SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of assumptions used to determine the fair value of options as of the grant date

The following assumptions were used to determine the fair values as of the grant date for the years ended December 31:



	2018		2017
	Black-Scholes	Binomial	Black-Scholes	Binomial

Risk-free interest rate (%)	2.66 – 3.10	1.64 – 3.22	1.89 – 2.29	0.77 – 2.38
Expected stock price volatility (%)	70.31 – 71.86	71.36 – 71.86	61.49 – 71.52	66.68 – 71.52
Expected dividend yield	—	—	—	—
Expected option life (in years)	6.00 – 6.25	2.56 – 4.33	6.00 – 7.50	2.55 – 4.82
Fair value	$16.17 – $19.68	$14.67 – $20.26	$13.57 – $24.80	$11.94 – $24.30

Summary of the weighted average fair value of stock options granted, the total intrinsic value of stock options exercised and the fair value of options vested

The following table summarizes the weighted average grant date fair value of stock options granted per share, the total intrinsic value of stock options exercised and the grant date fair value of stock options that vested during the years ended December 31:



(in thousands, except per share data)	2019		2018		2017

Weighted average grant date fair value of stock options granted per share	$	—	$	16.31	$	20.44
Intrinsic value of options exercised	54		4,609		3,028
Grant date fair value of stock options that vested	3,053		1,760		2,279

Summary of the activity of the entity's stock options

The following table summarizes the activity related to our stock options:



	Number of options		Weighted average exercise price		Weighted average contractual term (in years)	Aggregate intrinsic value (in thousands)

Outstanding as of December 31, 2018	1,440,566		$	30.78	5.04	$	945
Performance criteria achieved	227,849		24.98
Exercised	(21,052	)	18.79
Forfeited	(179,317	)	37.85

Outstanding as of December 31, 2019	1,468,046		29.19		4.60	94

Exercisable as of December 31, 2019	926,174		26.46		3.03	92

Shares authorized under stock option plans, by exercise price range

The following table summarizes information about stock options outstanding and exercisable as of December 31, 2019:



	Options outstanding				Options exercisable
Exercise price range ⁽¹⁾	Number	Weighted average remaining contractual life (in years)	Weighted average exercise price		Number	Weighted average remaining contractual life (in years)	Weighted average exercise price

$10.01 — $20.00	174,784	5.18	$	18.79	169,457	5.18	$	18.79
$20.01 — $30.00	1,057,212	4.39	24.44		656,287	2.26	24.01
$30.01 — $40.00	107,550	6.60	34.39		39,055	5.24	32.79
$60.01 — $70.00	58,500	2.20	60.76		43,875	2.20	60.76
$80.01 — $90.00	25,000	4.60	86.69		6,250	4.60	86.69
$90.01 — $100.00	45,000	4.19	95.67		11,250	4.19	95.67

	1,468,046				926,174

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⁽¹⁾	These options contain market-based and performance-based components as described above.

Shares authorized under stock option plans by vesting price range

The following table summarizes the market prices necessary in order for the market-based options to begin to vest:



	Market-based options
Vesting price	Ordinary performance		Extraordinary performance

$40.01 — $50.00	3,125		—
$50.01 — $60.00	44,796		5,327
$60.01 — $70.00	14,815		6,250
$70.01 — $80.00	—		11,500
$80.01 — $90.00	—		11,397
$90.01 — $100.00	—		6,908
$100.01 — $110.00	—		1,000
$170.01 — $180.00	12,500		—
$180.01 — $190.00	7,500		14,625
Over $190.00	15,000		17,500

Total	97,736		74,507

Weighted average share price	$	51.06	$	48.53

Restricted shares and restricted share units activity

The following table summarizes the activity related to our restricted shares and restricted share units:



	Number of restricted shares and restricted share units

Outstanding as of December 31, 2018	485,806
Granted	401,458
Issued	(138,504	)
Forfeited/canceled	(112,614	)

Outstanding as of December 31, 2019	636,146