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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Schedule of Information with Respect to Outstanding and Exercisable Stock Options

The following table summarizes information with respect to all outstanding and exercisable stock options under all of our plans as of December 31, 2019:

 

 

 

 

 

 

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of

Exercise Prices

 

 

Number of

Options

Outstanding

 

 

Weighted Average

Exercise Price

 

 

Weighted Average

Remaining

Contractual Term

(in Years)

 

 

Number

Exercisable

 

 

Weighted

Average

Exercise Price

 

$

2.82

 

 

$

4.07

 

 

 

280,632

 

 

$

3.71

 

 

 

4.71

 

 

 

280,632

 

 

$

3.71

 

$

4.15

 

 

$

4.15

 

 

 

250,732

 

 

$

4.15

 

 

 

5.61

 

 

 

250,732

 

 

$

4.15

 

$

4.49

 

 

$

4.49

 

 

 

607,648

 

 

$

4.49

 

 

 

6.18

 

 

 

436,872

 

 

$

4.49

 

$

5.00

 

 

$

6.51

 

 

 

302,032

 

 

$

6.02

 

 

 

4.40

 

 

 

302,032

 

 

$

6.02

 

$

7.22

 

 

$

8.30

 

 

 

258,023

 

 

$

8.21

 

 

 

6.87

 

 

 

133,473

 

 

$

8.12

 

$

9.69

 

 

$

13.15

 

 

 

84,065

 

 

$

9.90

 

 

 

6.73

 

 

 

84,065

 

 

$

9.90

 

$

13.80

 

 

$

13.80

 

 

 

266,312

 

 

$

13.80

 

 

 

8.18

 

 

 

61,838

 

 

$

13.80

 

$

15.39

 

 

$

22.13

 

 

 

226,653

 

 

$

20.23

 

 

 

4.61

 

 

 

184,695

 

 

$

20.00

 

$

29.02

 

 

$

29.02

 

 

 

41,512

 

 

$

29.02

 

 

 

0.17

 

 

 

41,512

 

 

$

29.02

 

$

30.67

 

 

$

30.67

 

 

 

120,000

 

 

$

30.67

 

 

 

0.38

 

 

 

120,000

 

 

$

30.67

 

 

 

 

 

 

 

 

 

 

2,437,609

 

 

$

9.32

 

 

 

5.51

 

 

 

1,895,851

 

 

$

9.08

 
Schedule of Deferred Stock Units to be Settled in Shares

The following table summarizes information with respect to all deferred stock units during the years ended December 31, 2019, 2018 and 2017:

 

 

 

Deferred

Stock Units

to be Settled

in Shares

 

 

Weighted

Average

Grant-Date

Fair Value

Per Unit

 

Outstanding as of December 31, 2016 (1)

 

 

76,023

 

 

$

4.44

 

Granted

 

 

-

 

 

 

-

 

Vested

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

Outstanding as of December 31, 2017 (1)

 

 

76,023

 

 

$

4.44

 

Granted

 

 

-

 

 

 

-

 

Vested

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

Outstanding as of December 31, 2018 (1)

 

 

76,023

 

 

$

4.44

 

Granted

 

 

-

 

 

 

-

 

Vested (2)

 

 

(2,928

)

 

 

5.56

 

Forfeited

 

 

-

 

 

 

-

 

Outstanding as of December 31, 2019 (1)

 

 

73,095

 

 

$

4.39

 

 

 

 

 

(1)

Includes vested but unreleased awards. These awards are included in total outstanding awards until they are released under the terms of the agreement.

 

(2)

Includes previously vested awards which were released during the current period.
Schedule of Restricted Stock Units to be Settled in Cash

The following table summarizes information with respect to all cash-settled restricted stock units for the years ended December 31, 2019, 2018 and 2017:

 

 

 

Restricted

Stock Units

to be Settled

in Cash

 

Outstanding as of December 31, 2016

 

 

1,192,078

 

Granted

 

 

-

 

Vested

 

 

(650,729

)

Forfeited

 

 

(69,621

)

Outstanding as of December 31, 2017

 

 

471,728

 

Granted

 

 

-

 

Vested

 

 

(214,192

)

Forfeited

 

 

(44,742

)

Outstanding as of December 31, 2018

 

 

212,794

 

Granted

 

 

-

 

Vested

 

 

(129,116

)

Forfeited

 

 

(2,170

)

Outstanding as of December 31, 2019

 

 

81,508

 
Summary of Total Stock Based Compensation Expense

Stock-Based Compensation Expense. Total stock-based compensation expense for the years ended December 31, 2019, 2018 and 2017 for all types of awards was as follows (dollars in thousands):

 

 

 

December 31,

 

Award Type

 

2019

 

 

2018

 

 

2017

 

Stock options

 

$

1,690

 

 

$

1,956

 

 

$

1,585

 

Restricted stock units settled in stock

 

 

7,569

 

 

 

3,641

 

 

