STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

Tabular disclosure of stock option grants under the Plan

The following table summarizes stock option grants under the Plan:


Grantee Type	# of Options Granted	Issued and Outstanding	Vesting Period	Weighted Average Exercise Price		Weighted Average Grant Date Fair Value (Per Option)

Director Group	150,000	100,000	5 years	$	9.98	$	4.36
Employee Group	2,632,730	2,208,924	3-5 years	$	8.56	$	3.70
Total		2,308,924

Schedule of fair value assumptions of stock option grants

The fair value of the Company’s stock option grants were estimated utilizing the following assumptions for the years ended December 31, 2019, 2018 and 2017:


	2019	2018	2017
Weighted average expected life	6.3 years	6.5 years	6.5 years
Risk-free interest rates	1.45% to 2.58%	2.28% to 3.00%	1.95% to 2.23%
Expected volatility	32.5% to 37.9%	36.7% to 39.9%	40.1% to 40.6%
Expected dividend yield	0.00%	0.00%	0.00%

Schedule of summary of option activity under the Plan and changes during the period


	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Terms (Years)	Aggregate Intrinsic Value (in millions)

Outstanding as of January 1, 2018	1,655,995	$	10.36	9.3	$	6.5
Granted	491,095		9.81
Exercised	(5,000)		9.98
Forfeited or expired	(75,561)		10.46
Outstanding as of December 31, 2018	2,066,529		10.23	8.5		—
Granted	631,136		3.20
Forfeited or expired	(388,741)		9.73
Outstanding as of December 31, 2019	2,308,924	$	8.39	8.0	$	0.2

Exercisable as of December 31, 2018	323,737	$	10.39	8.3	$	—
Vested and expected to vest as of December 31, 2018	2,066,529		10.23	8.5		—
Exercisable as of December 31, 2019	648,331		10.35	7.4		—
Vested and expected to vest as of December 31, 2019	2,308,924	$	8.39	8.0	$	0.2

Summary of restricted stock unit grants under the Plan

The following table summarizes restricted stock unit grants under the Incentive Plan:


Grantee Type	# of Restricted Stock Units Granted	Issued and Outstanding	Vesting Period	Weighted Average Grant Date Fair Value (Per Unit)

Director Group	785,498	730,838	1-2 years	$	2.75
Employee Group	1,568,655	450,044	5 years	$	10.59
Total		1,180,882

Summary of restricted stock awards activity under the Plan


	Units	Weighted Average Grant Date Fair Value (Per Unit)

Non-vested as of January 1, 2018	763,591	$	9.98
Granted	592,015		11.57
Vested	(128,130)		9.86
Forfeited	(386,115)		11.43
Non-vested as of December 31, 2018	841,361		10.44
Granted	753,986		2.45
Vested	(187,956)		10.35
Forfeited	(226,509)		10.16
Non-vested as of December 31, 2019	1,180,882	$	5.44