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Equity and Cash Incentive Program (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Stock-based compensation expense Stock-based compensation expense relating to all stock-based incentive plans was as follows:
 
Years Ended December 31,
 
2019
 
2018
 
2017
Stock-based compensation expense
$
10,250

 
$
5,375

 
$
2,236

Tax benefit
(2,153
)
 
(1,141
)
 
(774
)
Stock-based compensation expense, net of tax
$
8,097

 
$
4,234

 
$
1,462
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions the fair value of each SAR granted was estimated on the grant date using a Black-Scholes option-pricing model utilizing the following assumptions:
 
2017
Risk-free interest rate
1.80
%
Dividend yield
2.27
%
Expected life (years)
4.6

Volatility
21.90
%
Grant price
$
79.28

Fair value at date of grant
$
12.63
Schedule of Share-based Compensation, SARs Outstanding Activity
A summary of activity relating to SARs outstanding for the year ended December 31, 2019, is as follows:
 
SARs
 
Shares
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term
(in years)
 
Aggregate Intrinsic Value
(in thousands)
Outstanding at January 1, 2019
477,950

 
$
29.43

 
 
 
 
Forfeited / expired
(7,030
)
 
34.13

 
 
 
 
Exercised
(48,559
)
 
25.95

 
 
 
 
Outstanding at December 31, 2019
422,361

 
29.75

 
6.1
 
$
1,799

 
 
 
 
 
 
 
 
Exercisable at December 31, 2019
253,901

 
$
26.84

 
5.4
 
$
1,799
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable
Other information regarding the exercise of SARs is presented below:
(in thousands)
2019
 
2018
 
2017
SARs:
 
 
 
 
 
Fair value of SARs that became exercisable
$
662

 
$
310

 
$
1,239

Aggregate intrinsic value of SARs exercised
629

 
40

 
2,787
Schedule of Share-based Payment Award, Performance Shares, Valuation Assumptions The fair value used in determining stock-based compensation expense of the performance share awards issued in 2019 and 2018 is as follows:
Performance shares:
2019
 
2018
Fair value per share at date of grant
$
57.43

 
$
56.32







The fair value and average attainment used in determining stock-based compensation expense of the performance shares issued in 2017 are as follows:
Performance shares:
2017
Fair value per share at date of grant
$
79.28

Average attainment rate reflected in expense
0.0
%

The fair value and average attainment used in determining stock-based compensation expense of the performance shares issued in 2019 are as follows:
Performance shares:
2019
Fair value per share at date of grant
$
40.22

Average attainment rate reflected in expense
100.0
%
Schedule of Share-based Compensation, Performance Shares Award, Outstanding Activity
A summary of activity for Apergy’s performance share awards for the year ended December 31, 2019, is as follows:
 
Shares
 
Weighted-Average
Grant-Date
Fair Value
Unvested at January 1, 2019
86,817

 
$
56.32

Granted
92,919

 
48.83

Forfeited
(5,010
)
 
52.60

Vested
—

 
—

Unvested at December 31, 2019
174,726

 
$
52.44
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of activity for restricted stock units for the year ended December 31, 2019, is as follows:
 
Shares
 
Weighted-Average
Grant-Date
Fair Value
Unvested at January 1, 2019
414,840

 
$
41.91

Granted
183,143

 
37.82

Forfeited
(16,498
)
 
40.74

Vested
(141,437
)
 
39.35

Unvested at December 31, 2019
440,048

 
$
41.07