Stock Incentive Plans

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

On April 28, 2020, Kforce shareholders approved the 2020 Stock Incentive Plan (the “2020 Plan”). The 2020 Plan allows for the issuance of stock options, stock appreciation rights (“SAR”), stock awards (including restricted stock awards (“RSAs”) and restricted stock units (“RSUs”)) and other stock-based awards. The aggregate number of shares reserved under the 2020 Plan is approximately 3.6 million shares. Grants of an option or SAR reduce the reserve by one share, while a stock award reduces the reserve by 2.72 shares. The 2020 Plan terminates on April 28, 2030.

Restricted stock (including RSAs and RSUs) are granted to directors, executives and management either for awards related to Kforce’s annual long-term incentive program or as part of a compensation package in order to retain directors, executives and management.

The following table presents the restricted stock activity for the three months ended March 31, 2020 (in thousands, except per share amounts):


	Number of Restricted Stock	Weighted-Average Grant Date Fair Value		Total Intrinsic Value of Restricted Stock Vested
Outstanding at December 31, 2019	1,180	$	29.51
Granted	7	$	29.60
Forfeited	(12)	$	22.62
Vested	(8)	$	22.15	$	279
Outstanding at March 31, 2020	1,167	$	29.63

As of March 31, 2020, total unrecognized stock-based compensation expense related to restricted stock was $29.0 million, which will be recognized over a weighted-average remaining period of 3.3 years. During the three months ended March 31, 2020 and 2019, stock-based compensation expense from continuing operations was $2.9 million and $2.5 million, respectively.