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Share-based Compensation
9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based Compensation
SHARE-BASED COMPENSATION

The Company’s share-based compensation awards are issued under the 2015 Equity Incentive Plan (“2015 Plan”) and two predecessor plans, the 2005 Equity Incentive Plan, and the 2007 Equity Incentive Plan (the “2007 Plan”). Any awards that expire or are forfeited under the 2007 Plan become available for issuance under the 2015 Plan. As of September 30, 2018, 2.4 million shares of common stock remained available for future issuance under the 2015 Plan, subject to adjustment for future stock splits, stock dividends, and similar changes in capitalization.
Refer to Notes 1 and 10 of the Company’s Annual Report for a detailed description of the Company’s share-based compensation awards, including information related to grant date fair value, vesting terms, performance, and other conditions.

Share-Based Compensation Expense

Pre-tax share-based compensation expense reported in the Company’s condensed consolidated statements of operations was:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
 
(in thousands)
Cost of sales
$
91

 
$
93

 
$
268

 
$
293

Selling, general and administrative expenses
3,214

 
2,813

 
9,052

 
6,558

Total share-based compensation expense
$
3,305

 
$
2,906

 
$
9,320

 
$
6,851



Stock Option Activity

Stock option activity during the nine months ended September 30, 2018 was:
 
Number of Options
 
(in thousands)

Outstanding December 31, 2017
541

Granted

Exercised
(123
)
Forfeited or expired
(27
)
Outstanding September 30, 2018
391



As of September 30, 2018, the Company had $0.3 million of total unrecognized share-based compensation expense related to unvested options, which is expected to be amortized over the remaining weighted average period of 1.65 years.

Restricted Stock Awards and Restricted Stock Units Activity

The Company grants time-based restricted stock awards (“RSAs”) as well as time-based and performance-based restricted stock units (“RSUs”). RSA and RSU activity during the nine months ended September 30, 2018 was:
 
Restricted Stock Awards
 
Restricted Stock Units
 
Shares
 
Weighted Average Grant Date Fair Value
 
Shares
 
Weighted Average Grant Date Fair Value
 
(in thousands, except fair value data)
Unvested at December 31, 2017
17

 
$
6.84

 
3,791

 
$
7.99

Granted
35

 
18.61

 
1,387

 
14.27

Vested
(42
)
 
13.73

 
(1,086
)
 
8.54

Forfeited

 

 
(1,285
)
 
7.61

Unvested at September 30, 2018
10

 
$
18.61

 
2,807

 
$
11.19



As of September 30, 2018, unrecognized share-based compensation expense for RSAs was $0.2 million, which is expected to amortize over a remaining weighted average period of 0.68 years.

RSUs vested during the nine months ended September 30, 2018 consisted of 0.8 million time-based awards and 0.3 million performance-based awards. As of September 30, 2018, unrecognized share-based compensation expenses for time-based and performance-based awards were $9.1 million and $7.6 million, respectively, and are expected to amortize over remaining weighted average period of 1.52 years and 2.43 years, respectively.