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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Compensation Expense

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

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Service-Based RSUs

 

$

2,714

 

 

$

2,601

 

 

$

2,207

 

Performance-Based RSUs

 

 

3,113

 

 

 

539

 

 

 

2,553

 

Cash-settled awards

 

 

278

 

 

 

277

 

 

 

255

 

Total

 

$

6,105

 

 

$

3,417

 

 

$

5,015

 

Income tax benefit

 

 

1,404

 

 

 

786

 

 

 

1,133

 

Net

 

$

4,701

 

 

$

2,631

 

 

$

3,882

 

Summary of Unrecognized Compensation Expense related to Non-Vested RSUs

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

expense at

December 31,

2021

 

 

Weighted-

average

period

Service-Based RSUs

 

$

2,021

 

 

1.23 years

Performance-Based RSUs

 

 

3,704

 

 

1.77 years

Total

 

$

5,725

 

 

1.58 years

Summary of Status of Plans

The following table summarizes the status of these plans as of December 31, 2021:

 

 

 

2018 Plan

 

 

2014 Plan

 

 

2009 Plan

 

 

2004 Plan

 

 

Directors' Plan

 

Awards originally available to be granted

 

 

2,500,000

 

 

 

1,500,000

 

 

 

3,400,000

 

 

 

6,500,000

 

 

N/A

 

Performance stock options outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Maximum potential RSU and cash settled

   awards outstanding

 

 

638,268

 

 

 

35,100

 

 

 

45,200

 

 

 

14,545

 

 

 

4,722

 

Maximum potential awards outstanding

 

 

638,268

 

 

 

35,100

 

 

 

45,200

 

 

 

14,545

 

 

 

4,722

 

RSUs and cash settled awards vested and

   released

 

 

127,313

 

 

 

 

 

 

 

 

 

 

 

 

 

Awards available to be granted

 

 

1,734,419

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of RSU Activity

A summary of RSU activity for the year ended December 31, 2021 is presented below:

 

 

 

Units

 

 

Weighted

Average

Grant Date

Fair Value

 

 

Weighted

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic

Value

 

Outstanding at January 1, 2021

 

 

367,428

 

 

$

21.28

 

 

 

 

 

 

 

 

 

Granted

 

 

93,565

 

 

 

33.81

 

 

 

 

 

 

 

 

 

Released

 

 

(161,626

)

 

 

21.41

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(16,151

)

 

 

29.11

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

283,216

 

 

$

24.91

 

 

 

17.88

 

 

$

10,320

 

Releasable at December 31, 2021

 

 

132,667

 

 

$

17.53

 

 

 

29.92

 

 

$

4,872

 

Schedule of Weighted Average Grant Date Fair Value and Intrinsic Value of RSU's

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Weighted-average grant date fair value

 

$

33.81

 

 

$

27.94

 

 

$

28.61

 

Intrinsic value of RSUs released

 

$

5,408

 

 

$

2,503

 

 

$

2,155

 

 

Summary of Non-vested RSU Activity

A summary of non-vested RSU activity for the year ended December 31, 2021 is presented below:

 

 

 

RSUs

 

 

Weighted

Average

Grant Date

Fair Value

 

Nonvested at January 1, 2021

 

 

163,854

 

 

$

28.14

 

Granted

 

 

93,565

 

 

 

33.81

 

Vested

 

 

(90,719

)

 

 

28.39

 

Forfeited

 

 

(16,151

)

 

 

29.11

 

Nonvested at December 31, 2021

 

 

150,549

 

 

$

31.42

 

Schedule of Performance-Based RSUs

A summary of PSU activity for the year ended December 31, 2021 is presented below:

 

 

 

Units

 

 

Weighted

Average

Grant Date

Fair Value

 

 

Weighted

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic

Value

 

Outstanding at January 1, 2021

 

 

225,559

 

 

$

28.97

 

 

 

 

 

 

 

 

 

Granted

 

 

90,337

 

 

 

34.38

 

 

 

 

 

 

 

 

 

Added by performance factor

 

 

18,107

 

 

 

28.33

 

 

 

 

 

 

 

 

 

Released

 

 

(53,145

)

 

 

28.33

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(43,091

)

 

 

27.71

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

237,767

 

 

$

31.35

 

 

 

1.74

 

 

$

8,731

 

Releasable at December 31, 2021

 

 

 

 

$

 

 

 

 

 

 

$

 

Schedule of Performance Awards Outstanding

The following table summarizes each grant of performance awards outstanding at December 31, 2021:

 

Description

 

Grant Date

 

Vesting Year

 

Vesting Dependency

 

Target Units

Outstanding

 

 

Maximum Number

of Units to be Granted

 

2019-2021 Performance RSUs

 

February 7, 2019

 

2021

 

35% RTSR, 35% sales growth,
30% operating cash flow

 

 

46,928

 

 

 

93,856

 

2019 Supplemental Performance RSUs

 

February 7, 2019

 

2021

 

Succession Planning Targets

 

 

6,945

 

 

 

13,890

 

2020 - 2022 QTI Performance RSUs

 

September 24, 2019

 

2022

 

50% EBITDA growth,
50% Sales growth

 

 

1,750

 

 

 

3,500

 

2020 - 2022 Performance RSUs

 

February 6, 2020

 

2022

 

25% RTSR, 40% sales growth,
35% operating cash flow

 

 

59,475

 

 

 

118,950

 

2021 - 2023 Performance RSUs

 

Varies

 

2023

 

25% RTSR, 40% sales growth,
35% operating cash flow

 

 

69,669

 

 

 

139,338

 

Focus 2025 Performance RSUs

 

Varies

 

2024

 

Cumulative revenues of $750 million over a trailing four-quarter period

 

 

53,000

 

 

 

53,000

 

Total

 

 

 

 

 

 

 

 

237,767

 

 

 

422,534