Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option Activities of Long-Term Incentive and Option Plans

The following information relates to our long-term incentive plans:

	December 31, 2020
	2016 Plan		2008 Plan
Maximum number of securities for issuance		2,750,000
Number of awards available to be granted (1)		1,016,951
Number of unvested restricted stock/performance-based    restricted stock/restricted stock units outstanding		1,169,527		—
Number of options outstanding		—		122,000
Number of options exercisable		—		122,000

.

(1) Includes 2008 Plan shares canceled, forfeited, expired unexercised, which became available for reissuance under the 2016 Plan after the effective date of the 2016 Plan.

	2020
	Shares			Weighted-Average Exercise Price
Outstanding at beginning of year		124,000		$	33.86
Granted		—		$	—
Exercised		—		$	—
Forfeited or expired		(2,000	)	$	34.50
Outstanding at end of year		122,000		$	33.85
Exercisable at end of year		122,000		$	33.85

	2020			2019			2018
Stock-based compensation expense - Cost of sales	$	106,000		$	122,000		$	141,000
Stock-based compensation expense - SG&A	$	42,000		$	50,000		$	71,000
Income tax benefit	$	(36,000	)	$	(42,000	)	$	(54,000	)
Total intrinsic value of options exercised during the year	$	—		$	—		$	—
Total fair value of options vested during the year	$	180,000		$	169,000		$	169,000
Total intrinsic value of options outstanding at end of year	$	—		$	—		$	—
Total intrinsic value of options exercisable at end of year	$	—		$	—		$	—
Total weighted-average remaining vesting period in years		—			0.49			1.05
Total weighted-average remaining contractual life period in years (options outstanding)	2.64				3.61			4.61
Total weighted-average remaining contractual life period in years (options exercisable)	2.64				3.47			4.31

Summary of Restricted Stock Activity

A summary of restricted stock activity during 2020 is presented below:

	Restricted Stock					Performance-Based Restricted Stock				Restricted Stock Units
	Shares			Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value		Shares			Weighted- Average Grant Date Fair Value
Unvested outstanding beginning of year		618,072		$	5.42		221,439	$	7.26		86,340		$	6.51
Granted		31,138		$	2.81		306,257	$	3.20		231,816		$	1.10
Vested		(283,418	)	$	4.90		—	$	—		(18,996	)	$	9.87
Cancelled or forfeited		(23,121	)	$	7.97		—	$	—		—		$	—
Unvested outstanding end of year		342,671		$	4.53		527,696	$	4.90		299,160		$	2.11

	Restricted Stock
	2020			2019			2018
Shares of restricted stock granted		31,138			285,956			369,350
Total fair value of restricted stock granted	$	87,000		$	1,223,000		$	2,019,000
Weighted-average fair value per restricted stock granted during year	$	2.81		$	4.28		$	5.47
Stock-based compensation expense - Cost of sales	$	62,000		$	255,000		$	385,000
Stock-based compensation expense - SG&A (1)	$	1,078,000		$	1,263,000		$	7,574,000
Income tax benefit	$	(279,000	)	$	(374,000	)	$	(398,000	)
Total weighted-average remaining vesting period in years	1.61			2.18				1.78
Total fair value of restricted stock vested during the year	$	1,389,000		$	3,371,000		$	7,355,000

	Performance-Based Restricted Stock			Performance-Based Restricted Stock
	2020 (2)			2019 (2)
Shares of PBRS granted		306,257			221,439
Total fair value of PBRS granted	$	980,000		$	1,608,000
Weighted-average fair value per PBRS granted during year	$	3.20		$	7.26
Stock-based compensation expense - Cost of sales	$	—		$	53,000
Stock-based compensation expense - SG&A	$	218,000		$	290,000
Income tax benefit	$	(53,000	)	$	(84,000	)
Total weighted-average remaining vesting period in years		1.57			1.85
Total fair value of PBRS vested during the year	$	—		$	—

	Restricted Stock Units
	2020			2019			2018
Shares of RSU granted		231,816			31,833			35,511
Total fair value of RSU granted	$	255,000		$	187,000		$	187,000
Weighted-average fair value per RSU granted during year	$	1.10		$	5.89		$	5.28
Stock-based compensation expense - SG&A	$	255,000		$	187,000		$	187,000
Income tax benefit	$	(63,000	)	$	(46,000	)	$	(34,000	)
Total weighted-average remaining vesting period in years		0.48			1.57			1.75
Total fair value of RSU vested during the year	$	187,000		$	187,000		$	125,000

(1) As it relates to 2018, see Note 14-Related Party Transactions.

(2) The PBRS restricted stock grants are tied to our free cash flow, fixed costs per ton of ammonia measured annually over a three-year period and modified based on our ranking relative to total stockholder return (share price appreciation plus dividends reinvested) (“TSR”) versus the companies in our 2020 and 2019 peer group (“Peer Group”) for the year of grant over a three-year measurement period. The actual number of shares that will vest at the end of the third year will be based on our performance against the metrics set in the awards but are subject to reduction to a minimum (or even zero) for recording less than the targeted performance. The threshold performance for free cash flow is 70% and for fixed costs per ton of ammonia is 60% of the targeted improvement with a maximum for each of 120% of target. The TSR modifier will adjust the overall actual performance up or down by as much as 25% based on our TSR versus the Peer Group average TSR. We estimate the fair value of each PBRS on the date of grant using a Monte Carlo simulation.