Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Stock-based Compensation Expense

The following table provides detail as to expenses recorded within operating income with respect to stock based compensation:

	Years Ended December 31,
	2019		2018		2017
	(In thousands)
2015 Plan	$	—	$	777	$	2,736
2016 Plan	1,083		4,566		4,053
2017 Plan	3,016		5,052		2,046
Stock compensation plan for Board of Directors	561		563		—
2018 Plan	3,435		2,961		—
Sign on RSU incentive	453		—		—
2019 Plan	891		—		—
Total expenses	$	9,438	$	13,919	$	8,835

Summary of Activity of PSUs

In the following table summarizes the activity of our PSUs within year ended December 31, 2019:

Period granted	Performance period	PSUs outstanding at January 1,	PSUs granted	Performance based adjustment	PSUs settled	PSUs forfeited	PSUs outstanding at December 31,	PSUs expected to vest	Weighted average grant date fair value
2016	2016 - 2019	677,607	—	299,499	(977,106)	—	—	—	$	17.21
2017	2017 - 2020	467,349	—	—	—	(49,097)	418,252	401,904	$	24.89
2018	2018 - 2021	450,034	—	—	—	(94,268)	355,766	299,418	$	39.24
2019	2019 - 2022	—	332,891	—	—	(103,164)	229,727	215,933	$	11.48
	Total 2019	1,594,990	332,891	299,499	(977,106)	(246,529)	1,003,745	917,255
	Total 2018	1,610,894	450,977	110,215	(557,337)	(19,759)	1,594,990	1,556,011
	Total 2017	1,145,238	474,660	—	—	(9,004)	1,610,894	1,433,440

Summary of Activity of RSUs

In the following table summarizes the activity of our RSUs within year ended December 31, 2019:

Period granted	Vesting period	RSUs outstanding January 1,	RSUs granted	Performance based adjustment	RSUs settled	RSUs forfeited	RSUs outstanding at December 31,	RSUs expected to vest	Weighted average grant date fair value
Sign-on RSUs:
2018	2018 - 2021	35,817	—	—	(11,939)	—	23,878	23,878	$	25.81
2019	2019 - 2022	—	45,257	—	—	—	45,257	45,257	$	15.89
2019 Plan:
2019	2019 - 2022	—	173,940	—	—	(45,493)	128,447	128,447	$	14.74
	Total 2019	35,817	219,197	—	(11,939)	(45,493)	197,582	197,582
	Total 2018	—	35,817	—	—	—	35,817	35,817
	Total 2017	—	—	—	—	—	—	—

Model for Calculating Fair Value

The following table lists the inputs to the valuation model used for calculating the grant date fair values under the 2019, 2018 and 2017 Plans:

	2017 Plan	2018 Plan	2019 Plan PSU
Expected term (in years)	3	3	3
Dividend yield (%)	1.88%	1.94%	4.65%
Expected volatility OEC (%)	33.77%	30.22%	33.30%
Expected volatility peer group (%)	17.30%	20.09%	17.62%
Correlation	0.4574	0.3659	0.5205
Risk-free interest rate (%)	1.45%	1.46%	1.83%
Model used	Monte Carlo	Monte Carlo	Monte Carlo
Weighted average fair value of PSUs granted	$24.89	$39.24	$11.48

Components of Stock-based Compensation Expense

Stock-based compensation expense is compromised of the following line items:

	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Cost of sales	$	139	$	55	$	73
Selling expenses	1,412		2,711		1,637
General and administrative expenses	7,364		10,394		6,658
Research and development costs	523		759		467
Stock-based compensation expense	$	9,438	$	13,919	$	8,835