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Equity Compensation, Employment Agreements and Other Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Compensation Related Costs [Abstract]  
Schedule of restricted stock units activity
The following table presents information with respect to the Company’s RSUs during the years ended December 31, 2019, 2018 and 2017:
 
 
For the Year Ended December 31, 2019
 
RSUs With
Service
Condition
 
Weighted
Average
Grant Date
Fair Value
 
RSUs With
Market and
Service
Conditions
 
Weighted
Average
Grant Date
Fair Value
 
Total
RSUs
 
Total 
Weighted
Average 
Grant Date 
Fair Value
Outstanding at beginning of year:
1,206,446

 
$
7.57

 
1,151,250

 
$
6.21

 
2,357,696

 
$
6.90

Granted (1)
461,525

 
7.35

 
451,000

 
6.97

 
912,525

 
7.16

Settled
(269,290
)
 
6.93

 
(290,000
)
 
4.81

 
(559,290
)
 
5.83

Cancelled/forfeited
(19,000
)
 
7.72

 
(11,000
)
 
6.71

 
(30,000
)
 
7.35

Outstanding at end of year
1,379,681

 
$
7.62

 
1,301,250

 
$
6.78

 
2,680,931

 
$
7.21

RSUs vested but not settled at end of year
809,681

 
$
7.70

 
441,250

 
$
6.48

 
1,250,931

 
$
7.27

RSUs unvested at end of year
570,000

 
$
7.50

 
860,000

 
$
6.94

 
1,430,000

 
$
7.16

 
 
For the Year Ended December 31, 2018
 
RSUs With
Service
Condition
 
Weighted
Average
Grant Date
Fair Value
 
RSUs With
Market and
Service
Conditions
 
Weighted
Average
Grant Date
Fair Value
 
Total
RSUs
 
Total 
Weighted
Average 
Grant Date 
Fair Value
Outstanding at beginning of year:
1,025,028

 
$
7.67

 
1,021,250

 
$
5.80

 
2,046,278

 
$
6.73

Granted (2)
428,802

 
7.65

 
415,000

 
6.91

 
843,802

 
7.29

Settled
(237,384
)
 
8.17

 
(275,000
)
 
5.73

 
(512,384
)
 
6.86

Cancelled/forfeited
(10,000
)
 
7.23

 
(10,000
)
 
5.64

 
(20,000
)
 
6.44

Outstanding at end of year
1,206,446

 
$
7.57

 
1,151,250

 
$
6.21

 
2,357,696

 
$
6.90

RSUs vested but not settled at end of year
708,946

 
$
7.47

 
290,000

 
$
4.81

 
998,946

 
$
6.70

RSUs unvested at end of year
497,500

 
$
7.71

 
861,250

 
$
6.69

 
1,358,750

 
$
7.06

 
 
For the Year Ended December 31, 2017
 
RSUs With
Service
Condition
 
Weighted
Average
Grant Date
Fair Value
 
RSUs With
Market and
Service
Conditions
 
Weighted
Average
Grant Date
Fair Value
 
Total
RSUs
 
Total 
Weighted
Average 
Grant Date 
Fair Value
Outstanding at beginning of year:
1,194,299

 
$
7.38

 
863,800

 
$
5.45

 
2,058,099

 
$
6.57

Granted (3)
447,695

 
7.96

 
451,250

 
6.48

 
898,945

 
7.22

Settled
(616,966
)
 
7.32

 
(293,800
)
 
5.83

 
(910,766
)
 
