Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Valuation Assumptions

The weighted-average assumptions used in the model were as follows:

	2019			2018			2017
Risk-free interest rate	1.8		%	2.7		%	2.0		%
Expected term (average in years)	6.2			6.2			6.1
Expected dividend yield	—			—			—
Expected volatility	55.7		%	51.0		%	39.6		%
Weighted-average Black-Scholes fair value per share at date of grant	$	4.16		$	5.11		$	1.74

Schedule of Share-based Compensation, Stock Options, Activity

A summary of aggregate option award activity under the Plan as of December 31, 2019, and changes during the fiscal year then ended is presented below:

	Awards		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (1) (in thousands)
Outstanding—January 1, 2019	1,174,256		$	11.78
Granted	222,067		7.68
Forfeited or expired	(182,252	)	7.51
Exercised	(2,000	)	4.58
Outstanding—December 31, 2019	1,212,071		$	11.67	5.88	$	152
Vested and expected to vest	1,170,681		$	11.80	5.77	$	150
Exercisable as of December 31, 2019	829,273		$	13.45	4.53	$	73

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(1)

Aggregate intrinsic value represents the amount by which fair value of the Company’s stock exceeds the exercise price of the option as of December 31, 2019.

A summary of the status of the Company’s non-vested restricted share units as of December 31, 2019 and changes during the year then ended is presented below:

	Awards		Weighted- Average Grant Date Fair Value
Outstanding—January 1, 2019	908,082		$	7.48
Granted	396,552		7.65
Vested	(231,161	)	7.37
Forfeited	(330,892	)	7.48
Non-vested at December 31, 2019	742,581		$	7.60