Stock Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Stock Based Compensation

Fair value of the stock option awards was determined on the grant date using the Black-Scholes valuation model based on the following weighted-average assumptions

	June 30, 2020			June 30, 2019
Expected term (years) (1)		6.25			6.25
Expected volatility (2)		33.91	%		35.00	%
Risk-free interest rate (3)		0.72	%		2.74	%
Dividend yield (4)		0.00	%		0.00	%

(1) The Company utilized the simplified method to determine the expected term of the stock options since we do not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.

(2) The expected volatility assumption was calculated based on a peer group analysis of stock price volatility with a look back period consistent with the expected option term.

(3) The risk-free interest rate was based on the U.S. Treasury yield curve in effect at the time of grant, which corresponds to the expected term of the stock options.

(4) The Company has not paid and does not anticipate paying a cash dividend on our common stock.

Summary of the activity of the Company's unvested stock options

							Weighted
							Average
			Weighted		Aggregate		Remaining
	Stock		Average		Intrinsic		Contractual
	Options		Exercise		Value		Life
	(in 000's)		Price		(in 000's)		(years)
Outstanding at December 31, 2019		2,072	$	24.63	$	6,266		8.0
Granted		482		19.49
Exercised		(100)		21.61
Forfeited		(13)		22.98
Outstanding at June 30, 2020		2,441	$	23.75	$	27,345		7.7
Options exercisable at June 30, 2020		841

Summary of RSU activity

			Weighted
	Number of		Average
	Shares		Grant Date
	(in 000's)		Fair Value
Outstanding at December 31, 2019		133	$	28.85
Granted		245		19.49
Settled		(30)		27.32
Forfeited		(1)		32.53
Nonvested RSUs at June 30, 2020		347	$	22.38