Stockholders' Equity

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Stockholders' Equity

Stockholders' Equity

Common Stock

Basic had 80,000,000 shares of Basic’s common stock, par value $.01 per share, authorized, 26,371,572 shares issued and 26,219,129 shares outstanding at December 31, 2017.

In February 2017, Basic granted certain members of management 801,322 performance-based restricted stock units and 320,532 performance-based stock option awards, which each vest over a three-year period. In May 2017, Basic granted 26,700 shares of restricted stock to each of its Directors. In August 2017, Basic granted certain members of management 6,476 stock options, 16,190 restricted stock units, 6,476 performance-based stock options and 16,190 performance-based restricted stock units.

On December 23, 2016, Basic granted certain members of management 809,416 restricted common stock units, one third of which immediately vested on the Effective Date with the remainder vesting over a two-year period in equal installments.

Treasury Stock

Basic acquired treasury shares through net share settlements for payment of payroll taxes upon the vesting of restricted stock unit awards. Basic repurchased a total of 152,443 and 96,587 common shares through net share settlements for the years ended December 31, 2017 and 2016 respectively.

Preferred Stock

At December 31, 2017 Basic had 5,000,000 shares of preferred stock, par value $.01 per share, authorized, of which none was designated, issued or outstanding.