STOCK-BASED PLANS

3 Months Ended

Mar. 31, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED PLANS

STOCK-BASED PLANS

The Company’s stock-based plans are described and informational disclosures are provided in the Notes to Consolidated Financial Statements included in the Annual Report.

Stock Options

The following table summarizes the Company’s stock option activity for the three months ended March 31, 2020:

	Stock Options		Weighted-average Exercise Price
Stock Options outstanding at December 31, 2019	721,496		$	104.55
Granted	2,000		83.11
Exercised	(54,558	)	67.88
Forfeited	(107,000	)	126.24
Expired	(1,000	)	125.09
Stock Options outstanding at March 31, 2020	560,938		$	103.87

Compensation costs related to stock options were in a credit position of $0.7 million for the three months ended March 31, 2020 due to significant forfeitures which outweighed the expense. Compensation costs related to stock options were $0.7 million for the three months ended March 31, 2019, of which $0.2 million were capitalized to development projects.

Restricted Stock

The following table summarizes restricted stock activity for the three months ended March 31, 2020:

	Restricted Stock		Weighted-average Grant Date Fair Value
Restricted stock outstanding at December 31, 2019	406,802		$	76.27
Granted	70,210		84.55
Forfeited	(12,796	)	90.94
Restricted stock outstanding at March 31, 2020	464,216		$	77.01

Compensation costs related to restricted stock awards for the three months ended March 31, 2020 and 2019 were $1.9 million and $2.3 million, of which zero and $0.3 million were capitalized to development projects, respectively.