NOTE 7 – EMPLOYEE BENEFITS

Healthcare

Our healthcare benefit expense (net of employee contributions) for all plans was approximately $4.0 million and $4.3 million for the three months ended March 31, 2017 and 2016, respectively. An accrual for estimated healthcare claims incurred but not reported (“IBNR”) is included within accrued compensation on the Condensed Consolidated Balance Sheets and was $1.8 million and $1.7 million as of March 31, 2017 and December 31, 2016, respectively.

Workers’ Compensation

Workers’ compensation expense totaled $4.1 million and $3.0 million for the three months ended March 31, 2017 and 2016, respectively. Workers’ compensation known claims and IBNR reserves included on the Condensed Consolidated Balance Sheets were as follows (in thousands):


	March 31,		December 31,
	2017		2016
Included in other current liabilities	$	4,122	$	4,595
Included in other long-term liabilities		9,035		7,052

	$	13,157	$	11,647

We also had an insurance receivable for claims that exceeded the stop loss limit included on the Condensed Consolidated Balance Sheets. That receivable offsets an equal liability included within the reserve amounts noted above and was as follows (in thousands):


	March 31,		December 31,
	2017		2016
Included in other non-current assets	$	1,231	$	1,249

Share-Based Compensation

Directors

We periodically grant shares of restricted stock to members of our Board of Directors. Accordingly, we record compensation expense within administrative expenses on the Condensed Consolidated Statements of Operations at the time of the grant. No shares were granted to our directors during the three months ended March 31, 2017 or 2016.

Employees

During the three months ended March 31, 2017, our employees surrendered approximately one thousand shares of our common stock to satisfy tax withholding obligations arising in connection with the vesting of common stock awards issued under our 2014 Omnibus Incentive Plan. Share-based compensation expense associated with non-performance-based awards was $0.4 million for the three months ended March 31, 2017 and $0.5 million for the three months ended March 31, 2016. We recognized excess tax benefits of $0.1 million and $0.2 million within the income tax provision in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2017 and 2016, respectively.

Nonvested common stock awards for employees as of December 31, 2016 and changes during the three months ended March 31, 2017 were as follows:


	Common Stock Awards			Weighted Average Grant Date Fair Market Value Per Share
Nonvested common stock awards at December 31, 2016		161,174		$	26.36
Granted		—			—
Vested		(9,561	)		21.79
Forfeited		(362	)		26.98

Nonvested common stock awards at March 31, 2017		151,251		$	26.65

As of March 31, 2017, there was $2.7 million of unrecognized compensation expense related to these nonvested common stock awards. This expense is subject to future adjustments for forfeitures and is expected to be recognized on a straight-line basis over the remaining weighted-average period of 2.0 years. Shares forfeited are returned as treasury shares and available for future issuances.

As of March 31, 2017, approximately 2.6 million shares of common stock were available for issuance under the 2014 Omnibus Incentive Plan.

Performance-Based Stock

During the three months ended March 31, 2017, we established, and our Board of Directors approved, performance-based targets in connection with common stock awards to be issued to certain officers in 2018 contingent upon achievement of these targets. Share-based compensation expense associated with these performance-based awards was $0.1 million for the three months ended March 31, 2017.

Nonvested performance-based stock awards for employees as of December 31, 2016 and changes during the three months ended March 31, 2017 were as follows:


	Performance- Based Stock Awards		Weighted Average Grant Date Fair Market Value Per Share
Nonvested performance-based stock awards at December 31, 2016		—	$	—
Granted		77,254		41.00
Vested		—		—
Cancelled		—		—

Nonvested performance-based stock awards at March 31, 2017		77,254	$	41.00

As of March 31, 2017, there was $3.0 million of unrecognized compensation expense related to nonvested performance-based common stock awards. This expense is subject to future adjustments for forfeitures and is expected to be recognized over the remaining weighted-average period of 2.6 years using the graded-vesting method.