Stock-Based Compensation Plans

3 Months Ended

Mar. 31, 2016

Stock-Based Compensation Plans [Abstract]

(9) Stock-based Compensation Plans

Effective May 19, 2004, the Company adopted its 2004 Incentive Stock Plan, as further amended and restated on February 3, 2015 (the “2004 Stock Plan”) and its 2004 Restricted Stock Plan for Non-Employee Directors (the “Director Plan”). On May 19, 2015, the Company’s stockholders approved the 2015 Incentive Plan of 3D Systems Corporation (the “2015 Plan” and, together with the 2004 Stock Plan, the “Incentive Plans”).

The 2015 Plan authorizes shares of restricted stock, restricted stock units, stock appreciation rights, cash incentive awards and the grant of options to purchase shares of the Company’s common stock. The 2015 Plan also designates measures that may be used for performance awards.

Generally, awards granted prior to November 13, 2015 become fully-vested on the three-year anniversary of the grant date and awards granted after November 13, 2015 will vest one third each year over three years.

The Company records stock-based compensation expense in selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss). Stock-based compensation expense for the quarters ended March 31, 2016 and 2015 was as follows:


	Quarter Ended March 31,
(in thousands)	2016		2015
Incentive Plans	$	11,632	$	10,329
Director Plan		35		—
Total stock-based compensation expense	$	11,667	$	10,329

The number of shares and units of restricted common stock awarded and the weighted average fair value per share and unit for the quarters ended March 31, 2016 and 2015 were as follows:


	Quarter Ended March 31,
	2016			2015
(in thousands, except per share amounts)	Number of Shares/Units	Weighted Average Fair Value		Number of Shares/Units	Weighted Average Fair Value
Restricted stock awards:
Granted under the Incentive Plans, non-executive employees	—	$	—	213	$	28.62
Granted under the Incentive Plans, executive officers	—		—	60		28.62
Granted under the 2004 Director Plan, non-employee directors	25		7.71	—		—
Total restricted stock awards	25	$	7.71	273	$	28.62