Shared-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Components of Share-Based Compensation Expense by Type of Award

The following table lists the components of share-based compensation expense by type of award. 

	Three Months Ended March 31,
	2021		2020
Stock options	$	89	$	181
Restricted stock	548		892
Performance share units	249		223
Share-based compensation expense	$	886	$	1,296

Reconciliation of Option Activity

The following table presents stock option activity for the three months ended March 31, 2021.

	Number of Options (in thousands)	Weighted- Average Exercise Price (per share)		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2021	871	$	12.41
Forfeited or expired	(24)	13.41
Outstanding at March 31, 2021	847	$	12.38	3.7 years	$	—	(1)
Exercisable at March 31, 2021	751	$	12.83	3.0 years	$	—	(1)

_______________________________ 

(1)The aggregate intrinsic value is the sum of intrinsic values for each exercisable individual option grant. The intrinsic value is the amount by which the closing market price of our stock at March 31, 2021, was greater than the exercise price of any individual option grant.

Reconciliation of Restricted Stock Option Activity

The following table presents the status of unvested restricted stock awards as of March 31, 2021, and changes during the three months then ended.

	Nonvested Restricted Shares (in thousands)	Weighted Average Grant-Date Fair Value (per share)
Unvested at January 1, 2021	385	$	9.42
Granted	425	6.79
Vested	(284)	9.50
Forfeited	(12)	7.76
Unvested at March 31, 2021	514	$	7.24

Schedule of Performance Based Awards Goals with Respect to TSR and ROIC

The following table presents the goals with respect to TSR Awards and ROIC Awards granted or modified in 2021.

TSR Awards:	Threshold Performance (50% of Shares)	Target Performance (100% of Shares)	Maximum Performance (150% of Shares)
2021 grants	35th Percentile	50th Percentile	75th Percentile
ROIC Awards:	Threshold Performance (50% of Shares)	Target Performance (100% of Shares)	Maximum Performance (150% of Shares)
2021 grants	6.3%	7.0%	8.6%
2020 grants (1)	6.7%	7.9%	8.7%

_______________________________

(1)The performance levels for 2020 grants were modified by the compensation committee of the board of directors in the first quarter of 2021 to adjust for the sale of the Life Sciences business and the ongoing effects of the COVID-19 pandemic.

Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods

The following table presents the number of PSUs granted and the grant date fair value in the period presented.

	TSR Awards		ROIC Awards
Award Year	Shares (in thousands)	Grant Date Fair Value (per share)	Shares (in thousands)	Grant Date Fair Value (per share)
2021	142	$8.58	172	$7.20

Summary of Status of Unvested PSU Awards

The following table presents the status of unvested PSUs as of March 31, 2021, and changes during the three months then ended.

	Nonvested TSR Awards			Nonvested ROIC Awards
	Shares (in thousands)	Weighted Average Grant-Date Fair Value (per share)		Shares (in thousands)	Weighted  Average Grant-Date Fair Value (per share)
Nonvested at January 1, 2021	138	$	10.58	160	$	9.13
Granted	142	8.58		172	7.20
Nonvested at March 31, 2021	280	$	9.56	332	$	8.13