6.84

Cancelled/forfeited
—

 
—

 
—

 
—

 
—

 
—

Outstanding at end of year
1,025,028

 
$
7.67

 
1,021,250

 
$
5.80

 
2,046,278

 
$
6.73

RSUs vested but not settled at end of year
586,419

 
$
7.98

 
275,000

 
$
5.73

 
861,419

 
$
7.26

RSUs unvested at end of year
438,609

 
$
7.25

 
746,250

 
$
5.82

 
1,184,859

 
$
6.35


(1)
The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs.  In determining the fair value for 752,500 of these awards granted in 2019, the Company applied:  (i) a weighted average volatility estimate of approximately 15%, which was determined considering historic volatility in the price of the Company’s and its peer group companies’ common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s and peer group companies’ common stock at the grant date; and (ii) a weighted average risk-free rate of 2.47% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards.  The weighted average grant date fair value for the remaining 160,025 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $7.28. There are no post vesting conditions on these awards.
(2)
The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs.  In determining the fair value for 692,500 of these awards granted in 2018, the Company applied:  (i) a weighted average volatility estimate of approximately 17%, which was determined considering historic volatility in the price of the Company’s and its peer group companies’ common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s and peer group companies’ common stock at the grant date; and (ii) a weighted average risk-free rate of 2.36% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards.  The weighted average grant date fair value for the remaining 151,302 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $7.70. There are no post vesting conditions on these awards.
(3)
The weighted average grant date fair value of these awards require the Company to estimate certain valuation inputs.  In determining the fair value for 758,750 of these awards granted in 2017, the Company applied:  (i) a weighted average volatility estimate of approximately 15%, which was determined considering historic volatility in the price of Company’s and its peer group companies’ common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s and peer group companies’ common stock at the grant date; and (ii) a weighted average risk-free rate of 1.46% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards. The weighted average grant date fair value for the remaining 140,195 awards with a service condition only was estimated based on the closing price of the Company’s common stock at the grant date of $8.31. There are no post vesting conditions on these awards.
Schedule of restricted stock activity
The following table presents information with respect to the Company’s restricted stock for the years ended December 31, 2019, 2018 and 2017:
 
 
For the Year Ended December 31,
 
2019
 
2018
 
2017
 
Shares of
Restricted
Stock
 
Weighted
Average
Grant Date
Fair Value (1)
 
Shares of
Restricted
Stock
 
Weighted
Average
Grant Date
Fair Value (1)
 
Shares of
Restricted
Stock
 
Weighted
Average
Grant Date
Fair Value (1)
Outstanding at beginning of year:
—

 
$
—

 
—

 
$
—

 
28,968

 
$
7.12

Granted
412,185

 
7.83

 
450,193

 
6.74

 
214,859

 
8.06

Vested (2)
(412,185
)
 
7.83

 
(450,193
)
 
6.74

 
(243,827
)
 
7.95

Cancelled/forfeited
—

 
—

 
—

 
—

 
—

 
—

Outstanding at end of year
—

 
$
—

 
—

 
$
—

 
—

 
$
—


(1) The grant date fair value of restricted stock awards is based on the closing market price of the Company’s common stock at the grant date.
(2) All restrictions associated with restricted stock are removed on vesting.
Schedule of expenses related to equity-based compensation
The following table presents the Company’s expenses related to its equity-based compensation instruments for the years ended December 31, 2019, 2018 and 2017:
 
 
 
For the Year Ended December 31,
(In Thousands)
 
2019
 
2018
 
2017
RSUs (1)
 
$
6,012

 
$
4,974

 
$
6,098

Restricted shares of common stock
 
3,227

 
3,033

 
1,935

Total
 
$
9,239

 
$
8,007

 
$
8,033



(1) Equity-based compensation for the year ended December 31, 2017 includes a one-time expense of approximately $900,000 for the accelerated vesting of certain time-based equity awards arising from the death of the Company’s former Chief Executive Officer.

Schedule of expenses related to deferred compensation plans The following table presents the Company’s expenses related to its Deferred Plans for the years ended December 31, 2019, 2018 and 2017:
 
 
 
For the Year Ended December 31,
(In Thousands)
 
2019
 
2018
 
2017
Non-employee directors
 
$
663

 
$
(165
)
 
$
171

Total
 
$
663

 
$
(165
)
 
$
171
Schedule of aggregate income deferred by participants and associated liability under deferred compensation plans he following table presents the aggregate amount of income deferred by participants of the Deferred Plans through December 31, 2019 and 2018 that had not been distributed and the Company’s associated liability for such deferrals at December 31, 2019 and 2018:
 
 
 
December 31, 2019
 
December 31, 2018
(In Thousands)
 
Undistributed
Income
Deferred (1)
 
Liability Under
Deferred Plans
 
Undistributed
Income
Deferred (1)
 
Liability Under
Deferred Plans
Non-employee directors
 
$
2,349

 
$
3,071

 
$
2,263

 
$
2,417

Total
 
$
2,349

 
$
3,071

 
$
2,263

 
$
2,417


(1)
Represents the cumulative amounts that were deferred by participants through December 31, 2019 and 2018, which had not been distributed through such respective date.