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Stock-based Compensation
 9 Months Ended
Sep. 30, 2018
Stock-based Compensation  
Stock-based Compensation

Note 19—Stock-based Compensation

 

As of September 30, 2018, the Company had one stock-based compensation plan. Following is a summary of the stock-based compensation activity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended September 30, 

 

Nine months ended September 30, 

 

 

    

2018

    

2017

    

2018

    

2017

 

 

 

(in thousands)

 

Grants:

 

 

 

 

 

 

 

 

 

 

 

 

 

Units:

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance-based RSUs

 

 

 —

 

 

 —

 

 

524

 

 

694

 

Stock options

 

 

 —

 

 

 —

 

 

674

 

 

861

 

Time-based RSUs

 

 

 5

 

 

 3

 

 

321

 

 

408

 

Grant date fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance-based RSUs

 

$

 —

 

$

 —

 

$

12,791

 

$

12,512

 

Stock options

 

 

 —

 

 

 —

 

 

6,147

 

 

5,772

 

Time-based RSUs

 

 

100

 

 

58

 

 

7,803

 

 

7,359

 

Total

 

$

100

 

$

58

 

$

26,741

 

$

25,643

 

Vestings and exercises:

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance-based RSUs vested

 

 

 —

 

 

 —

 

 

774

 

 

446

 

Stock options exercised

 

 

55

 

 

 9

 

 

285

 

 

34

 

Time-based RSUs vested

 

 

 1

 

 

 4

 

 

245

 

 

165

 

Compensation expense

 

$

8,532

 

$

4,243

 

$

20,766

 

$

14,633

 

 

The performance-based RSUs provide for the issuance of shares of the Company’s Class A common stock based on the attainment of earnings per share and/or return on equity target performance goals and are subject to adjustment based on individual performance of the grantees. The satisfaction of the performance goals and issuance of shares are approved by the compensation committee of the Company’s board of directors.