Stock-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation

We recognize compensation expense for stock-based compensation awards issued to employees on a straight-line basis over the requisite service period. Compensation cost is based on the fair value of awards as of the grant date.

The following table summarizes the pre-tax stock-based compensation expense included in reported net income (in thousands): 

	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Restricted stock units	2,059		243		2,588		968
Board of Directors and other stock grants	533		540		1,217		771
Total stock-based compensation expense	$	2,592	$	783	$	3,805	$	1,739

Pursuant to our 2011 Stock Incentive Plan, we may grant awards of non-qualified stock options, incentive stock options, restricted stock, stock units, performance shares, performance units and other incentives payable in cash or in shares of our

common stock to officers, employees, members of the Board of Directors and other individuals providing services to the Company. During the three months ended September 30, 2020, the total stock-based compensation expense included $1.7 million as a result of a new transition agreement with the Company's former Chief Executive Officer and the termination of several key executives. As of September 30, 2020, we had restricted and performance stock units outstanding under these plans.