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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Awards Granted
The following table summarizes stock option awards granted during the years ended December 31, 2017, 2016, and 2015:
Grantee
Type
 
# of
Options
Granted
 
Vesting Period
 
Weighted
Average
Exercise Price
 
Weighted
Average Grant
Date Fair Value
2017
 
 
 
 
 
 
 
 
Director group
 
90,566

 
1 year or less
 
$
6.34

 
$
3.49

Director group (1)
 
35,000

 
3 years
 
$
6.25

 
$
3.50

CEO grant
 
500,000

 
4 years
 
$
7.35

 
$
2.36

Employee group
 
30,000

 
3 years
 
$
7.25

 
$
3.99

Employee inducement (2)
 
335,000

 
3 years
 
$
6.19

 
$
3.41

 
 
 
 
 
 
 
 
 
2016
 
 
 
 
 
 
 
 
Director group (3)
 
195,417

 
1 year or less
 
$
5.01

 
$
2.71

Director group(1)
 
35,000

 
3 years
 
$
4.80

 
$
2.66

Employee inducement (4)(5)
 
232,500

 
3 years
 
$
4.61

 
$
2.60

 
 
 
 
 
 
 
 
 
2015
 
 
 
 
 
 
 
 
Director group
 
249,273

 
1 year or less
 
$
4.49

 
$
2.44

Employee group
 
17,092

 
3 years
 
$
3.99

 
$
1.33

Employee inducement (6)
 
135,000

 
3 years
 
$
5.51

 
$
1.42

 
(1)
The Company granted non-qualified stock options to one director in connection with the director joining the Company's board of directors.
(2)
The Company granted non-qualified stock options outside its existing stock-based compensation plans to certain employees.
(3)
Includes 20,417 non-qualified stock options granted to one director in connection with the director joining the Company's board of directors.
(4)
The Company granted non-qualified stock options outside its existing stock-based compensation plans in 2016 in connection with an employee joining the Company.
(5)
The Company granted non-qualified stock options outside its existing stock-based compensation plans in connection with the closing of the Lavante acquisition.
(6)
The Company granted non-qualified stock options outside its existing stock-based compensation plans in 2015 to three employees in connection with the employees joining the Company.
Summary of Nonvested Stock Awards Granted
The following table summarizes nonvested stock awards granted during the years ended December 31, 2017, 2016 and 2015:
Grantee
Type
 
# of Stock Awards
Granted
 
Vesting Period
 
Weighted
Average Grant
Date Fair Value
2017
 
 
 
 
 
 
Director group
 
51,179

 
1 year or less
 
$
6.35

Employee group (1)
 
641,751

 
3 years or less
 
$
6.31

Employee inducement (2)
 
100,000

 
3 years or less
 
$
6.33

 
 
 
 
 
 
 
2016
 
 
 
 
 
 
Employee group (3)
 
1,250,750

 
2 years
 
$
4.88

Employee inducement (4)
 
100,000

 
3 years
 
$
4.94

 
 
 
 
 
 
 
2015
 
 
 
 
 
 
Director group
 
4,273

 
1 year or less
 
$
4.02

Director group
 
17,092

 
3 years
 
$
3.99

Employee group (5)
 
2,493,333

 
3 years
 
$
3.99

Employee inducement (6)
 
10,000

 
3 years
 
$
5.29

 
(1)
The Company granted nonvested performance-based stock awards (restricted stock units), restricted stock units and restricted stock awards in the first quarter of 2017 to twelve executive officers totaling 458,000 units. During the second quarter of 2017, the Company issued 183,751 restricted stock awards and restricted stock units to key employees.
(2)
The Company granted nonvested performance-based stock awards (restricted stock units) and restricted stock awards in 2017 to two executive officers in connection with the employees joining the Company.
(3)
The Company granted nonvested performance-based stock awards (restricted stock units) in 2016 to five executive officers, and certain other key employees.
(4)
The Company granted nonvested performance-based stock awards (restricted stock units) outside its existing stock-based compensation plans in 2016 to three employees in connection with the employees joining the Company.
(5)
The Company granted nonvested performance-based stock awards (restricted stock units) in the first quarter of 2015 to eight executive officers totaling 1,325,000 units. During the third and fourth quarters of 2015, the Company issued 1,168,333 units to key employees.
(6)
The Company granted nonvested stock awards (restricted stock) outside its existing stock-based compensation plans in 2015 to two employees in connection with the employees joining the Company.
Summary of PBUs Granted
The following table summarizes the PBUs granted during the years ended December 31, 2017, 2016 and 2015:
 
