-Based Compensation

At September 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				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2017		2016		2017		2016
Service-Based RSUs	$	415	$	523	$	1,430	$	1,471
Performance-Based RSUs	360		235		1,040		267
Cash-settled RSUs	52		34		44		21
Total	$	827	$	792	$	2,514	$	1,759
Income tax benefit	311		298		945		661
Net	$	516	$	494	$	1,569	$	1,098

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
	September 30, 2017		period
Service-Based RSUs	$	865
Performance-Based RSUs	2,552
Total	$	3,417	1.68

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 September 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	295,000	—	—	—
Maximum potential RSU and cash settled awards outstanding	705,925	122,600	57,391	9,620
Maximum potential awards outstanding	1,000,925	122,600	57,391	9,620
RSUs and cash settled awards vested and released	173,554	—	—	—
Awards available for grant	325,521	—	—	—

Stock Options

We have no stock options exercisable or outstanding as of September 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 295,000 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 nine-month periods ended September 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 nine months ended September 30, 2017:



	Units		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2017	554,478		$	13.37
Granted	34,040		22.98
Vested and released	(199,251	)	13.79
Forfeited	(9,924	)	16.69
Outstanding at September 30, 2017	379,343		$	13.92
Releasable at September 30, 2017	226,811		$	11.38

Performance and Market-Based Restricted Stock Units

The following table summarizes the performance and market-based RSU activity as of and for the nine months ended September 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	(43,275	)	21.66
Forfeited	(26,524	)	22.56
Outstanding at September 30, 2017	271,305		$	18.77
Releasable at September 30, 2017	—		$	—

The following table summarizes each grant of performance awards outstanding at September 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	71,796	143,592
2017 - 2019 Performance RSUs	February 9, 2017	2018 - 2020	Operating Income	40,669	40,669
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 September 30, 2017 and September 30, 2016 we had 14,252 and 12,074 cash-settled RSUs outstanding, respectively. At September 30, 2017 and September 30, 2016, liabilities of $214 and $115, respectively were included in Accrued liabilities on our Condensed Consolidated Balance Sheets.