 

3,366

 

Restricted stock units settled in cash

 

 

2,301

 

 

 

2,197

 

 

 

4,134

 

Total stock-based compensation expense

 

$

11,560

 

 

$

7,794

 

 

$

9,085

 

 
Schedule of Fair Value of Stock Option Award Granted Estimated on Date of Grant Using the Black-Scholes-Merton Option Pricing Model The weighted average fair value per share of stock option awards granted during the years ended December 31, 2019, 2018 and 2017, and assumptions used to value stock options are as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Dividend yield

 

 

-

 

 

 

-

 

 

 

-

 

Risk-free interest rate

 

 

1.6

%

 

 

2.6

%

 

 

1.9

%

Weighted average volatility

 

 

62.6

%

 

 

56.1

%

 

 

64.2

%

Expected life (in years)

 

 

8.0

 

 

 

5.0

 

 

 

5.2

 

Weighted average grant date fair value per share of options granted

 

$

13.78

 

 

$

7.09

 

 

$

4.81

 
Restricted Stock Units [Member]  
Schedule of Information with Respect to all Outstanding Restricted Stock

The following table summarizes information with respect to all outstanding restricted stock units to be settled in shares of stock under our plans during the years ended December 31, 2019, 2018 and 2017:

 

 

 

Restricted Stock to be Settled in Shares of Stock

 

 

 

Units

 

 

Weighted

Average

Grant-Date

Fair Value

Per Unit

 

Outstanding as of December 31, 2016

 

 

1,712,204

 

 

$

4.63

 

Granted

 

 

289,392

 

 

 

8.49

 

Vested (1)

 

 

(422,284

)

 

 

4.64

 

Forfeited

 

 

(125,489

)

 

 

5.56

 

Outstanding as of December 31, 2017

 

 

1,453,823

 

 

$

5.32

 

Granted

 

 

1,397,644

 

 

 

12.91

 

Vested

 

 

(709,132

)

 

 

4.97

 

Forfeited

 

 

(124,858

)

 

 

7.14

 

Outstanding as of December 31, 2018 (2)

 

 

2,017,477

 

 

$

12.70

 

Granted

 

 

427,488

 

 

 

21.31

 

Vested

 

 

(500,818

)

 

 

6.14

 

Forfeited

 

 

(22,955

)

 

 

11.42

 

Outstanding as of December 31, 2019

 

 

1,921,192

 

 

$

16.34

 

 

 

(1)

The total vested awards include 6.3 thousand of vested restricted stock units settled in cash for the year ended December 31, 2017. These awards granted in 2015 for retention purposes are subject to accelerated vesting and cash settlement in the event of an involuntary not-for-cause termination of employment by the Company.

 

(2)

The weighted average grant-date fair value per unit as of December 31, 2018 reflects an adjusted fair value per unit from $10.59 to $12.70 due to the modification of grants approved by the Board of Directors during the current year for our performance-based awards granted on December 14, 2018.
Employee Stock Option [Member]  
Summary of Stock Option Activity

Stock option activity during the years ended December 31, 2019, 2018 and 2017 under our plans was as follows:

 

 

 

Options

 

 

Weighted Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Term

 

Aggregate

Intrinsic Value

(in thousands)

 

Outstanding as of December 31, 2016

 

 

3,085,888

 

 

$

11.18

 

 

 

 

 

 

 

Granted

 

 

365,709

 

 

 

8.67

 

 

 

 

 

 

 

Exercised

 

 

(288,618

)

 

 

8.18

 

 

 

 

$

250

 

Forfeited

 

 

(75,426

)

 

 

6.97

 

 

 

 

 

 

 

Cancelled

 

 

(219,500

)

 

 

29.67

 

 

 

 

 

 

 

Outstanding as of December 31, 2017

 

 

2,868,053

 

 

$

9.86

 

 

 

 

 

 

 

Granted

 

 

336,768

 

 

 

14.10

 

 

 

 

 

 

 

Exercised

 

 

(161,072

)

 

 

8.46

 

 

 

 

$

987

 

Forfeited

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Cancelled

 

 

(225,316

)

 

 

20.58

 

 

 

 

 

 

 

Outstanding as of December 31, 2018

 

 

2,818,433

 

 

$

9.59

 

 

 

 

 

 

 

Granted

 

 

41,958

 

 

 

21.29

 

 

 

 

 

 

 

Exercised

 

 

(258,621

)

 

 

5.76

 

 

 

 

$

2,902

 

Forfeited

 

 

(8,017

)

 

 

15.39

 

 

 

 

 

 

 

Cancelled

 

 

(156,144

)

 

 

22.99

 

 

 

 

 

 

 

Outstanding as of December 31, 2019

 

 

2,437,609

 

 

$

9.32

 

 

5.51 years

 

$

24,606

 

Exercisable as of December 31, 2019

 

 

1,895,851

 

 

$

9.08

 

 

4.96 years

 

$

20,037