STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2020

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

NOTE 18.    STOCK-BASED COMPENSATION

On May 4, 2017, the stockholders approved the Company’s 2017 Omnibus Incentive Plan ("the 2017 Plan") and all shares that were then available for issuance under the 2008 Omnibus Incentive Plan are now available for issuance under the 2017 Plan. The 2017 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, stock units (including deferred stock units), unrestricted stock, and dividend equivalent rights. Any of the awards issued under the 2017 Plan may be issued as performance-based awards to align compensation awards to the attainment of annual or long-term performance goals. As of March 31, 2020, there were 2.9 million shares reserved and 2.0 million shares available for grant under the 2017 Plan.

Restricted stock units ("RSU’s") are generally granted with a grant date fair value equal to the market price of our stock at the date of grant and with generally a three or four-year vesting schedule or performance-based vesting as determined at the time of grant.

Stock option awards are generally granted with an exercise price equal to the market price of our stock at the date of grant and with either a three or four-year vesting schedule or performance-based vesting as determined at the time of grant. Stock option awards generally have a term of 10 years.

We recognize stock-based compensation expense based on the fair value of the awards issued and the functional area of the employee receiving the award. Stock-based compensation for the three months ended March 31, 2020 and 2019 was as follows:

	Three Months Ended March 31,
	2020		2019
Stock-based compensation expense	$	3,048	$	3,199

Changes in the outstanding RSU awards during the three months ended March 31, 2020 were as follows:

	Three Months Ended March 31, 2020
		Weighted-
		Average
		Grant Date
	Number of RSUs	Fair Value
RSUs outstanding at beginning of period	534	$	56.56
RSUs granted	293	$	59.32
RSUs vested	(94)	$	58.47
RSUs forfeited	(13)	$	61.29
RSUs outstanding at end of period	720	$	57.34

Changes in our outstanding stock options during the three months ended March 31, 2020 were as follows:

	Three Months Ended March 31, 2020
		Weighted-
		Average
	Number of	Exercise Price
	Options	per Share
Options outstanding at beginning of period	185	$	21.56
Options exercised	(5)	$	15.73
Options forfeited	—	$	—
Options expired	(2)	$	15.65
Options outstanding at end of period	178	$	21.79
Options vested during the year	—