Stock Based Compensation

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock Based Compensation

Stock Based Compensation

The Company applies the fair value recognition provisions of ASC Topic 718: "Stock Compensation". The Company recorded stock based compensation of $2.2 million and $0.9 million for the six month periods ended June 30, 2020 and June 30, 2019, respectively. The Company recorded stock based compensation of $1.1 million and $0.6 million for the three month periods ended June 30, 2020 and June 30, 2019, respectively. At June 30, 2020, the aggregate unrecognized compensation expense related to unvested equity awards was $8.9 million (net of estimated forfeitures), which is expected to be recognized as compensation expense in fiscal years 2020 through 2023.

A summary of stock option activity for the six months ended June 30, 2020:

(in thousands)	Options Outstanding	Weighted Average Exercise Price
Outstanding at January 1, 2020	410	14.50
Granted	587	12.64
Exercised	(6)	10.16
Forfeited and cancelled	(63)	7.49
Outstanding at June 30, 2020	928	13.83

A summary of non-vested restricted stock activity for the six months ended June 30, 2020:

(in thousands)	Restricted Stock Awards	Weighted Average Award Value
Outstanding at Balance at January 1, 2020	171	23.53
Granted	21	29.19
Vested	(122)	25.82
Forfeited and cancelled	(40)	15.35
Outstanding at June 30, 2020	30	29.30

A summary of non-vested restricted stock units ("RSU") activity for the six months ended June 30, 2020:

(in thousands)	RSU Awards	Weighted Average Award Value
Outstanding at Balance at January 1, 2020	—	—
Granted	360	12.64
Vested	—	—
Forfeited and cancelled	—	—
Outstanding at June 30, 2020	360	12.64