Stock-Based Compensation

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Performance and Incentive Pay Plan ("PIPP")

As of June 30, 2021 there were 897,161 shares available for issuance under the PIPP.

As of June 30, 2021, all awards granted under the PIPP were in the form of restricted stock units to employees or consultants of the Company. Restricted stock units granted under the PIPP without performance-based vesting criteria typically vest in either equal annual installments over two to three years, or in entirety on the fourth anniversary after the grant date. Awards granted with performance-based vesting criteria typically vest in annual installments over two or three years subject to the achievement of certain financial and operating results of the Company. Certain restricted stock units granted to non-employee directors vested immediately while others vest in equal installments over a two to three year period.

For restricted stock units granted in the first quarter of 2019 that had not vested as of June 30, 2021 a price per share was not determined as of the grant date. The number of shares of common stock of the Company to be issued upon vesting is to be calculated on the vesting date, which is either the second or third anniversary of the date of the grant, or the annual date the compensation committee determines the achievement of the corporate performance targets. Such unvested restricted stock unit awards are included in Other liabilities, non-current. Refer to Note 8 - Other Liabilities for further detail.

The following table summarizes the Company’s stock-based compensation cost and unrecognized stock-based compensation cost (dollars in thousands):


	Performance and Incentive Pay
	Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
Non-vested at beginning of year	$	2,912	$	2,509
Granted	5,709		—
Canceled/forfeited	(629)		(1,369)
Stock-based compensation expense	(1,586)		(642)
Non-vested at end of period	$	6,406	$	498

During the six months ended June 30, 2021 and the year ended December 31, 2020, the Company reclassified $0.4 million and $1.8 million from Other liabilities, current to Additional paid-in capital for restricted stock units that vested.