EQUITY PLANS

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

EQUITY PLANS

EQUITY PLANS

The Company has two equity incentive plans: the 2010 BLB Worldwide Holdings, Inc. Stock Option Plan (the “2010 Option Plan”) and the 2015 Stock Incentive Plan (“2015 Incentive Plan”).

The 2010 Option Plan provided for options to acquire 2,455,368 shares of the Company’s common stock. Options granted to employees, officers and directors of the Company under the 2010 Option Plan vested on various schedules by individual as defined in the individual participants’ option agreements. Vested options can generally be exercised all or in part at any time until the tenth anniversary of the date of grant. Effective December 9, 2015, it was determined that no new awards would be granted under the 2010 Option Plan.

The 2015 Incentive Plan provides for the grant of stock options, RSAs, RSUs and other stock-based awards (including those with performance-based vesting criteria) to employees, directors or consultants of the Company. The 2015 Incentive Plan provides for the issuance of up to 1,700,000 shares of the Company’s common stock. During the first quarter of 2020, the Company issued 483,860 RSUs under the 2015 Incentive Plan to eligible employees and executive management as part of its annual equity grant process. These RSUs vest ratably in three annual installments, the first of which vested during the first quarter of 2020. As of March 31, 2020, 738,602 shares were available for grant under the 2015 Incentive Plan.

The Company recognized total share-based compensation expense of $5.5 million and $0.2 million during the three months ended March 31, 2020 and 2019, respectively. The total income tax benefit for share-based compensation arrangements was $2.1 million and $37,000 for the three months ended March 31, 2020 and 2019, respectively.