $21.35. The number of performance-based restricted stock units that are issued on the vesting date could range from zero to a maximum of 0.2 million, based 50% upon the Company’s Average ROIC over the three year period from January 1, 2017 through December 31, 2019 and 50% upon the Company’s cumulative Adjusted EPS over the same three-year period.