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Stock Options and Other Equity-Based Incentive Instruments (Tables)
9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Stock Option Activity
Stock option activity during the nine months ended September 30, 2019 is summarized in the following table:
Number
of Shares
Option Price
per Share
Weighted
Average
Exercise Price
Outstanding at December 31, 2018343,000  
$12.63 to $23.21
$16.67  
Options granted—  
— to —
—  
Options exercised(166,000) 
$12.63 to $19.46
15.93  
Options forfeited—  
— to —
—  
Outstanding at September 30, 2019177,000  
$14.54 to $23.21
$17.52  
Summary of Options Outstanding
The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of September 30, 2019:
Currently
Exercisable
Currently Not
Exercisable
Total
Outstanding
Number of options176,625  375  177,000  
Weighted average exercise price$17.50  $23.21  $17.52  
Intrinsic value (in thousands)$3,321  $ $3,326  
Weighted average remaining contractual term (yrs.)2.95.02.9
Restricted Stock Unit (RSU) Activity
The 375 options that are currently not exercisable as of September 30, 2019 are expected to vest, on a weighted-average basis, over the next three months. The Company did not modify any option grants during 2018 or the nine months ended September 30, 2019.
Service
Condition
Vesting RSUs
Market Plus
Service
Condition
Vesting RSUs
Outstanding at December 31, 201866,947  45,536  
RSUs granted35,272  22,898  
RSUs added through dividend and performance credits946  7,414  
RSUs released(30,461) (22,237) 
RSUs forfeited/expired(1,876) (2,299) 
Outstanding at September 30, 201970,828  51,312