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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of the Company's Stock Option Activity

A summary of the Company’s stock option activity is as follows:

 

 

 

Shares

 

 

Weighted

Average

Exercise Price Per Share

 

 

Aggregate

Intrinsic

Value

 

Options outstanding as of December 31, 2019

 

 

1,058,652

 

 

$

21.82

 

 

 

 

 

Granted

 

 

250,432

 

 

 

12.37

 

 

 

 

 

Exercised

 

 

(11,250

)

 

 

9.27

 

 

 

 

 

Forfeited

 

 

(220,714

)

 

 

16.44

 

 

 

 

 

Cancelled

 

 

(9,240

)

 

 

14.78

 

 

 

 

 

Options outstanding as of December 31, 2020

 

 

1,067,880

 

 

$

20.91

 

 

$

0.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable as of December 31, 2020

 

 

844,952

 

 

$

21.94

 

 

$

 

 

Schedule of the Assumptions Used to Estimate the Fair Value of Each Option Grant The fair value of each option grant was estimated at the date of grant using the following assumptions:

 

 

2020

 

 

2019

 

 

2018

 

Expected life (years)

 

 

6.5

 

 

 

6.5

 

 

 

6.5

 

Risk-free interest rate

 

 

1.2

%

 

 

2.6

%

 

 

2.8

%

Expected volatility

 

 

42.3

%

 

 

39.8

%

 

 

43.7

%

Expected dividend yield

 

 

%

 

 

%

 

 

%

 

Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Nonvested Share Activity

A summary of activity for restricted stock units is as follows:

 

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value Per Share

 

Unvested as of December 31, 2019

 

 

290,563

 

 

$

22.55

 

Granted

 

 

333,269

 

 

 

11.64

 

Vested

 

 

(177,307

)

 

 

21.66

 

Forfeited

 

 

(84,232

)

 

 

14.27

 

Unvested as of December 31, 2020

 

 

362,293

 

 

$

14.87

 

Performance Shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of the Assumptions Used to Estimate the Fair Value of Each Option Grant The fair value of each total shareholder return performance share unit was estimated at the date of grant using the following assumptions:

 

 

2020

 

 

2019

 

 

2018

 

Correlation

 

 

32.2

%

 

 

32.5

%

 

 

29.5

%

Risk-free interest rate

 

 

1.1

%

 

 

2.5

%

 

 

2.4

%

Expected volatility

 

 

47.5

%

 

 

47.0

%

 

 

33.8

%

Expected dividend yield

 

 

%

 

 

%

 

 

%

Schedule of Nonvested Share Activity

 

A summary of activity for performance share units is as follows:

 

 

 

Shares

 

 

Weighted

Average

Grant Date Fair Value

Per Share

 

Unvested as of December 31, 2019

 

 

457,583

 

 

$

26.25

 

Granted

 

 

328,310

 

 

 

12.67

 

Vested

 

 

(97,135

)

 

 

26.11

 

Forfeited

 

 

(330,423

)

 

 

21.05

 

Unvested as of December 31, 2020

 

 

358,335

 

 

$

18.64