-Based Compensation

At June 30, 2017, we had four active stock-based compensation plans: the Nonemployee Directors’ Stock Retirement Plan (“Directors’ Plan”), the 2004 Omnibus Long-Term Incentive Plan (“2004 Plan”), the 2009 Omnibus Equity and Performance Incentive Plan (“2009 Plan”), and the 2014 Performance & Incentive Plan (“2014 Plan”). Future grants can only be made under the 2014 Plan.

The following table summarizes the compensation expense included in selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings related to stock-based compensation plans:



	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,			June 30,
	2017		2016		2017			2016
Service-Based RSUs	$	465	$	436	$	1,015		$	948
Performance-Based RSUs	297		213		680			31
Cash-settled RSUs	46		36		(8		)	(12		)
Total	$	808	$	685	$	1,687		$	967
Income tax benefit	304		257		634			363
Net	$	504	$	428	$	1,053		$	604

The following table summarizes the unrecognized compensation expense related to non-vested RSUs by type and the weighted-average period in which the expense is to be recognized:



	Unrecognized
	compensation		Weighted-
	expense at		average
	June 30, 2017		period
Service-Based RSUs	$	1,297	1.25
Performance-Based RSUs	3,248		2.03
Total	$	4,545	1.81

We recognize expense on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in substance, multiple awards.

The following table summarizes the status of these plans as of June 30, 2017:



	2014 Plan	2009 Plan	2004 Plan	Directors' Plan
Awards originally available	1,500,000	3,400,000	6,500,000	N/A
Performance-based options outstanding	315,000	—	—	—
Maximum potential RSU and cash settled awards outstanding	731,143	125,257	57,391	9,620
Maximum potential awards outstanding	1,046,143	125,257	57,391	9,620
RSUs and cash settled awards vested and released	171,118	—	—	—
Awards available for grant	282,739	—	—	—

Stock Options

We have no stock options exercisable or outstanding as of June 30, 2017, other than the performance-based stock options described below.

Performance-Based Stock Options

During 2015 and 2016, the Compensation Committee of the Board of Directors of the Company (the “Committee”) granted a total of 350,000 performance-based stock option awards (“Performance-Based Option Awards”) for certain employees under the 2014 Plan, of which 315,000 remain outstanding after considering forfeitures. The Performance-Based Option Awards have an exercise price of $18.37, a term of five years, and generally will become exercisable (provided the optionee remains employed by the Company or an affiliate) upon our attainment of at least $600,000 in revenues during any of our four-fiscal-quarter trailing periods (as determined by the Committee) during the term. We have not recognized any expense on these Performance-Based Option Awards for the six-month periods ended June 30, 2017 and 2016, since the revenue target was not deemed likely to be attained based on our current forecast.

Service-Based Restricted Stock Units

The following table summarizes the service-based RSU activity as of and for the six months ended June 30, 2017:



	Six Months Ended
	June 30, 2017
	Units		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2017	554,478		$	13.37
Granted	33,040		23.00
Vested and released	(197,439	)	13.75
Forfeited	(4,141	)	17.40
Outstanding at June 30, 2017	385,938		$	13.95
Releasable at June 30, 2017	228,290		$	11.42

Performance and Market-Based Restricted Stock Units

The following table summarizes the performance and market-based RSU activity as of and for the six months ended June 30, 2017:



	Units		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2017	201,900		$	16.48
Granted	123,919		23.83
Attained by performance	15,285		21.66
Released	(41,264	)	21.66
Forfeited	(15,070	)	21.66
Outstanding at June 30, 2017	284,770		$	18.99
Releasable at June 30, 2017	2,011		$	21.66

The following table summarizes each grant of performance awards outstanding at June 30, 2017.



Description	Grant Date	Vesting Year	Vesting Dependency	Target Units Outstanding	Maximum Number of Units to be Granted
2015 - 2017 Performance RSUs	February 5, 2015	2017	35% RTSR, 35% sales growth, 30% cash flow	62,000	124,000
2016 - 2018 Performance RSUs	February 16, 2016	2018	35% RTSR, 35% sales growth, 30% cash flow	92,840	185,680
2017 - 2019 Performance RSUs	February 9, 2017	2019	35% RTSR, 35% sales growth, 30% cash flow	78,341	156,682
2017 - 2019 Performance RSUs	February 9, 2017	2018 - 2020	Operating Income	45,578	45,578
Single Crystal Performance RSUs	March 31, 2016	2018	Various	4,000	8,000

Cash-Settled Restricted Stock Units

Cash-Settled RSUs entitle the holder to receive the cash equivalent of one share of common stock for each unit when the unit vests. These RSUs are issued to key employees residing in foreign locations as direct compensation. Generally, these RSUs vest over a three-year period. Cash-Settled RSUs are classified as liabilities and are remeasured at each reporting date until settled. At June 30, 2017 and June 30, 2016 we had 15,522 and 12,074 cash-settled RSUs outstanding, respectively. At June 30, 2017 and June 30, 2016, liabilities of $161 and $82, respectively were included in Accrued liabilities on our Condensed Consolidated Balance Sheets.