Total PBUs Granted
PBUs to be Settled in Common Stock (1)
PBUs to be Settled in Cash (2)
2017
333,800

333,800

—

2016
1,350,750

560,670

790,080

2015(3)
2,493,333

954,583

1,538,750

(1)
Represents the number of PBUs to be settled in common stock at the target performance level.
(2)
Represents the number of PBUs to be settled in cash at the target performance level.
(3)
PBUs were forfeited.
Summary of Option Activity
A summary of option activity as of December 31, 2017, and changes during the year then ended is presented below:
Options
 
Shares
 
Weighted-
Average
Exercise
Price
(Per Share)
 
Weighted-
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
($ 000’s)
Outstanding at January 1, 2017
 
3,420,385

 
$
6.26

 
4.30 years
 
$
1,204

Granted
 
990,566

 
6.82

 
 
 
 
Exercised
 
(225,043
)
 
5.23

 
 
 
$
299

Forfeited
 
(475,504
)
 
6.01

 
 
 
 
Expired
 
(311,111
)
 
6.18

 
 
 
 
Outstanding at December 31, 2017
 
3,399,293

 
$
6.54

 
4.05 years
 
$
2,367

Exercisable at December 31, 2017
 
2,290,967

 
$
6.52

 
3.20 years
 
$
1,654
Schedule of Assumptions Used in Black-Scholes Valuation Models
For time-vested option grants that resulted in compensation expense recognition, we used the following assumptions in our Black-Scholes valuation models:
 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
Risk-free interest rates (1)
 
1.38% - 1.96%
 
0.58% - 1.20%
 
0.80% - 1.59%
Dividend yields (2)
 
—%
 
—%
 
—%
Volatility factor of expected market price (3)
 
.540 - .749
 
.391 - .779
 
.323 - .733
Weighted-average expected term of options (4)
 
2.2 - 4 years
 
1.3 - 4.5 years
 
3.1 - 5 years
Forfeiture rate (5)
 
—%
 
—%
 
—%


(1)
The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant for periods corresponding to the expected term of the options.
(2)
The Company has not historically declared dividends.
(3)
The expected volatility is based on the historical volatility of the Company's stock.
(4)
The expected term represents the weighted average period of time that the stock options are expected to be outstanding, giving consideration to the vesting schedules.

The Company accounts for forfeitures as they occur rather than estimating expected forfeitures.
Summary of Nonvested Stock Awards Activity
A summary of nonvested stock awards (including restricted stock, restricted stock units and performance-based restricted stock units) activity as of December 31, 2017 and changes during the year then ended is presented below:
Nonvested Stock
 
Shares
 
Weighted
Average Grant
Date Fair Value
(Per Share)
Nonvested at January 1, 2017
 
3,893,050

 
$
4.37

Granted
 
792,930

 
6.32

Vested
 
(45,002
)
 
6.24

Forfeited
 
(2,524,282
)
 
4.09

Nonvested at December 31, 2017
 
2,116,696

 
$
5.36
Schedule of Unrecognized Compensation Expense Related to Nonvested Stock-Based Compensation
Total unrecognized compensation expense related to nonvested stock-based compensation as of December 31, 2017 is as follows (dollars in thousands):
 
Stock
 
Restricted
Restricted
 
 
Options
SAR
Stock Awards
Stock Units
Total
 
 
 
 
 
 
Unrecognized compensation expense
$
2,565

$
77

$
1,752

$
1,628

$
6,022

Weighted-average remaining recognition period (in years)
2.9
0.3
2.3
1.4
2.3