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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2020
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:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(In thousands)
2016 Plan
$— $— $— $1,083 
2017 Plan
— 725 — 1,826 
Stock compensation plan for Board of Directors
— — — 488 
2018 Plan
831 666 351 2,842 
Sign on RSU incentive
29 96 297 360 
2019 Plan
323 538 594 538 
Total expenses
$1,182 $2,025 $1,242 $7,137 
Summary of Activity of PSUs
The following table summarizes the activity of our PSUs for the nine months ended September 30, 2020:
Period granted
Performance period
PSUs outstanding at January 1,
PSUs grantedPerformance based adjustmentPSUs settledPSUs forfeitedPSUs
outstanding at
September 30,		PSUs expected to vestWeighted average grant date fair value
20172017 - 2019418,252 — (40,087)(378,165)— — — $24.89 
20182018 - 2020355,766 — — — (4,360)351,406 173,076 $39.24 
20192019 - 2021229,727 — — — (4,349)225,378 108,459 $11.48 
20202020 - 2022— 288,244 — — — 288,244 268,783 $11.60 
Total 20201,003,745 288,244 (40,087)(378,165)(8,709)865,028 550,318 
Summary of Activity of RSUs
The following table summarizes the activity of our RSUs for the nine months ended September 30, 2020:
Period grantedVesting periodRSUs outstanding January 1,RSUs grantedPerformance based adjustmentRSUs settledRSUs forfeitedRSUs
outstanding at
September 30,		RSUs expected to vestWeighted average grant date fair value
Sign-on RSUs:
20182018 - 202023,878 — — — — 23,878 23,878 $25.81 
20192019 - 202145,257 — — — — 45,257 45,257 $15.89 
2019 & 2020 Plan:
20192019 - 2021128,447 — — — (4,348)124,099 121,770 $14.74 
20202020 - 2022— 161,269 — — — 161,269 155,825 $12.51 
Total 2020197,582 161,269 — — (4,348)354,503 346,730 
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 2020, 2019, 2018 and 2017 Plans:
2017 Plan2018 Plan2019 Plan PSU2020 Plan PSU
Expected term (in years)3333
Dividend yield (%)1.88%1.94%4.65%—%
Expected volatility OEC (%)33.77%30.22%33.30%60.84%
Expected volatility peer group (%)17.30%20.09%17.62%33.22%
Correlation 0.45740.36590.52050.7227
Risk-free interest rate (%)1.45%1.46%1.83%0.14%
Model usedMonte CarloMonte CarloMonte CarloMonte Carlo
Weighted average fair value of PSUs granted$24.89$39.24$11.48$11.60
Components of Stock-based Compensation Expense
Stock-based compensation expense is comprised of the following line items:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
(In thousands)
Cost of sales
$66 $55 $158 $66 
Selling expenses
263 246 233 1,105 
General and administrative expenses
801 1,604 808 5,588 
Research and development costs
53 120 44 378 
Stock-based compensation expense
$1,182 $2,025 $1,242 $7,137